DGICB vs SLV: Correlation
How closely do Donegal Group, Inc. (DGICB) and iShares Silver Trust (SLV) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGICB and SLV?
Across a 3-year window, the weekly returns of DGICB and SLV correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.32) than the 3-year average (-0.20). Stretching to 5 years gives -0.18, with an annualized covariance of -313.2 %².
Among the 19 assets we track against DGICB, SLV ranks #11 by 3-year correlation. The trailing year gives SLV the advantage: +68.3% versus +79.4%, a 11.1-point spread.
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.
DGICB vs SLV: side by side
| DGICB (Donegal Group, Inc.) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +68.3% | +79.4% |
| 5-year return | +82.3% | +182.0% |
| Volatility (ann.) | 41.5% | 38.6% |
| Beta vs S&P 500 | 0.15 | 0.80 |
| Max drawdown (3Y) | -30.3% | -52.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 3.00% | 0.00% |
| Expense ratio | – | 0.50% |
| Assets under management | – | $28.1B |
| Sector / category | US Listed | ETF · Commodities |
SLV, iShares's Commodities Focused fund, carries $28.1B under management, a 0.50% expense ratio, a 0.00% trailing dividend yield.
Year-by-year returns
| Year | DGICB | SLV |
|---|---|---|
| 2022 | +25.8% | +2.4% |
| 2023 | -6.8% | -1.1% |
| 2024 | +1.6% | +20.9% |
| 2025 | +30.8% | +144.7% |
| 2026 | +34.6% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGICB and SLV good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between DGICB and SLV?
The DGICB/SLV correlation stands at -0.20 on a 3-year window (1 year: -0.32, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is SLV a good diversifier for DGICB?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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
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Related comparisons
Hubs: DGICB correlations · SLV correlations
