GAM vs. USA
GAM (General American Investors Company, Inc.) and USA (Liberty All-Star Equity Fund) are both stocks. Both are in the Financial Services sector — GAM in Asset Management, USA in Collective Investments. Over the past 10 years, GAM returned 15.40%/yr vs 12.11%/yr for USA. Their 0.53 correlation means they have sometimes moved together and sometimes differently.
Performance
GAM vs. USA - Performance Comparison
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Returns By Period
In the year-to-date period, GAM achieves a 10.68% return, which is significantly higher than USA's 0.57% return. Over the past 10 years, GAM has outperformed USA with an annualized return of 15.40%, while USA has yielded a comparatively lower 12.11% annualized return.
GAM
- 1D
- 0.42%
- 1M
- 1.66%
- 6M
- 6.96%
- YTD
- 10.68%
- 1Y
- 28.16%
- 3Y*
- 25.77%
- 5Y*
- 15.37%
- 10Y*
- 15.40%
- ALL TIME*
- 9.19%
USA
- 1D
- 0.00%
- 1M
- 3.10%
- 6M
- 1.24%
- YTD
- 0.57%
- 1Y
- 0.97%
- 3Y*
- 5.91%
- 5Y*
- 2.63%
- 10Y*
- 12.11%
- ALL TIME*
- 7.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.10M | $1.38M | $1.77M | |
| $8.20M | $9.40M | $8.31M |
GAM vs. USA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GAM General American Investors Company, Inc. | 10.68% | 28.63% | 29.55% | 26.84% | -14.84% | 20.56% | 5.85% | 41.76% | -10.25% | 21.32% |
USA Liberty All-Star Equity Fund | 0.57% | 0.09% | 20.81% | 23.17% | -25.20% | 33.76% | 12.89% | 39.70% | -5.06% | 34.66% |
Correlation
The correlation between GAM and USA is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 1987 | 0.53 |
The correlation between GAM and USA shifts across timeframes, from 0.53 (all time) to 0.73 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
GAM:
$1.56B
USA:
$1.79B
GAM:
$27.65M
USA:
$355.74M
GAM:
$27.65M
USA:
$329.90M
GAM:
$7.71M
USA:
$305.11M
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Return for Risk
GAM vs. USA — Risk / Return Rank
GAM
USA
GAM vs. USA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for General American Investors Company, Inc. (GAM) and Liberty All-Star Equity Fund (USA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GAM | USA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.34 | ||
| Sortino ratioReturn per unit of downside risk | +3.16 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.01 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | -0.03 | +3.09 |
| Martin ratioReturn relative to average drawdown | 13.47 | -0.08 | +13.56 |
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Drawdowns
GAM vs. USA - Drawdown Comparison
The maximum GAM drawdown since its inception was -66.63%, roughly equal to the maximum USA drawdown of -69.15%. Use the drawdown chart below to compare losses from any high point for GAM and USA.
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Drawdown Indicators
| GAM | USA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.63% | -69.15% | +2.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -13.65% | +4.98% |
Max Drawdown (3Y)Largest decline over 3 years | -14.90% | -17.69% | +2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -26.09% | -34.05% | +7.96% |
Max Drawdown (10Y)Largest decline over 10 years | -41.78% | -47.07% | +5.29% |
Current DrawdownCurrent decline from peak | -0.34% | -4.83% | +4.49% |
Average DrawdownAverage peak-to-trough decline | -11.54% | -11.50% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 5.16% | -3.19% |
Volatility
GAM vs. USA - Volatility Comparison
The current volatility for General American Investors Company, Inc. (GAM) is 2.77%, while Liberty All-Star Equity Fund (USA) has a volatility of 3.74%. This indicates that GAM experiences smaller price fluctuations and is considered to be less risky than USA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAM | USA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.77% | 3.74% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 10.80% | -1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.50% | 14.11% | -2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 20.11% | -4.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.59% | 22.56% | -4.97% |
Dividends
GAM vs. USA - Dividend Comparison
GAM's dividend yield for the trailing twelve months is around 9.85%, less than USA's 11.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAM General American Investors Company, Inc. | 9.85% | 11.32% | 8.82% | 6.17% | 4.15% | 1.38% | 6.72% | 6.49% | 9.67% | 9.56% | 10.20% | 3.60% |
USA Liberty All-Star Equity Fund | 11.53% | 10.67% | 10.22% | 9.56% | 12.11% | 9.67% | 9.13% | 9.75% | 12.64% | 8.89% | 9.30% | 9.53% |
Financials
GAM vs. USA - Financials Comparison
This section allows you to compare key financial metrics between General American Investors Company, Inc. and Liberty All-Star Equity Fund. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
GAM and USA have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USA has higher volatility (3.74%) compared to GAM (2.77%). In terms of maximum drawdown, GAM dropped -66.63% vs USA's -69.15%.
GAM currently has the higher Sharpe Ratio (2.31 vs -0.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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