DC vs DZZ: Correlation
Dakota Gold Corp. (DC) and DB Gold Double Short ETN due February 15, 2038 (DZZ) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DC and DZZ?
On 3 years of weekly data the DC/DZZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. The 5-year figure is -0.25, and annualized covariance runs at -1362.8 %².
Among the 12 assets we track against DC, DZZ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with DC ahead by 57.9 points (+49.3% versus -8.6%).
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.
DC vs DZZ: side by side
| DC (Dakota Gold Corp.) | DZZ (DB Gold Double Short ETN due February 15, 2038) | |
|---|---|---|
| 1-year return | +49.3% | -8.6% |
| 5-year return | -9.6% | -40.0% |
| Volatility (ann.) | 61.3% | 89.0% |
| Beta vs S&P 500 | 1.26 | 0.36 |
| Max drawdown (3Y) | -41.7% | -83.1% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DC | DZZ |
|---|---|---|
| 2022 | – | +3.0% |
| 2023 | -14.1% | -8.3% |
| 2024 | -16.0% | -35.0% |
| 2025 | +158.2% | +132.7% |
| 2026 | +9.9% | -57.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DC and DZZ good diversifiers for each other?
Yes. With a correlation of -0.25, DC and DZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DC and DZZ?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.29 over the last year and -0.25 over 5 years.
Is DZZ a good diversifier for DC?
Yes. With a correlation of -0.25, DC and DZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/dc-vs-dzz.json
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Related comparisons
Hubs: DC correlations · DZZ correlations
