ASA vs DGP: Correlation
Measured on weekly returns over the past three years, ASA Gold and Precious Metals Limited (ASA) and DB Gold Double Long ETN due February 15, 2038 (DGP) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and DGP?
Across a 3-year window, the weekly returns of ASA and DGP correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.80, with an annualized covariance of 1298.5 %².
By 3-year correlation, DGP places #9 of the 59 assets tracked against ASA. Their recent paths diverged sharply: over the last 12 months ASA outperformed by 15.1 percentage points (+77.0% for ASA against +61.9% for DGP).
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.
ASA vs DGP: side by side
| ASA (ASA Gold and Precious Metals Limited) | DGP (DB Gold Double Long ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | +77.0% | +61.9% |
| 5-year return | +218.5% | +336.5% |
| Volatility (ann.) | 42.5% | 37.4% |
| Beta vs S&P 500 | 0.92 | 0.38 |
| Max drawdown (3Y) | -40.8% | -47.6% |
| Market cap | – | – |
| P/E (trailing) | 1.7 | – |
| Dividend yield | 0.11% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | DGP |
|---|---|---|
| 2022 | -32.1% | -5.5% |
| 2023 | +5.4% | +17.0% |
| 2024 | +34.5% | +53.2% |
| 2025 | +195.6% | +141.4% |
| 2026 | +9.5% | +5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and DGP good diversifiers for each other?
No: a correlation of 0.82 means ASA and DGP tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ASA and DGP?
As of 2026-08-27, the correlation of weekly returns between ASA and DGP is 0.82 over 3 years, 0.87 over 1 year and 0.80 over 5 years.
Is DGP a good diversifier for ASA?
No: a correlation of 0.82 means ASA and DGP tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
A reading of 0.82 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asa-vs-dgp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asa-vs-dgp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASA correlations · DGP correlations
