DGZ vs DPZ: Correlation
DB Gold Short ETN due February 15, 2038 (DGZ) and Domino's (DPZ) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and DPZ?
Across a 3-year window, the weekly returns of DGZ and DPZ correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.25). Stretching to 5 years gives -0.20, with an annualized covariance of -193.8 %².
Among the 156 assets we track against DGZ, DPZ ranks #75 by 3-year correlation. Twelve-month performance is nearly a tie, at -26.6% for DGZ and -25.2% for DPZ.
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.
DGZ vs DPZ: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | DPZ (Domino's) | |
|---|---|---|
| 1-year return | -26.6% | -25.2% |
| 5-year return | -50.3% | -31.2% |
| Volatility (ann.) | 28.3% | 27.8% |
| Beta vs S&P 500 | -0.18 | 0.67 |
| Max drawdown (3Y) | -59.5% | -45.1% |
| Market cap | – | $11.0B |
| P/E (trailing) | – | 19.5 |
| Dividend yield | – | 2.17% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | DGZ | DPZ |
|---|---|---|
| 2022 | +4.9% | -37.9% |
| 2023 | -4.7% | +20.7% |
| 2024 | -16.5% | +3.2% |
| 2025 | -32.5% | +0.9% |
| 2026 | -10.0% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and DPZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and DPZ?
As of 2026-08-27, the correlation of weekly returns between DGZ and DPZ is -0.25 over 3 years, -0.45 over 1 year and -0.20 over 5 years.
Is DPZ a good diversifier for DGZ?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/dgz-vs-dpz.json
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Related comparisons
Hubs: DGZ correlations · DPZ correlations
