ATXG vs DZZ: Correlation
How closely do Addentax Group Corp. (ATXG) and DB Gold Double Short ETN due February 15, 2038 (DZZ) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATXG and DZZ?
Over the past 3 years, ATXG and DZZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.40) sits close to the 3-year figure. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -2594.1 %².
Among the 10 assets we track against ATXG, DZZ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with DZZ ahead by 48.9 points (-57.5% versus -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.
ATXG vs DZZ: side by side
| ATXG (Addentax Group Corp.) | DZZ (DB Gold Double Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | -57.5% | -8.6% |
| 5-year return | -99.7% | -40.0% |
| Volatility (ann.) | 94.8% | 89.0% |
| Beta vs S&P 500 | 0.60 | 0.36 |
| Max drawdown (3Y) | -90.5% | -83.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATXG | DZZ |
|---|---|---|
| 2022 | -85.7% | +3.0% |
| 2023 | -86.6% | -8.3% |
| 2024 | -57.4% | -35.0% |
| 2025 | -36.1% | +132.7% |
| 2026 | -37.1% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATXG and DZZ good diversifiers for each other?
Yes. With a correlation of -0.31, ATXG and DZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ATXG and DZZ?
As of 2026-08-27, the correlation of weekly returns between ATXG and DZZ is -0.31 over 3 years, -0.40 over 1 year and -0.24 over 5 years.
Is DZZ a good diversifier for ATXG?
Yes. With a correlation of -0.31, ATXG and DZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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: ATXG correlations · DZZ correlations
