GGZ vs GLU: Correlation
Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) and Gabelli Global Utility (GLU) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGZ and GLU?
Across a 3-year window, the weekly returns of GGZ and GLU correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Stretching to 5 years gives 0.64, with an annualized covariance of 186.7 %².
Within GGZ's tracked universe of 44 assets, GLU comes in at #14 by 3-year correlation. Over the last 12 months GGZ came out ahead by 5.7 percentage points (+21.2% against +15.5%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
GGZ vs GLU: side by side
| GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | GLU (Gabelli Global Utility) | |
|---|---|---|
| 1-year return | +21.2% | +15.5% |
| 5-year return | +37.8% | +33.9% |
| Volatility (ann.) | 17.8% | 16.8% |
| Beta vs S&P 500 | 0.90 | 0.45 |
| Max drawdown (3Y) | -17.8% | -17.9% |
| Market cap | – | – |
| P/E (trailing) | 5.6 | 3.9 |
| Dividend yield | 0.00% | 6.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGZ | GLU |
|---|---|---|
| 2022 | -25.5% | -28.1% |
| 2023 | +10.7% | +2.1% |
| 2024 | +5.2% | +23.6% |
| 2025 | +34.9% | +37.9% |
| 2026 | +13.5% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGZ and GLU good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GGZ and GLU?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.54 over the last year and 0.64 over 5 years.
Is GLU a good diversifier for GGZ?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ggz-vs-glu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggz-vs-glu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GGZ correlations · GLU correlations
