GGZ vs RCKY: Correlation
Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) and Rocky Brands, Inc. (RCKY) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGZ and RCKY?
Across a 3-year window, the weekly returns of GGZ and RCKY correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 609.2 %².
Within GGZ's tracked universe of 44 assets, RCKY comes in at #33 by 3-year correlation. The last year tells two different stories: RCKY led by 29.1 percentage points, +21.2% for GGZ against +50.3% for RCKY. Note the risk asymmetry: RCKY runs 3.8 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 RCKY: side by side
| GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | RCKY (Rocky Brands, Inc.) | |
|---|---|---|
| 1-year return | +21.2% | +50.3% |
| 5-year return | +37.8% | +0.6% |
| Volatility (ann.) | 17.8% | 68.1% |
| Beta vs S&P 500 | 0.90 | 1.66 |
| Max drawdown (3Y) | -17.8% | -68.0% |
| Market cap | – | $0.3B |
| P/E (trailing) | 5.6 | 11.9 |
| Dividend yield | 0.00% | 1.40% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGZ | RCKY |
|---|---|---|
| 2022 | -25.5% | -39.5% |
| 2023 | +10.7% | +31.4% |
| 2024 | +5.2% | -22.8% |
| 2025 | +34.9% | +31.9% |
| 2026 | +13.5% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGZ and RCKY good diversifiers for each other?
To a limited degree. At 0.50 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 RCKY?
As of 2026-08-27, the correlation of weekly returns between GGZ and RCKY is 0.50 over 3 years, 0.41 over 1 year and 0.48 over 5 years.
Is RCKY a good diversifier for GGZ?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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-rcky.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ggz-vs-rcky/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GGZ correlations · RCKY correlations
