DGZ vs LHX: Correlation
Measured on weekly returns over the past three years, DB Gold Short ETN due February 15, 2038 (DGZ) and L3Harris (LHX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and LHX?
Across a 3-year window, the weekly returns of DGZ and LHX correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.21 over 3. Stretching to 5 years gives -0.19, with an annualized covariance of -137.0 %².
By 3-year correlation, LHX places #44 of the 156 assets tracked against DGZ. Their recent paths diverged sharply: over the last 12 months LHX outperformed by 22.8 percentage points (-26.6% for DGZ against -3.8% for LHX).
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 LHX: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | LHX (L3Harris) | |
|---|---|---|
| 1-year return | -26.6% | -3.8% |
| 5-year return | -50.3% | +24.4% |
| Volatility (ann.) | 28.3% | 23.0% |
| Beta vs S&P 500 | -0.18 | 0.51 |
| Max drawdown (3Y) | -59.5% | -30.3% |
| Market cap | – | $48.8B |
| P/E (trailing) | – | 26.6 |
| Dividend yield | – | 1.09% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | DGZ | LHX |
|---|---|---|
| 2022 | +4.9% | -0.5% |
| 2023 | -4.7% | +3.7% |
| 2024 | -16.5% | +1.9% |
| 2025 | -32.5% | +42.3% |
| 2026 | -10.0% | -10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and LHX good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and LHX?
The DGZ/LHX correlation stands at -0.21 on a 3-year window (1 year: -0.22, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is LHX a good diversifier for DGZ?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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-lhx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgz-vs-lhx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · LHX correlations
