GGZ vs PBI: Correlation
Measured on weekly returns over the past three years, Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) and Pitney Bowes Inc. (PBI) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGZ and PBI?
On 3 years of weekly data the GGZ/PBI correlation comes out at 0.47, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.47). The 5-year figure is 0.48, and annualized covariance runs at 433.4 %².
By 3-year correlation, PBI places #36 of the 44 assets tracked against GGZ. Their recent paths diverged sharply: over the last 12 months PBI outperformed by 23.5 percentage points (+21.2% for GGZ against +44.7% for PBI). Note the risk asymmetry: PBI runs 2.9 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 PBI: side by side
| GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | PBI (Pitney Bowes Inc.) | |
|---|---|---|
| 1-year return | +21.2% | +44.7% |
| 5-year return | +37.8% | +183.6% |
| Volatility (ann.) | 17.8% | 51.4% |
| Beta vs S&P 500 | 0.90 | 1.50 |
| Max drawdown (3Y) | -17.8% | -28.3% |
| Market cap | – | $2.4B |
| P/E (trailing) | 5.6 | 14.0 |
| Dividend yield | 0.00% | 2.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGZ | PBI |
|---|---|---|
| 2022 | -25.5% | -39.7% |
| 2023 | +10.7% | +22.2% |
| 2024 | +5.2% | +70.6% |
| 2025 | +34.9% | +50.4% |
| 2026 | +13.5% | +66.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGZ and PBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GGZ and PBI?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.16 over the last year and 0.48 over 5 years.
Is PBI a good diversifier for GGZ?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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-pbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ggz-vs-pbi/)
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Related comparisons
Hubs: GGZ correlations · PBI correlations
