B vs DGZ: Correlation
Measured on weekly returns over the past three years, Barrick Mining Corporation (B) and DB Gold Short ETN due February 15, 2038 (DGZ) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are B and DGZ?
On 3 years of weekly data the B/DGZ correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.39 over 3. The 5-year figure is -0.46, and annualized covariance runs at -447.4 %².
Among the 17 assets we track against B, DGZ sits near the bottom by co-movement, at rank #17. Correlation aside, the last 12 months split them widely, with B ahead by 109.7 points (+83.1% versus -26.6%).
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.
B vs DGZ: side by side
| B (Barrick Mining Corporation) | DGZ (DB Gold Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | +83.1% | -26.6% |
| 5-year return | +171.9% | -50.3% |
| Volatility (ann.) | 40.7% | 28.3% |
| Beta vs S&P 500 | 0.87 | -0.18 |
| Max drawdown (3Y) | -33.4% | -59.5% |
| Market cap | $77.9B | – |
| P/E (trailing) | 12.2 | – |
| Dividend yield | 1.38% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | B | DGZ |
|---|---|---|
| 2022 | -6.2% | +4.9% |
| 2023 | +7.9% | -4.7% |
| 2024 | -12.3% | -16.5% |
| 2025 | +186.9% | -32.5% |
| 2026 | +10.0% | -10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are B and DGZ good diversifiers for each other?
Yes. With a correlation of -0.39, B and DGZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between B and DGZ?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.31 over the last year and -0.46 over 5 years.
Is DGZ a good diversifier for B?
Yes. With a correlation of -0.39, B and DGZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/b-vs-dgz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/b-vs-dgz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: B correlations · DGZ correlations
