DJP vs LEN: Correlation
Measured on weekly returns over the past three years, iPath Bloomberg Commodity Index Total Return ETN (DJP) and Lennar (LEN) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and LEN?
Over the past 3 years, DJP and LEN moved with a correlation of -0.24, which is 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. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -128.8 %².
By 3-year correlation, LEN places #27 of the 42 assets tracked against DJP. The last year tells two different stories: DJP led by 84.1 percentage points, +49.2% for DJP against -34.9% for LEN. Risk is not evenly split, since LEN carries 2.0 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 LEN: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | LEN (Lennar) | |
|---|---|---|
| 1-year return | +49.2% | -34.9% |
| 5-year return | +82.1% | -11.7% |
| Volatility (ann.) | 16.3% | 32.6% |
| Beta vs S&P 500 | 0.11 | 0.84 |
| Max drawdown (3Y) | -16.4% | -54.5% |
| Market cap | – | $20.5B |
| P/E (trailing) | – | 13.7 |
| Dividend yield | – | 2.29% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | DJP | LEN |
|---|---|---|
| 2022 | +17.5% | -20.6% |
| 2023 | -9.8% | +66.9% |
| 2024 | +5.6% | -7.3% |
| 2025 | +17.2% | -20.8% |
| 2026 | +34.7% | -15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and LEN good diversifiers for each other?
Yes. With a correlation of -0.24, DJP and LEN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DJP and LEN?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.29 over the last year and -0.12 over 5 years.
Is LEN a good diversifier for DJP?
Yes. With a correlation of -0.24, DJP and LEN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/djp-vs-len.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/djp-vs-len/)
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Related comparisons
Hubs: DJP correlations · LEN correlations
