DBGI vs UTZ: Correlation
How closely do Digital Brands Group, Inc. (DBGI) and Utz Brands Inc (UTZ) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBGI and UTZ?
On 3 years of weekly data the DBGI/UTZ correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.92 lands near the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 61646.0 %².
Within DBGI's tracked universe of 28 assets, UTZ comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months UTZ outperformed by 37.5 percentage points (-29.2% for DBGI against +8.3% for UTZ). Note the risk asymmetry: DBGI runs 17.1 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.
DBGI vs UTZ: side by side
| DBGI (Digital Brands Group, Inc.) | UTZ (Utz Brands Inc) | |
|---|---|---|
| 1-year return | -29.2% | +8.3% |
| 5-year return | -100.0% | -16.7% |
| Volatility (ann.) | 1127.2% | 65.9% |
| Beta vs S&P 500 | -1.93 | 0.07 |
| Max drawdown (3Y) | -100.0% | -63.8% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBGI | UTZ |
|---|---|---|
| 2022 | -98.2% | +0.9% |
| 2023 | -96.9% | +3.9% |
| 2024 | -98.9% | -2.1% |
| 2025 | +610.8% | -32.3% |
| 2026 | -43.1% | +39.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBGI and UTZ good diversifiers for each other?
No: a correlation of 0.83 means DBGI and UTZ tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DBGI and UTZ?
The DBGI/UTZ correlation stands at 0.83 on a 3-year window (1 year: 0.92, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is UTZ a good diversifier for DBGI?
No: a correlation of 0.83 means DBGI and UTZ tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 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/dbgi-vs-utz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dbgi-vs-utz/)
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Related comparisons
Hubs: DBGI correlations · UTZ correlations
