ARIS vs DZZ: Correlation
Measured on weekly returns over the past three years, Aris Mining Corporation (ARIS) and DB Gold Double Short ETN due February 15, 2038 (DZZ) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARIS and DZZ?
On 3 years of weekly data the ARIS/DZZ correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.22 over 3. The 5-year figure is -0.24, and annualized covariance runs at -1108.9 %².
Among the 11 assets we track against ARIS, DZZ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: ARIS led by 169.8 percentage points, +161.2% for ARIS against -8.6% for DZZ. Risk is not evenly split, since DZZ carries 1.6 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.
ARIS vs DZZ: side by side
| ARIS (Aris Mining Corporation) | DZZ (DB Gold Double Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | +161.2% | -8.6% |
| 5-year return | +482.3% | -40.0% |
| Volatility (ann.) | 56.8% | 89.0% |
| Beta vs S&P 500 | 0.93 | 0.36 |
| Max drawdown (3Y) | -41.1% | -83.1% |
| Market cap | $4.4B | – |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARIS | DZZ |
|---|---|---|
| 2022 | -39.6% | +3.0% |
| 2023 | +31.9% | -8.3% |
| 2024 | +6.5% | -35.0% |
| 2025 | +363.7% | +132.7% |
| 2026 | +31.0% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARIS and DZZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARIS and DZZ?
As of 2026-08-27, the correlation of weekly returns between ARIS and DZZ is -0.22 over 3 years, -0.23 over 1 year and -0.24 over 5 years.
Is DZZ a good diversifier for ARIS?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ARIS correlations · DZZ correlations
