AUST vs DZZ: Correlation
How closely do Austin Gold Corp. (AUST) and DB Gold Double Short ETN due February 15, 2038 (DZZ) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUST and DZZ?
Across a 3-year window, the weekly returns of AUST and DZZ correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Stretching to 5 years gives -0.25, with an annualized covariance of -1903.3 %².
Among the 13 assets we track against AUST, DZZ sits near the bottom by co-movement, at rank #12. On 12-month performance DZZ holds a 11.3-point edge, -19.9% 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.
AUST vs DZZ: side by side
| AUST (Austin Gold Corp.) | DZZ (DB Gold Double Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | -19.9% | -8.6% |
| 5-year return | -71.4% | -40.0% |
| Volatility (ann.) | 89.9% | 89.0% |
| Beta vs S&P 500 | 0.92 | 0.36 |
| Max drawdown (3Y) | -70.3% | -83.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AUST | DZZ |
|---|---|---|
| 2022 | – | +3.0% |
| 2023 | -21.6% | -8.3% |
| 2024 | +69.6% | -35.0% |
| 2025 | +17.9% | +132.7% |
| 2026 | -15.5% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUST and DZZ good diversifiers for each other?
Yes. With a correlation of -0.24, AUST and DZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AUST and DZZ?
The AUST/DZZ correlation stands at -0.24 on a 3-year window (1 year: -0.31, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is DZZ a good diversifier for AUST?
Yes. With a correlation of -0.24, AUST and DZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/aust-vs-dzz.json
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Related comparisons
Hubs: AUST correlations · DZZ correlations
