DGP vs QQQ: Correlation
DB Gold Double Long ETN due February 15, 2038 (DGP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGP and QQQ?
Over the past 3 years, DGP and QQQ moved with a correlation of 0.15, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.38 versus 0.15 over 3 years. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 107.0 %².
Out of 13 assets tracked against DGP, QQQ lands near the bottom at #9. The last year tells two different stories: DGP led by 35.6 percentage points, +61.9% for DGP against +26.3% for QQQ. One caveat on sizing: DGP is 1.9 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.
DGP vs QQQ: side by side
| DGP (DB Gold Double Long ETN due February 15, 2038) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +61.9% | +26.3% |
| 5-year return | +336.5% | +95.4% |
| Volatility (ann.) | 37.4% | 19.6% |
| Beta vs S&P 500 | 0.38 | 1.28 |
| Max drawdown (3Y) | -47.6% | -22.8% |
| Dividend yield | – | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | DGP | QQQ |
|---|---|---|
| 2022 | -5.5% | -32.6% |
| 2023 | +17.0% | +54.9% |
| 2024 | +53.2% | +25.6% |
| 2025 | +141.4% | +20.8% |
| 2026 | +5.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGP and QQQ good diversifiers for each other?
Yes: at 0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGP and QQQ?
As of 2026-08-27, the correlation of weekly returns between DGP and QQQ is 0.15 over 3 years, 0.38 over 1 year and 0.16 over 5 years.
Is QQQ a good diversifier for DGP?
Yes: at 0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.15 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/dgp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgp-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGP correlations · QQQ correlations
