CPK vs DGZ: Correlation
Chesapeake Utilities Corporation (CPK) and DB Gold Short ETN due February 15, 2038 (DGZ) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPK and DGZ?
Across a 3-year window, the weekly returns of CPK and DGZ correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.23 over 3. Stretching to 5 years gives -0.19, with an annualized covariance of -131.5 %².
Among the 11 assets we track against CPK, DGZ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with CPK ahead by 36.7 points (+10.1% 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.
CPK vs DGZ: side by side
| CPK (Chesapeake Utilities Corporation) | DGZ (DB Gold Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | +10.1% | -26.6% |
| 5-year return | +13.6% | -50.3% |
| Volatility (ann.) | 20.5% | 28.3% |
| Beta vs S&P 500 | 0.12 | -0.18 |
| Max drawdown (3Y) | -22.0% | -59.5% |
| Market cap | $3.2B | – |
| P/E (trailing) | 21.4 | – |
| Dividend yield | 2.08% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPK | DGZ |
|---|---|---|
| 2022 | -17.6% | +4.9% |
| 2023 | -8.8% | -4.7% |
| 2024 | +17.4% | -16.5% |
| 2025 | +5.1% | -32.5% |
| 2026 | +8.1% | -10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPK and DGZ good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CPK and DGZ?
The CPK/DGZ correlation stands at -0.23 on a 3-year window (1 year: -0.32, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is DGZ a good diversifier for CPK?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/cpk-vs-dgz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpk-vs-dgz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CPK correlations · DGZ correlations
