DGZ vs PLG: Correlation
How closely do DB Gold Short ETN due February 15, 2038 (DGZ) and Platinum Group Metals Ltd. (PLG) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and PLG?
Over the past 3 years, DGZ and PLG moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -601.7 %².
By 3-year correlation, PLG places #105 of the 156 assets tracked against DGZ. The last year tells two different stories: PLG led by 31.3 percentage points, -26.6% for DGZ against +4.7% for PLG. One caveat on sizing: PLG is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PLG: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | PLG (Platinum Group Metals Ltd.) | |
|---|---|---|
| 1-year return | -26.6% | +4.7% |
| 5-year return | -50.3% | -41.5% |
| Volatility (ann.) | 28.3% | 74.7% |
| Beta vs S&P 500 | -0.18 | 1.36 |
| Max drawdown (3Y) | -59.5% | -64.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | PLG |
|---|---|---|
| 2022 | +4.9% | +10.1% |
| 2023 | -4.7% | -34.5% |
| 2024 | -16.5% | +12.3% |
| 2025 | -32.5% | +84.4% |
| 2026 | -10.0% | -34.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and PLG good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between DGZ and PLG?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.31 over the last year and -0.32 over 5 years.
Is PLG a good diversifier for DGZ?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 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-plg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgz-vs-plg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGZ correlations · PLG correlations
