DJP vs NVR: Correlation
How closely do iPath Bloomberg Commodity Index Total Return ETN (DJP) and NVR, Inc. (NVR) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and NVR?
Over the past 3 years, DJP and NVR moved with a correlation of -0.32, which is 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. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -122.0 %².
NVR is close to the least connected end of DJP's tracked universe, ranking #39 of 42. Their recent paths diverged sharply: over the last 12 months DJP outperformed by 70.0 percentage points (+49.2% for DJP against -20.8% for NVR).
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 NVR: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | NVR (NVR, Inc.) | |
|---|---|---|
| 1-year return | +49.2% | -20.8% |
| 5-year return | +82.1% | +24.2% |
| Volatility (ann.) | 16.3% | 23.4% |
| Beta vs S&P 500 | 0.11 | 0.53 |
| Max drawdown (3Y) | -16.4% | -43.9% |
| Market cap | – | $17.0B |
| P/E (trailing) | – | 16.6 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | DJP | NVR |
|---|---|---|
| 2022 | +17.5% | -21.9% |
| 2023 | -9.8% | +51.8% |
| 2024 | +5.6% | +16.8% |
| 2025 | +17.2% | -10.8% |
| 2026 | +34.7% | -12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and NVR good diversifiers for each other?
Yes. With a correlation of -0.32, DJP and NVR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DJP and NVR?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.33 over the last year and -0.13 over 5 years.
Is NVR a good diversifier for DJP?
Yes. With a correlation of -0.32, DJP and NVR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/djp-vs-nvr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/djp-vs-nvr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DJP correlations · NVR correlations
