ALEC vs DZZ: Correlation
How closely do Alector, Inc. (ALEC) and DB Gold Double Short ETN due February 15, 2038 (DZZ) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALEC and DZZ?
On 3 years of weekly data the ALEC/DZZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.25). The 5-year figure is -0.22, and annualized covariance runs at -2046.9 %².
Out of 11 assets tracked against ALEC, DZZ lands near the bottom at #9. Over the last 12 months ALEC came out ahead by 8.2 percentage points (-0.4% against -8.6%).
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.
ALEC vs DZZ: side by side
| ALEC (Alector, Inc.) | DZZ (DB Gold Double Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | -0.4% | -8.6% |
| 5-year return | -90.9% | -40.0% |
| Volatility (ann.) | 90.5% | 89.0% |
| Beta vs S&P 500 | 2.06 | 0.36 |
| Max drawdown (3Y) | -89.2% | -83.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALEC | DZZ |
|---|---|---|
| 2022 | -55.3% | +3.0% |
| 2023 | -13.5% | -8.3% |
| 2024 | -76.3% | -35.0% |
| 2025 | -17.5% | +132.7% |
| 2026 | +53.2% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALEC and DZZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALEC and DZZ?
The ALEC/DZZ correlation stands at -0.25 on a 3-year window (1 year: -0.41, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is DZZ a good diversifier for ALEC?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alec-vs-dzz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alec-vs-dzz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALEC correlations · DZZ correlations
