GGZ vs MFIN: Correlation
How closely do Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) and Medallion Financial Corp. (MFIN) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGZ and MFIN?
On 3 years of weekly data the GGZ/MFIN correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.53 over 3. The 5-year figure is 0.36, and annualized covariance runs at 307.9 %².
Within GGZ's tracked universe of 44 assets, MFIN comes in at #25 by 3-year correlation. Neither side won the trailing year by much: +21.2% against +18.4%. Note the risk asymmetry: MFIN runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 MFIN: side by side
| GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | MFIN (Medallion Financial Corp.) | |
|---|---|---|
| 1-year return | +21.2% | +18.4% |
| 5-year return | +37.8% | +74.5% |
| Volatility (ann.) | 17.8% | 32.3% |
| Beta vs S&P 500 | 0.90 | 0.90 |
| Max drawdown (3Y) | -17.8% | -30.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | 5.6 | 8.8 |
| Dividend yield | 0.00% | 4.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGZ | MFIN |
|---|---|---|
| 2022 | -25.5% | +28.4% |
| 2023 | +10.7% | +44.0% |
| 2024 | +5.2% | +0.1% |
| 2025 | +34.9% | +15.1% |
| 2026 | +13.5% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGZ and MFIN good diversifiers for each other?
To a limited degree. At 0.53 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 MFIN?
As of 2026-08-27, the correlation of weekly returns between GGZ and MFIN is 0.53 over 3 years, 0.47 over 1 year and 0.36 over 5 years.
Is MFIN a good diversifier for GGZ?
To a limited degree. At 0.53 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 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ggz-vs-mfin.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggz-vs-mfin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GGZ correlations · MFIN correlations
