BSX vs DGZ: Correlation
Measured on weekly returns over the past three years, Boston Scientific (BSX) and DB Gold Short ETN due February 15, 2038 (DGZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSX and DGZ?
Across a 3-year window, the weekly returns of BSX and DGZ correlate at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.30). Stretching to 5 years gives -0.26, with an annualized covariance of -232.1 %².
By 3-year correlation, DGZ places #28 of the 33 assets tracked against BSX. Correlation aside, the last 12 months split them widely, with DGZ ahead by 29.3 points (-55.9% 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.
BSX vs DGZ: side by side
| BSX (Boston Scientific) | DGZ (DB Gold Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | -55.9% | -26.6% |
| 5-year return | +4.1% | -50.3% |
| Volatility (ann.) | 27.6% | 28.3% |
| Beta vs S&P 500 | 0.72 | -0.18 |
| Max drawdown (3Y) | -60.6% | -59.5% |
| Market cap | $67.6B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BSX | DGZ |
|---|---|---|
| 2022 | +8.9% | +4.9% |
| 2023 | +24.9% | -4.7% |
| 2024 | +54.5% | -16.5% |
| 2025 | +6.8% | -32.5% |
| 2026 | -51.1% | -10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSX and DGZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BSX and DGZ?
The BSX/DGZ correlation stands at -0.30 on a 3-year window (1 year: -0.40, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is DGZ a good diversifier for BSX?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/bsx-vs-dgz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bsx-vs-dgz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BSX correlations · DGZ correlations
