DGZ vs HAE: Correlation
DB Gold Short ETN due February 15, 2038 (DGZ) and Haemonetics Corporation (HAE) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and HAE?
Over the past 3 years, DGZ and HAE moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.27). Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -354.5 %².
By 3-year correlation, HAE places #93 of the 156 assets tracked against DGZ. The last year tells two different stories: HAE led by 117.4 percentage points, -26.6% for DGZ against +90.8% for HAE. Note the risk asymmetry: HAE runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 HAE: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | HAE (Haemonetics Corporation) | |
|---|---|---|
| 1-year return | -26.6% | +90.8% |
| 5-year return | -50.3% | +69.8% |
| Volatility (ann.) | 28.3% | 46.1% |
| Beta vs S&P 500 | -0.18 | 0.53 |
| Max drawdown (3Y) | -59.5% | -51.0% |
| Market cap | – | $4.8B |
| P/E (trailing) | – | 51.5 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | HAE |
|---|---|---|
| 2022 | +4.9% | +48.3% |
| 2023 | -4.7% | +8.7% |
| 2024 | -16.5% | -8.7% |
| 2025 | -32.5% | +2.7% |
| 2026 | -10.0% | +31.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and HAE good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between DGZ and HAE?
The DGZ/HAE correlation stands at -0.27 on a 3-year window (1 year: -0.47, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is HAE a good diversifier for DGZ?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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-hae.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgz-vs-hae/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGZ correlations · HAE correlations
