BLDR vs DJP: Correlation
Builders FirstSource (BLDR) and iPath Bloomberg Commodity Index Total Return ETN (DJP) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLDR and DJP?
Across a 3-year window, the weekly returns of BLDR and DJP correlate at -0.19, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.31) runs below the 3-year figure (-0.19). Stretching to 5 years gives -0.07, with an annualized covariance of -144.7 %².
By 3-year correlation, DJP places #42 of the 48 assets tracked against BLDR. Their recent paths diverged sharply: over the last 12 months DJP outperformed by 101.8 percentage points (-52.6% for BLDR against +49.2% for DJP). Risk is not evenly split, since BLDR carries 2.8 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.
BLDR vs DJP: side by side
| BLDR (Builders FirstSource) | DJP (iPath Bloomberg Commodity Index Total Return ETN) | |
|---|---|---|
| 1-year return | -52.6% | +49.2% |
| 5-year return | +25.8% | +82.1% |
| Volatility (ann.) | 45.6% | 16.3% |
| Beta vs S&P 500 | 1.36 | 0.11 |
| Max drawdown (3Y) | -68.7% | -16.4% |
| Market cap | $7.2B | – |
| P/E (trailing) | 74.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | BLDR | DJP |
|---|---|---|
| 2022 | -24.3% | +17.5% |
| 2023 | +157.3% | -9.8% |
| 2024 | -14.4% | +5.6% |
| 2025 | -28.0% | +17.2% |
| 2026 | -34.7% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLDR and DJP good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BLDR and DJP?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.31 over the last year and -0.07 over 5 years.
Is DJP a good diversifier for BLDR?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/bldr-vs-djp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bldr-vs-djp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BLDR correlations · DJP correlations
