DGZ vs FTH: Correlation
Measured on weekly returns over the past three years, DB Gold Short ETN due February 15, 2038 (DGZ) and Faeth Therapeutics, Inc. (FTH) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and FTH?
Across a 3-year window, the weekly returns of DGZ and FTH correlate at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.30 over 3 years. Stretching to 5 years gives -0.29, with an annualized covariance of -1606.0 %².
By 3-year correlation, FTH places #111 of the 156 assets tracked against DGZ. Their recent paths diverged sharply: over the last 12 months FTH outperformed by 347.3 percentage points (-26.6% for DGZ against +320.7% for FTH). Risk is not evenly split, since FTH carries 6.7 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.
DGZ vs FTH: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | FTH (Faeth Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -26.6% | +320.7% |
| 5-year return | -50.3% | -83.6% |
| Volatility (ann.) | 28.3% | 189.5% |
| Beta vs S&P 500 | -0.18 | 1.77 |
| Max drawdown (3Y) | -59.5% | -84.3% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | FTH |
|---|---|---|
| 2022 | +4.9% | -74.3% |
| 2023 | -4.7% | -53.6% |
| 2024 | -16.5% | -29.2% |
| 2025 | -32.5% | +8.9% |
| 2026 | -10.0% | +216.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and FTH good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and FTH?
The DGZ/FTH correlation stands at -0.30 on a 3-year window (1 year: -0.40, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is FTH a good diversifier for DGZ?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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-fth.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgz-vs-fth/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · FTH correlations
