DGZ vs QQQ: Correlation
How closely do DB Gold Short ETN due February 15, 2038 (DGZ) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.05, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and QQQ?
Over the past 3 years, DGZ and QQQ moved with a correlation of -0.05, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.09 over 1 year against -0.05 over 3. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -27.1 %².
Among the 156 assets we track against DGZ, QQQ ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 52.9 percentage points (-26.6% for DGZ against +26.3% for QQQ).
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 QQQ: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -26.6% | +26.3% |
| 5-year return | -50.3% | +95.4% |
| Volatility (ann.) | 28.3% | 19.6% |
| Beta vs S&P 500 | -0.18 | 1.28 |
| Max drawdown (3Y) | -59.5% | -22.8% |
| Dividend yield | – | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | DGZ | QQQ |
|---|---|---|
| 2022 | +4.9% | -32.6% |
| 2023 | -4.7% | +54.9% |
| 2024 | -16.5% | +25.6% |
| 2025 | -32.5% | +20.8% |
| 2026 | -10.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and QQQ good diversifiers for each other?
Yes: at -0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and QQQ?
Using weekly returns as of 2026-08-27: -0.05 over 3 years, with -0.09 over the last year and -0.09 over 5 years.
Is QQQ a good diversifier for DGZ?
Yes: at -0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.05 mean?
On the −1 to +1 scale, -0.05 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-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgz-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · QQQ correlations
