DJP vs JETS: Correlation
Measured on weekly returns over the past three years, iPath Bloomberg Commodity Index Total Return ETN (DJP) and US Global Jets ETF (JETS) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and JETS?
Across a 3-year window, the weekly returns of DJP and JETS correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.57 versus -0.22 over 3 years. Stretching to 5 years gives -0.06, with an annualized covariance of -104.1 %².
By 3-year correlation, JETS places #16 of the 42 assets tracked against DJP. Their recent paths diverged sharply: over the last 12 months DJP outperformed by 36.0 percentage points (+49.2% for DJP against +13.2% for JETS). Risk is not evenly split, since JETS carries 1.8 times the volatility of the other side.
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.
DJP vs JETS: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | JETS (US Global Jets ETF) | |
|---|---|---|
| 1-year return | +49.2% | +13.2% |
| 5-year return | +82.1% | +30.9% |
| Volatility (ann.) | 16.3% | 29.2% |
| Beta vs S&P 500 | 0.11 | 1.16 |
| Max drawdown (3Y) | -16.4% | -35.2% |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | DJP | JETS |
|---|---|---|
| 2022 | +17.5% | -19.0% |
| 2023 | -9.8% | +11.4% |
| 2024 | +5.6% | +33.2% |
| 2025 | +17.2% | +11.6% |
| 2026 | +34.7% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and JETS good diversifiers for each other?
Yes. With a correlation of -0.22, DJP and JETS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DJP and JETS?
As of 2026-08-27, the correlation of weekly returns between DJP and JETS is -0.22 over 3 years, -0.57 over 1 year and -0.06 over 5 years.
Is JETS a good diversifier for DJP?
Yes. With a correlation of -0.22, DJP and JETS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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
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Related comparisons
Hubs: DJP correlations · JETS correlations
