DGZ vs TROW: Correlation
DB Gold Short ETN due February 15, 2038 (DGZ) and T. Rowe Price (TROW) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and TROW?
Over the past 3 years, DGZ and TROW moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.18 over 1 year against -0.15 over 3. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -99.5 %².
Among the 156 assets we track against DGZ, TROW ranks #11 by 3-year correlation. The last year tells two different stories: TROW led by 34.7 percentage points, -26.6% for DGZ against +8.1% for TROW.
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 TROW: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | TROW (T. Rowe Price) | |
|---|---|---|
| 1-year return | -26.6% | +8.1% |
| 5-year return | -50.3% | -37.0% |
| Volatility (ann.) | 28.3% | 23.5% |
| Beta vs S&P 500 | -0.18 | 1.10 |
| Max drawdown (3Y) | -59.5% | -34.0% |
| Market cap | – | $24.0B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | – | 4.57% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | DGZ | TROW |
|---|---|---|
| 2022 | +4.9% | -42.2% |
| 2023 | -4.7% | +3.4% |
| 2024 | -16.5% | +9.7% |
| 2025 | -32.5% | -4.7% |
| 2026 | -10.0% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and TROW good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between DGZ and TROW?
As of 2026-08-27, the correlation of weekly returns between DGZ and TROW is -0.15 over 3 years, -0.18 over 1 year and -0.18 over 5 years.
Is TROW a good diversifier for DGZ?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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-trow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgz-vs-trow/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · TROW correlations
