DGZ vs ROP: Correlation
DB Gold Short ETN due February 15, 2038 (DGZ) and Roper Technologies (ROP) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and ROP?
Across a 3-year window, the weekly returns of DGZ and ROP correlate at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Stretching to 5 years gives -0.22, with an annualized covariance of -147.8 %².
By 3-year correlation, ROP places #81 of the 156 assets tracked against DGZ. The trailing year gives ROP the advantage: -26.6% versus -19.3%, a 7.3-point spread.
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 ROP: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | ROP (Roper Technologies) | |
|---|---|---|
| 1-year return | -26.6% | -19.3% |
| 5-year return | -50.3% | -9.6% |
| Volatility (ann.) | 28.3% | 20.5% |
| Beta vs S&P 500 | -0.18 | 0.55 |
| Max drawdown (3Y) | -59.5% | -46.5% |
| Market cap | – | $41.8B |
| P/E (trailing) | – | 17.6 |
| Dividend yield | – | 0.86% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | DGZ | ROP |
|---|---|---|
| 2022 | +4.9% | -11.6% |
| 2023 | -4.7% | +26.9% |
| 2024 | -16.5% | -4.1% |
| 2025 | -32.5% | -13.8% |
| 2026 | -10.0% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and ROP good diversifiers for each other?
Yes. With a correlation of -0.25, DGZ and ROP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGZ and ROP?
The DGZ/ROP correlation stands at -0.25 on a 3-year window (1 year: -0.34, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is ROP a good diversifier for DGZ?
Yes. With a correlation of -0.25, DGZ and ROP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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-rop.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgz-vs-rop/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · ROP correlations
