DGICA vs DJP: Correlation
How closely do Donegal Group, Inc. (DGICA) and iPath Bloomberg Commodity Index Total Return ETN (DJP) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGICA and DJP?
On 3 years of weekly data the DGICA/DJP correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.26). The 5-year figure is -0.17, and annualized covariance runs at -96.6 %².
DJP is close to the least connected end of DGICA's tracked universe, ranking #12 of 12. The last year tells two different stories: DJP led by 36.6 percentage points, +12.6% for DGICA against +49.2% for DJP.
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.
DGICA vs DJP: side by side
| DGICA (Donegal Group, Inc.) | DJP (iPath Bloomberg Commodity Index Total Return ETN) | |
|---|---|---|
| 1-year return | +12.6% | +49.2% |
| 5-year return | +57.1% | +82.1% |
| Volatility (ann.) | 23.2% | 16.3% |
| Beta vs S&P 500 | 0.18 | 0.11 |
| Max drawdown (3Y) | -20.4% | -16.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 3.87% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGICA | DJP |
|---|---|---|
| 2022 | +4.0% | +17.5% |
| 2023 | +3.2% | -9.8% |
| 2024 | +15.9% | +5.6% |
| 2025 | +34.7% | +17.2% |
| 2026 | -2.0% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGICA and DJP good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between DGICA and DJP?
As of 2026-08-27, the correlation of weekly returns between DGICA and DJP is -0.26 over 3 years, -0.41 over 1 year and -0.17 over 5 years.
Is DJP a good diversifier for DGICA?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DGICA correlations · DJP correlations
