CI vs DZZ: Correlation
Measured on weekly returns over the past three years, Cigna (CI) and DB Gold Double Short ETN due February 15, 2038 (DZZ) 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 CI and DZZ?
Over the past 3 years, CI and DZZ 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 (-0.38) than the 3-year average (-0.23). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -542.1 %².
By 3-year correlation, DZZ places #24 of the 30 assets tracked against CI. Neither side won the trailing year by much: -5.4% against -8.6%. One caveat on sizing: DZZ is 3.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CI vs DZZ: side by side
| CI (Cigna) | DZZ (DB Gold Double Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | -5.4% | -8.6% |
| 5-year return | +46.7% | -40.0% |
| Volatility (ann.) | 26.7% | 89.0% |
| Beta vs S&P 500 | 0.22 | 0.36 |
| Max drawdown (3Y) | -32.1% | -83.1% |
| Market cap | $73.4B | – |
| P/E (trailing) | 11.6 | – |
| Dividend yield | 2.19% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CI | DZZ |
|---|---|---|
| 2022 | +46.7% | +3.0% |
| 2023 | -8.0% | -8.3% |
| 2024 | -6.3% | -35.0% |
| 2025 | +1.7% | +132.7% |
| 2026 | +2.0% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CI and DZZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between CI and DZZ?
As of 2026-08-27, the correlation of weekly returns between CI and DZZ is -0.23 over 3 years, -0.38 over 1 year and -0.19 over 5 years.
Is DZZ a good diversifier for CI?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
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/ci-vs-dzz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ci-vs-dzz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CI correlations · DZZ correlations
