DGZ vs TEN: Correlation
How closely do DB Gold Short ETN due February 15, 2038 (DGZ) and Tsakos Energy Navigation Ltd (TEN) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and TEN?
Across a 3-year window, the weekly returns of DGZ and TEN correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Stretching to 5 years gives -0.14, with an annualized covariance of -250.1 %².
Among the 156 assets we track against DGZ, TEN ranks #74 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TEN ahead by 124.8 points (-26.6% versus +98.2%).
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 TEN: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | TEN (Tsakos Energy Navigation Ltd) | |
|---|---|---|
| 1-year return | -26.6% | +98.2% |
| 5-year return | -50.3% | +584.9% |
| Volatility (ann.) | 28.3% | 36.7% |
| Beta vs S&P 500 | -0.18 | 0.66 |
| Max drawdown (3Y) | -59.5% | -52.6% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | 6.6 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGZ | TEN |
|---|---|---|
| 2022 | +4.9% | +138.5% |
| 2023 | -4.7% | +38.1% |
| 2024 | -16.5% | -16.0% |
| 2025 | -32.5% | +33.1% |
| 2026 | -10.0% | +92.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and TEN good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGZ and TEN?
As of 2026-08-27, the correlation of weekly returns between DGZ and TEN is -0.24 over 3 years, -0.29 over 1 year and -0.14 over 5 years.
Is TEN a good diversifier for DGZ?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgz-vs-ten.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgz-vs-ten/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · TEN correlations
