DJP vs KMB: Correlation
How closely do iPath Bloomberg Commodity Index Total Return ETN (DJP) and Kimberly-Clark (KMB) 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 DJP and KMB?
On 3 years of weekly data the DJP/KMB correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.18, and annualized covariance runs at -74.4 %².
Within DJP's tracked universe of 42 assets, KMB comes in at #26 by 3-year correlation. The last year tells two different stories: DJP led by 60.6 percentage points, +49.2% for DJP against -11.4% for KMB.
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 KMB: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | KMB (Kimberly-Clark) | |
|---|---|---|
| 1-year return | +49.2% | -11.4% |
| 5-year return | +82.1% | -2.6% |
| Volatility (ann.) | 16.3% | 19.3% |
| Beta vs S&P 500 | 0.11 | 0.15 |
| Max drawdown (3Y) | -16.4% | -34.1% |
| Market cap | – | $36.6B |
| P/E (trailing) | – | 21.7 |
| Dividend yield | – | 4.60% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | DJP | KMB |
|---|---|---|
| 2022 | +17.5% | -1.6% |
| 2023 | -9.8% | -7.1% |
| 2024 | +5.6% | +11.8% |
| 2025 | +17.2% | -19.9% |
| 2026 | +34.7% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and KMB good diversifiers for each other?
Yes. With a correlation of -0.24, DJP and KMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DJP and KMB?
As of 2026-08-27, the correlation of weekly returns between DJP and KMB is -0.24 over 3 years, -0.33 over 1 year and -0.18 over 5 years.
Is KMB a good diversifier for DJP?
Yes. With a correlation of -0.24, DJP and KMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
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Related comparisons
Hubs: DJP correlations · KMB correlations
