DJP vs LOW: Correlation
How closely do iPath Bloomberg Commodity Index Total Return ETN (DJP) and Lowe's (LOW) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and LOW?
Over the past 3 years, DJP and LOW moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.25 over 3. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -103.0 %².
Among the 42 assets we track against DJP, LOW ranks #30 by 3-year correlation. The last year tells two different stories: DJP led by 67.6 percentage points, +49.2% for DJP against -18.4% for LOW. One caveat on sizing: LOW is 1.5 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.
DJP vs LOW: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | LOW (Lowe's) | |
|---|---|---|
| 1-year return | +49.2% | -18.4% |
| 5-year return | +82.1% | +11.1% |
| Volatility (ann.) | 16.3% | 24.8% |
| Beta vs S&P 500 | 0.11 | 0.83 |
| Max drawdown (3Y) | -16.4% | -29.0% |
| Market cap | – | – |
| P/E (trailing) | – | 17.8 |
| Dividend yield | – | 2.31% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | DJP | LOW |
|---|---|---|
| 2022 | +17.5% | -21.5% |
| 2023 | -9.8% | +14.0% |
| 2024 | +5.6% | +13.0% |
| 2025 | +17.2% | -0.3% |
| 2026 | +34.7% | -12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and LOW good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DJP and LOW?
The DJP/LOW correlation stands at -0.25 on a 3-year window (1 year: -0.29, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is LOW a good diversifier for DJP?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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 · LOW correlations
