GGZ vs PPLI: Correlation
How closely do Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) and People Incorporated (PPLI) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGZ and PPLI?
On 3 years of weekly data the GGZ/PPLI correlation comes out at 0.55, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.55 over 3. The 5-year figure is 0.54, and annualized covariance runs at 315.0 %².
Among the 44 assets we track against GGZ, PPLI ranks #22 by 3-year correlation. The trailing year gives GGZ the advantage: +21.2% versus +7.0%, a 14.2-point spread. Risk is not evenly split, since PPLI carries 1.8 times the volatility of the other side.
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 PPLI: side by side
| GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | PPLI (People Incorporated) | |
|---|---|---|
| 1-year return | +21.2% | +7.0% |
| 5-year return | +37.8% | -63.8% |
| Volatility (ann.) | 17.8% | 32.1% |
| Beta vs S&P 500 | 0.90 | 0.98 |
| Max drawdown (3Y) | -17.8% | -33.4% |
| Market cap | – | $2.9B |
| P/E (trailing) | 5.6 | 6.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGZ | PPLI |
|---|---|---|
| 2022 | -25.5% | -66.0% |
| 2023 | +10.7% | +18.0% |
| 2024 | +5.2% | -17.6% |
| 2025 | +34.9% | +10.5% |
| 2026 | +13.5% | +0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGZ and PPLI good diversifiers for each other?
To a limited degree. At 0.55 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 PPLI?
As of 2026-08-27, the correlation of weekly returns between GGZ and PPLI is 0.55 over 3 years, 0.49 over 1 year and 0.54 over 5 years.
Is PPLI a good diversifier for GGZ?
To a limited degree. At 0.55 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 0.55 mean?
On the −1 to +1 scale, 0.55 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-ppli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggz-vs-ppli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GGZ correlations · PPLI correlations
