DGZ vs EBAY: Correlation
DB Gold Short ETN due February 15, 2038 (DGZ) and eBay Inc. (EBAY) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and EBAY?
Over the past 3 years, DGZ and EBAY moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.18). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -150.6 %².
Among the 156 assets we track against DGZ, EBAY ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EBAY ahead by 37.2 points (-26.6% versus +10.6%).
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 EBAY: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | EBAY (eBay Inc.) | |
|---|---|---|
| 1-year return | -26.6% | +10.6% |
| 5-year return | -50.3% | +43.9% |
| Volatility (ann.) | 28.3% | 28.9% |
| Beta vs S&P 500 | -0.18 | 0.58 |
| Max drawdown (3Y) | -59.5% | -20.7% |
| Market cap | – | $45.5B |
| P/E (trailing) | – | 21.9 |
| Dividend yield | – | 1.15% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | DGZ | EBAY |
|---|---|---|
| 2022 | +4.9% | -36.5% |
| 2023 | -4.7% | +7.7% |
| 2024 | -16.5% | +44.8% |
| 2025 | -32.5% | +42.7% |
| 2026 | -10.0% | +18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and EBAY good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between DGZ and EBAY?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.34 over the last year and -0.19 over 5 years.
Is EBAY a good diversifier for DGZ?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgz-vs-ebay.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgz-vs-ebay/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · EBAY correlations
