DGZ vs PXS: Correlation
Measured on weekly returns over the past three years, DB Gold Short ETN due February 15, 2038 (DGZ) and Pyxis Tankers Inc. (PXS) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and PXS?
Across a 3-year window, the weekly returns of DGZ and PXS correlate at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Stretching to 5 years gives -0.21, with an annualized covariance of -293.7 %².
Within DGZ's tracked universe of 156 assets, PXS comes in at #96 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PXS ahead by 126.6 points (-26.6% versus +100.0%).
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 PXS: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | PXS (Pyxis Tankers Inc.) | |
|---|---|---|
| 1-year return | -26.6% | +100.0% |
| 5-year return | -50.3% | +92.9% |
| Volatility (ann.) | 28.3% | 37.9% |
| Beta vs S&P 500 | -0.18 | 0.42 |
| Max drawdown (3Y) | -59.5% | -54.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 15.4 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | PXS |
|---|---|---|
| 2022 | +4.9% | +151.0% |
| 2023 | -4.7% | -13.5% |
| 2024 | -16.5% | -5.8% |
| 2025 | -32.5% | -28.5% |
| 2026 | -10.0% | +92.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and PXS good diversifiers for each other?
Yes. With a correlation of -0.27, DGZ and PXS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGZ and PXS?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.27 over the last year and -0.21 over 5 years.
Is PXS a good diversifier for DGZ?
Yes. With a correlation of -0.27, DGZ and PXS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgz-vs-pxs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgz-vs-pxs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGZ correlations · PXS correlations
