DGZ vs FLUX: Correlation
How closely do DB Gold Short ETN due February 15, 2038 (DGZ) and Flux Power Holdings, Inc. (FLUX) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and FLUX?
On 3 years of weekly data the DGZ/FLUX correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.35) than the 3-year average (-0.22). The 5-year figure is -0.21, and annualized covariance runs at -641.9 %².
Among the 156 assets we track against DGZ, FLUX ranks #49 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DGZ outperformed by 34.9 percentage points (-26.6% for DGZ against -61.5% for FLUX). One caveat on sizing: FLUX is 3.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 FLUX: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | FLUX (Flux Power Holdings, Inc.) | |
|---|---|---|
| 1-year return | -26.6% | -61.5% |
| 5-year return | -50.3% | -92.4% |
| Volatility (ann.) | 28.3% | 103.0% |
| Beta vs S&P 500 | -0.18 | 1.61 |
| Max drawdown (3Y) | -59.5% | -92.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | FLUX |
|---|---|---|
| 2022 | +4.9% | -7.5% |
| 2023 | -4.7% | +3.5% |
| 2024 | -16.5% | -61.6% |
| 2025 | -32.5% | -19.6% |
| 2026 | -10.0% | -49.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and FLUX good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and FLUX?
As of 2026-08-27, the correlation of weekly returns between DGZ and FLUX is -0.22 over 3 years, -0.35 over 1 year and -0.21 over 5 years.
Is FLUX a good diversifier for DGZ?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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-flux.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgz-vs-flux/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · FLUX correlations
