DGP vs SLV: Correlation
How closely do DB Gold Double Long ETN due February 15, 2038 (DGP) and iShares Silver Trust (SLV) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGP and SLV?
Across a 3-year window, the weekly returns of DGP and SLV correlate at 0.76, strong. Recent behaviour matches the longer record: 0.81 over 1 year against 0.76 over 3. Stretching to 5 years gives 0.74, with an annualized covariance of 1101.9 %².
By 3-year correlation, SLV places #6 of the 13 assets tracked against DGP. The last year tells two different stories: SLV led by 17.5 percentage points, +61.9% for DGP against +79.4% for SLV.
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 SLV: side by side
| DGP (DB Gold Double Long ETN due February 15, 2038) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +61.9% | +79.4% |
| 5-year return | +336.5% | +182.0% |
| Volatility (ann.) | 37.4% | 38.6% |
| Beta vs S&P 500 | 0.38 | 0.80 |
| Max drawdown (3Y) | -47.6% | -52.3% |
| Dividend yield | – | 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 | DGP | SLV |
|---|---|---|
| 2022 | -5.5% | +2.4% |
| 2023 | +17.0% | -1.1% |
| 2024 | +53.2% | +20.9% |
| 2025 | +141.4% | +144.7% |
| 2026 | +5.6% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGP and SLV good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DGP and SLV?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.81 over the last year and 0.74 over 5 years.
Is SLV a good diversifier for DGP?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
A reading of 0.76 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgp-vs-slv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgp-vs-slv/)
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Related comparisons
Hubs: DGP correlations · SLV correlations
