DGZ vs OLB: Correlation
DB Gold Short ETN due February 15, 2038 (DGZ) and The OLB Group, Inc. (OLB) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and OLB?
Over the past 3 years, DGZ and OLB moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.32 versus -0.19 over 3 years. Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -626.2 %².
By 3-year correlation, OLB places #31 of the 156 assets tracked against DGZ. Their recent paths diverged sharply: over the last 12 months DGZ outperformed by 46.3 percentage points (-26.6% for DGZ against -72.9% for OLB). Risk is not evenly split, since OLB carries 4.0 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 OLB: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | OLB (The OLB Group, Inc.) | |
|---|---|---|
| 1-year return | -26.6% | -72.9% |
| 5-year return | -50.3% | -99.2% |
| Volatility (ann.) | 28.3% | 114.0% |
| Beta vs S&P 500 | -0.18 | 1.51 |
| Max drawdown (3Y) | -59.5% | -97.5% |
| Market cap | – | – |
| P/E (trailing) | – | 0.2 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | OLB |
|---|---|---|
| 2022 | +4.9% | -68.3% |
| 2023 | -4.7% | +26.4% |
| 2024 | -16.5% | -80.5% |
| 2025 | -32.5% | -70.1% |
| 2026 | -10.0% | -50.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and OLB good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and OLB?
The DGZ/OLB correlation stands at -0.19 on a 3-year window (1 year: -0.32, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is OLB a good diversifier for DGZ?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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-olb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgz-vs-olb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGZ correlations · OLB correlations
