AGI vs DZZ: Correlation
Alamos Gold Inc. Class A (AGI) and DB Gold Double Short ETN due February 15, 2038 (DZZ) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGI and DZZ?
On 3 years of weekly data the AGI/DZZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. The 5-year figure is -0.36, and annualized covariance runs at -1394.9 %².
Out of 26 assets tracked against AGI, DZZ lands near the bottom at #25. Their recent paths diverged sharply: over the last 12 months AGI outperformed by 36.3 percentage points (+27.7% for AGI against -8.6% for DZZ). Risk is not evenly split, since DZZ carries 1.9 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.
AGI vs DZZ: side by side
| AGI (Alamos Gold Inc. Class A) | DZZ (DB Gold Double Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | +27.7% | -8.6% |
| 5-year return | +404.0% | -40.0% |
| Volatility (ann.) | 46.1% | 89.0% |
| Beta vs S&P 500 | 0.76 | 0.36 |
| Max drawdown (3Y) | -49.6% | -83.1% |
| Market cap | $15.9B | – |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 0.35% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGI | DZZ |
|---|---|---|
| 2022 | +33.1% | +3.0% |
| 2023 | +34.3% | -8.3% |
| 2024 | +37.7% | -35.0% |
| 2025 | +109.6% | +132.7% |
| 2026 | -1.6% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGI and DZZ good diversifiers for each other?
Yes. With a correlation of -0.34, AGI and DZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGI and DZZ?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.34 over the last year and -0.36 over 5 years.
Is DZZ a good diversifier for AGI?
Yes. With a correlation of -0.34, AGI and DZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: AGI correlations · DZZ correlations
