CRH vs DJP: Correlation
CRH plc (CRH) and iPath Bloomberg Commodity Index Total Return ETN (DJP) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRH and DJP?
On 3 years of weekly data the CRH/DJP correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.18). The 5-year figure is -0.09, and annualized covariance runs at -84.9 %².
Among the 40 assets we track against CRH, DJP ranks #31 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DJP outperformed by 63.8 percentage points (-14.6% for CRH against +49.2% for DJP). One caveat on sizing: CRH is 1.8 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.
CRH vs DJP: side by side
| CRH (CRH plc) | DJP (iPath Bloomberg Commodity Index Total Return ETN) | |
|---|---|---|
| 1-year return | -14.6% | +49.2% |
| 5-year return | +104.1% | +82.1% |
| Volatility (ann.) | 29.7% | 16.3% |
| Beta vs S&P 500 | 1.26 | 0.11 |
| Max drawdown (3Y) | -28.4% | -16.4% |
| Market cap | $63.6B | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 1.57% | – |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CRH | DJP |
|---|---|---|
| 2022 | -20.5% | +17.5% |
| 2023 | +81.3% | -9.8% |
| 2024 | +35.9% | +5.6% |
| 2025 | +35.9% | +17.2% |
| 2026 | -22.6% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRH and DJP good diversifiers for each other?
Yes. With a correlation of -0.18, CRH and DJP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRH and DJP?
As of 2026-08-27, the correlation of weekly returns between CRH and DJP is -0.18 over 3 years, -0.36 over 1 year and -0.09 over 5 years.
Is DJP a good diversifier for CRH?
Yes. With a correlation of -0.18, CRH and DJP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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.
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Related comparisons
Hubs: CRH correlations · DJP correlations
