DGZ vs FIS: Correlation
DB Gold Short ETN due February 15, 2038 (DGZ) and Fidelity National Information Services (FIS) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and FIS?
On 3 years of weekly data the DGZ/FIS correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.35) runs below the 3-year figure (-0.23). The 5-year figure is -0.13, and annualized covariance runs at -180.4 %².
By 3-year correlation, FIS places #58 of the 156 assets tracked against DGZ. Over the last 12 months DGZ came out ahead by 13.4 percentage points (-26.6% against -40.0%).
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 FIS: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | FIS (Fidelity National Information Services) | |
|---|---|---|
| 1-year return | -26.6% | -40.0% |
| 5-year return | -50.3% | -63.9% |
| Volatility (ann.) | 28.3% | 27.2% |
| Beta vs S&P 500 | -0.18 | 0.57 |
| Max drawdown (3Y) | -59.5% | -56.5% |
| Market cap | – | $20.9B |
| P/E (trailing) | – | 6.2 |
| Dividend yield | – | 4.13% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | DGZ | FIS |
|---|---|---|
| 2022 | +4.9% | -36.5% |
| 2023 | -4.7% | -8.2% |
| 2024 | -16.5% | +37.0% |
| 2025 | -32.5% | -15.8% |
| 2026 | -10.0% | -37.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and FIS good diversifiers for each other?
Yes. With a correlation of -0.23, DGZ and FIS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGZ and FIS?
The DGZ/FIS correlation stands at -0.23 on a 3-year window (1 year: -0.35, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is FIS a good diversifier for DGZ?
Yes. With a correlation of -0.23, DGZ and FIS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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/dgz-vs-fis.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgz-vs-fis/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGZ correlations · FIS correlations
