DGZ vs FURY: Correlation
How closely do DB Gold Short ETN due February 15, 2038 (DGZ) and Fury Gold Mines Limited (FURY) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and FURY?
Across a 3-year window, the weekly returns of DGZ and FURY correlate at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.28 over 3. Stretching to 5 years gives -0.30, with an annualized covariance of -491.4 %².
Within DGZ's tracked universe of 156 assets, FURY comes in at #101 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FURY ahead by 48.6 points (-26.6% versus +22.0%). Risk is not evenly split, since FURY carries 2.2 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 FURY: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | FURY (Fury Gold Mines Limited) | |
|---|---|---|
| 1-year return | -26.6% | +22.0% |
| 5-year return | -50.3% | -17.1% |
| Volatility (ann.) | 28.3% | 62.8% |
| Beta vs S&P 500 | -0.18 | 0.82 |
| Max drawdown (3Y) | -59.5% | -46.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | FURY |
|---|---|---|
| 2022 | +4.9% | -33.3% |
| 2023 | -4.7% | +18.5% |
| 2024 | -16.5% | -26.9% |
| 2025 | -32.5% | +59.5% |
| 2026 | -10.0% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and FURY good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and FURY?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.29 over the last year and -0.30 over 5 years.
Is FURY a good diversifier for DGZ?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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-fury.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgz-vs-fury/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · FURY correlations
