DGZ vs VICI: Correlation
How closely do DB Gold Short ETN due February 15, 2038 (DGZ) and Vici Properties (VICI) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGZ and VICI?
Across a 3-year window, the weekly returns of DGZ and VICI correlate at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives -0.16, with an annualized covariance of -96.5 %².
By 3-year correlation, VICI places #33 of the 156 assets tracked against DGZ. Over the last 12 months VICI came out ahead by 7.9 percentage points (-26.6% against -18.7%). One caveat on sizing: DGZ is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VICI: side by side
| DGZ (DB Gold Short ETN due February 15, 2038) | VICI (Vici Properties) | |
|---|---|---|
| 1-year return | -26.6% | -18.7% |
| 5-year return | -50.3% | +9.9% |
| Volatility (ann.) | 28.3% | 18.0% |
| Beta vs S&P 500 | -0.18 | 0.35 |
| Max drawdown (3Y) | -59.5% | -19.1% |
| Market cap | – | $28.4B |
| P/E (trailing) | – | 10.1 |
| Dividend yield | – | 6.92% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | DGZ | VICI |
|---|---|---|
| 2022 | +4.9% | +13.0% |
| 2023 | -4.7% | +3.6% |
| 2024 | -16.5% | -3.1% |
| 2025 | -32.5% | +1.9% |
| 2026 | -10.0% | -5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGZ and VICI good diversifiers for each other?
Yes. With a correlation of -0.19, DGZ and VICI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGZ and VICI?
As of 2026-08-27, the correlation of weekly returns between DGZ and VICI is -0.19 over 3 years, -0.21 over 1 year and -0.16 over 5 years.
Is VICI a good diversifier for DGZ?
Yes. With a correlation of -0.19, DGZ and VICI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 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-vici.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgz-vs-vici/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGZ correlations · VICI correlations
