GGZ vs LVS: Correlation
Measured on weekly returns over the past three years, Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) and Las Vegas Sands (LVS) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGZ and LVS?
On 3 years of weekly data the GGZ/LVS correlation comes out at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 240.1 %².
Out of 44 assets tracked against GGZ, LVS lands near the bottom at #41. Correlation aside, the last 12 months split them widely, with GGZ ahead by 41.5 points (+21.2% versus -20.3%). One caveat on sizing: LVS is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 LVS: side by side
| GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | LVS (Las Vegas Sands) | |
|---|---|---|
| 1-year return | +21.2% | -20.3% |
| 5-year return | +37.8% | +8.5% |
| Volatility (ann.) | 17.8% | 34.8% |
| Beta vs S&P 500 | 0.90 | 0.75 |
| Max drawdown (3Y) | -17.8% | -44.0% |
| Market cap | – | $28.7B |
| P/E (trailing) | 5.6 | 17.1 |
| Dividend yield | 0.00% | 2.49% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | GGZ | LVS |
|---|---|---|
| 2022 | -25.5% | +27.7% |
| 2023 | +10.7% | +3.1% |
| 2024 | +5.2% | +6.2% |
| 2025 | +34.9% | +29.5% |
| 2026 | +13.5% | -30.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGZ and LVS good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GGZ and LVS?
The GGZ/LVS correlation stands at 0.39 on a 3-year window (1 year: 0.30, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is LVS a good diversifier for GGZ?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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-lvs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggz-vs-lvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GGZ correlations · LVS correlations
