GGZ vs RVT: Correlation
How closely do Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) and Royce Small-Cap Trust, Inc. (RVT) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGZ and RVT?
On 3 years of weekly data the GGZ/RVT correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.85 over 3. The 5-year figure is 0.86, and annualized covariance runs at 287.4 %².
Few assets follow GGZ as closely as RVT, which ranks #3 of 44 tracked partners. The trailing year gives RVT the advantage: +21.2% versus +27.4%, a 6.2-point spread.
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 RVT: side by side
| GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +21.2% | +27.4% |
| 5-year return | +37.8% | +53.9% |
| Volatility (ann.) | 17.8% | 19.1% |
| Beta vs S&P 500 | 0.90 | 0.99 |
| Max drawdown (3Y) | -17.8% | -23.5% |
| Market cap | – | $2.3B |
| P/E (trailing) | 5.6 | 6.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGZ | RVT |
|---|---|---|
| 2022 | -25.5% | -26.3% |
| 2023 | +10.7% | +18.8% |
| 2024 | +5.2% | +17.9% |
| 2025 | +34.9% | +11.5% |
| 2026 | +13.5% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGZ and RVT good diversifiers for each other?
No: a correlation of 0.85 means GGZ and RVT tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between GGZ and RVT?
As of 2026-08-27, the correlation of weekly returns between GGZ and RVT is 0.85 over 3 years, 0.80 over 1 year and 0.86 over 5 years.
Is RVT a good diversifier for GGZ?
No: a correlation of 0.85 means GGZ and RVT tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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-rvt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ggz-vs-rvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GGZ correlations · RVT correlations
