DJP vs MAS: Correlation
Measured on weekly returns over the past three years, iPath Bloomberg Commodity Index Total Return ETN (DJP) and Masco (MAS) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and MAS?
Across a 3-year window, the weekly returns of DJP and MAS correlate at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.23). Stretching to 5 years gives -0.12, with an annualized covariance of -109.7 %².
Within DJP's tracked universe of 42 assets, MAS comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DJP ahead by 49.7 points (+49.2% versus -0.5%). One caveat on sizing: MAS is 1.8 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 MAS: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | MAS (Masco) | |
|---|---|---|
| 1-year return | +49.2% | -0.5% |
| 5-year return | +82.1% | +29.1% |
| Volatility (ann.) | 16.3% | 29.6% |
| Beta vs S&P 500 | 0.11 | 0.95 |
| Max drawdown (3Y) | -16.4% | -30.9% |
| Market cap | – | $14.4B |
| P/E (trailing) | – | 17.0 |
| Dividend yield | – | 1.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | DJP | MAS |
|---|---|---|
| 2022 | +17.5% | -32.1% |
| 2023 | -9.8% | +46.6% |
| 2024 | +5.6% | +10.0% |
| 2025 | +17.2% | -10.9% |
| 2026 | +34.7% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and MAS good diversifiers for each other?
Yes. With a correlation of -0.23, DJP and MAS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DJP and MAS?
As of 2026-08-27, the correlation of weekly returns between DJP and MAS is -0.23 over 3 years, -0.36 over 1 year and -0.12 over 5 years.
Is MAS a good diversifier for DJP?
Yes. With a correlation of -0.23, DJP and MAS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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.
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Related comparisons
Hubs: DJP correlations · MAS correlations
