GGZ vs SW: Correlation
How closely do Gabelli Global Small and Mid Cap Value Trust (The) (GGZ) and Smurfit Westrock (SW) 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 SW?
Across a 3-year window, the weekly returns of GGZ and SW correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.54, with an annualized covariance of 377.2 %².
Within GGZ's tracked universe of 44 assets, SW comes in at #26 by 3-year correlation. The trailing year gives GGZ the advantage: +21.2% versus +9.7%, a 11.5-point spread. Note the risk asymmetry: SW runs 2.3 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 SW: side by side
| GGZ (Gabelli Global Small and Mid Cap Value Trust (The)) | SW (Smurfit Westrock) | |
|---|---|---|
| 1-year return | +21.2% | +9.7% |
| 5-year return | +37.8% | +2.6% |
| Volatility (ann.) | 17.8% | 40.1% |
| Beta vs S&P 500 | 0.90 | 0.92 |
| Max drawdown (3Y) | -17.8% | -40.5% |
| Market cap | – | $25.5B |
| P/E (trailing) | 5.6 | 51.7 |
| Dividend yield | 0.00% | 3.57% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | GGZ | SW |
|---|---|---|
| 2022 | -25.5% | -28.0% |
| 2023 | +10.7% | +14.1% |
| 2024 | +5.2% | +37.6% |
| 2025 | +34.9% | -26.2% |
| 2026 | +13.5% | +29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGZ and SW 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 SW?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.57 over the last year and 0.54 over 5 years.
Is SW 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?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ggz-vs-sw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggz-vs-sw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GGZ correlations · SW correlations
