DJP vs MKC: Correlation
Measured on weekly returns over the past three years, iPath Bloomberg Commodity Index Total Return ETN (DJP) and McCormick & Company (MKC) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and MKC?
Over the past 3 years, DJP and MKC moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.53 versus -0.28 over 3 years. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -121.2 %².
Among the 42 assets we track against DJP, MKC ranks #35 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DJP outperformed by 69.5 percentage points (+49.2% for DJP against -20.3% for MKC). Note the risk asymmetry: MKC runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 MKC: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | MKC (McCormick & Company) | |
|---|---|---|
| 1-year return | +49.2% | -20.3% |
| 5-year return | +82.1% | -28.5% |
| Volatility (ann.) | 16.3% | 26.5% |
| Beta vs S&P 500 | 0.11 | 0.24 |
| Max drawdown (3Y) | -16.4% | -44.3% |
| Market cap | – | $14.7B |
| P/E (trailing) | – | 9.2 |
| Dividend yield | – | 3.38% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | DJP | MKC |
|---|---|---|
| 2022 | +17.5% | -12.7% |
| 2023 | -9.8% | -15.7% |
| 2024 | +5.6% | +14.0% |
| 2025 | +17.2% | -8.3% |
| 2026 | +34.7% | -18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and MKC good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between DJP and MKC?
The DJP/MKC correlation stands at -0.28 on a 3-year window (1 year: -0.53, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is MKC a good diversifier for DJP?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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-mkc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/djp-vs-mkc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DJP correlations · MKC correlations
