ALLE vs DJP: Correlation
Measured on weekly returns over the past three years, Allegion (ALLE) and iPath Bloomberg Commodity Index Total Return ETN (DJP) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and DJP?
On 3 years of weekly data the ALLE/DJP correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.23 over 3 years. The 5-year figure is -0.05, and annualized covariance runs at -90.5 %².
Out of 33 assets tracked against ALLE, DJP lands near the bottom at #30. The last year tells two different stories: DJP led by 55.6 percentage points, -6.4% for ALLE against +49.2% for DJP.
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.
ALLE vs DJP: side by side
| ALLE (Allegion) | DJP (iPath Bloomberg Commodity Index Total Return ETN) | |
|---|---|---|
| 1-year return | -6.4% | +49.2% |
| 5-year return | +19.4% | +82.1% |
| Volatility (ann.) | 24.3% | 16.3% |
| Beta vs S&P 500 | 0.60 | 0.11 |
| Max drawdown (3Y) | -29.8% | -16.4% |
| Market cap | $13.6B | – |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 1.32% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ALLE | DJP |
|---|---|---|
| 2022 | -19.3% | +17.5% |
| 2023 | +22.3% | -9.8% |
| 2024 | +4.7% | +5.6% |
| 2025 | +22.8% | +17.2% |
| 2026 | +1.1% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and DJP good diversifiers for each other?
Yes. With a correlation of -0.23, ALLE and DJP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALLE and DJP?
As of 2026-08-27, the correlation of weekly returns between ALLE and DJP is -0.23 over 3 years, -0.40 over 1 year and -0.05 over 5 years.
Is DJP a good diversifier for ALLE?
Yes. With a correlation of -0.23, ALLE and DJP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/alle-vs-djp.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: ALLE correlations · DJP correlations
