DJP vs PHM: Correlation
How closely do iPath Bloomberg Commodity Index Total Return ETN (DJP) and PulteGroup (PHM) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and PHM?
Across a 3-year window, the weekly returns of DJP and PHM correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.33) runs below the 3-year figure (-0.22). Stretching to 5 years gives -0.08, with an annualized covariance of -118.4 %².
Among the 42 assets we track against DJP, PHM ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DJP ahead by 51.7 points (+49.2% versus -2.5%). One caveat on sizing: PHM is 2.0 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 PHM: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | PHM (PulteGroup) | |
|---|---|---|
| 1-year return | +49.2% | -2.5% |
| 5-year return | +82.1% | +145.5% |
| Volatility (ann.) | 16.3% | 32.2% |
| Beta vs S&P 500 | 0.11 | 0.82 |
| Max drawdown (3Y) | -16.4% | -38.0% |
| Market cap | – | – |
| P/E (trailing) | – | 13.3 |
| Dividend yield | – | 0.77% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | DJP | PHM |
|---|---|---|
| 2022 | +17.5% | -19.2% |
| 2023 | -9.8% | +128.8% |
| 2024 | +5.6% | +6.2% |
| 2025 | +17.2% | +8.5% |
| 2026 | +34.7% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and PHM good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DJP and PHM?
As of 2026-08-27, the correlation of weekly returns between DJP and PHM is -0.22 over 3 years, -0.33 over 1 year and -0.08 over 5 years.
Is PHM a good diversifier for DJP?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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.
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Related comparisons
Hubs: DJP correlations · PHM correlations
