DGP vs TRX: Correlation
Measured on weekly returns over the past three years, DB Gold Double Long ETN due February 15, 2038 (DGP) and TRX Gold Corporation (TRX) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGP and TRX?
Over the past 3 years, DGP and TRX moved with a correlation of 0.55, which is moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1253.6 %².
Within DGP's tracked universe of 13 assets, TRX comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRX outperformed by 177.0 percentage points (+61.9% for DGP against +238.9% for TRX). Risk is not evenly split, since TRX carries 1.6 times the volatility of the other side.
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 TRX: side by side
| DGP (DB Gold Double Long ETN due February 15, 2038) | TRX (TRX Gold Corporation) | |
|---|---|---|
| 1-year return | +61.9% | +238.9% |
| 5-year return | +336.5% | +197.6% |
| Volatility (ann.) | 37.4% | 61.2% |
| Beta vs S&P 500 | 0.38 | 0.56 |
| Max drawdown (3Y) | -47.6% | -68.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGP | TRX |
|---|---|---|
| 2022 | -5.5% | -15.0% |
| 2023 | +17.0% | +11.8% |
| 2024 | +53.2% | -18.4% |
| 2025 | +141.4% | +196.8% |
| 2026 | +5.6% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGP and TRX good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DGP and TRX?
As of 2026-08-27, the correlation of weekly returns between DGP and TRX is 0.55 over 3 years, 0.58 over 1 year and 0.49 over 5 years.
Is TRX a good diversifier for DGP?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 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: DGP correlations · TRX correlations
