DGZ vs MOS: Correlation
Measured on weekly returns over the past three years, DB Gold Short ETN due February 15, 2038 (DGZ) and Mosaic Company (The) (MOS) carry a correlation of -0.14, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and MOS?
Over the past 3 years, DGZ and MOS moved with a correlation of -0.14, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.14 lands near the 3-year figure. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -141.7 %².
Within DGZ's tracked universe of 156 assets, MOS comes in at #10 by 3-year correlation. Twelve-month performance is nearly a tie, at -26.6% for DGZ and -26.6% for MOS.
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 MOS: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | MOS (Mosaic Company (The)) | |
|---|---|---|
| 1-year return | -26.6% | -26.6% |
| 5-year return | -50.3% | -17.1% |
| Volatility (ann.) | 28.3% | 36.6% |
| Beta vs S&P 500 | -0.18 | 0.78 |
| Max drawdown (3Y) | -59.5% | -45.7% |
| Market cap | – | $7.6B |
| P/E (trailing) | – | – |
| Dividend yield | – | 3.64% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | DGZ | MOS |
|---|---|---|
| 2022 | +4.9% | +12.8% |
| 2023 | -4.7% | -16.4% |
| 2024 | -16.5% | -29.1% |
| 2025 | -32.5% | +1.1% |
| 2026 | -10.0% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and MOS good diversifiers for each other?
Yes. With a correlation of -0.14, DGZ and MOS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGZ and MOS?
The DGZ/MOS correlation stands at -0.14 on a 3-year window (1 year: -0.14, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is MOS a good diversifier for DGZ?
Yes. With a correlation of -0.14, DGZ and MOS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.14 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-mos.json
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[](https://www.pairbook.io/pair/dgz-vs-mos/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGZ correlations · MOS correlations
