DGZ vs NKTX: Correlation
How closely do DB Gold Short ETN due February 15, 2038 (DGZ) and Nkarta, Inc. (NKTX) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and NKTX?
Over the past 3 years, DGZ and NKTX moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.26 over 3. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -740.7 %².
Within DGZ's tracked universe of 156 assets, NKTX comes in at #89 by 3-year correlation. The last year tells two different stories: NKTX led by 49.4 percentage points, -26.6% for DGZ against +22.8% for NKTX. Risk is not evenly split, since NKTX carries 3.6 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 NKTX: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | NKTX (Nkarta, Inc.) | |
|---|---|---|
| 1-year return | -26.6% | +22.8% |
| 5-year return | -50.3% | -91.9% |
| Volatility (ann.) | 28.3% | 101.5% |
| Beta vs S&P 500 | -0.18 | 1.78 |
| Max drawdown (3Y) | -59.5% | -91.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | NKTX |
|---|---|---|
| 2022 | +4.9% | -61.0% |
| 2023 | -4.7% | +10.2% |
| 2024 | -16.5% | -62.3% |
| 2025 | -32.5% | -25.7% |
| 2026 | -10.0% | +48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and NKTX good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and NKTX?
As of 2026-08-27, the correlation of weekly returns between DGZ and NKTX is -0.26 over 3 years, -0.32 over 1 year and -0.15 over 5 years.
Is NKTX a good diversifier for DGZ?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 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.
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Related comparisons
Hubs: DGZ correlations · NKTX correlations
