BR vs DGZ: Correlation
Measured on weekly returns over the past three years, Broadridge Financial Solutions (BR) and DB Gold Short ETN due February 15, 2038 (DGZ) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BR and DGZ?
Over the past 3 years, BR and DGZ moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.23). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -144.4 %².
Among the 45 assets we track against BR, DGZ sits near the bottom by co-movement, at rank #41. Their 12-month results are close: -27.6% for BR against -26.6% for DGZ.
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.
BR vs DGZ: side by side
| BR (Broadridge Financial Solutions) | DGZ (DB Gold Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | -27.6% | -26.6% |
| 5-year return | +16.0% | -50.3% |
| Volatility (ann.) | 22.6% | 28.3% |
| Beta vs S&P 500 | 0.65 | -0.18 |
| Max drawdown (3Y) | -48.2% | -59.5% |
| Market cap | $20.9B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.15% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | BR | DGZ |
|---|---|---|
| 2022 | -25.3% | +4.9% |
| 2023 | +56.2% | -4.7% |
| 2024 | +11.7% | -16.5% |
| 2025 | +0.3% | -32.5% |
| 2026 | -17.0% | -10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BR and DGZ good diversifiers for each other?
Yes. With a correlation of -0.23, BR and DGZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BR and DGZ?
The BR/DGZ correlation stands at -0.23 on a 3-year window (1 year: -0.36, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is DGZ a good diversifier for BR?
Yes. With a correlation of -0.23, BR and DGZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/br-vs-dgz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/br-vs-dgz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BR correlations · DGZ correlations
