BVN vs DZZ: Correlation
Buenaventura Mining Company Inc. (BVN) and DB Gold Double Short ETN due February 15, 2038 (DZZ) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BVN and DZZ?
Across a 3-year window, the weekly returns of BVN and DZZ correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.24). Stretching to 5 years gives -0.26, with an annualized covariance of -969.9 %².
Out of 11 assets tracked against BVN, DZZ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with BVN ahead by 109.2 points (+100.6% versus -8.6%). Note the risk asymmetry: DZZ runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BVN vs DZZ: side by side
| BVN (Buenaventura Mining Company Inc.) | DZZ (DB Gold Double Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | +100.6% | -8.6% |
| 5-year return | +411.8% | -40.0% |
| Volatility (ann.) | 44.9% | 89.0% |
| Beta vs S&P 500 | 0.86 | 0.36 |
| Max drawdown (3Y) | -38.3% | -83.1% |
| Market cap | – | – |
| P/E (trailing) | 8.8 | – |
| Dividend yield | 3.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BVN | DZZ |
|---|---|---|
| 2022 | +2.5% | +3.0% |
| 2023 | +106.5% | -8.3% |
| 2024 | -24.1% | -35.0% |
| 2025 | +146.4% | +132.7% |
| 2026 | +34.2% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BVN and DZZ good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BVN and DZZ?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.37 over the last year and -0.26 over 5 years.
Is DZZ a good diversifier for BVN?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
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/bvn-vs-dzz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bvn-vs-dzz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BVN correlations · DZZ correlations
