DJP vs PNR: Correlation
How closely do iPath Bloomberg Commodity Index Total Return ETN (DJP) and Pentair (PNR) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and PNR?
On 3 years of weekly data the DJP/PNR correlation comes out at -0.19, 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 (-0.19). The 5-year figure is -0.09, and annualized covariance runs at -87.0 %².
Within DJP's tracked universe of 42 assets, PNR comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DJP ahead by 91.7 points (+49.2% versus -42.5%). One caveat on sizing: PNR is 1.7 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 PNR: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | PNR (Pentair) | |
|---|---|---|
| 1-year return | +49.2% | -42.5% |
| 5-year return | +82.1% | -14.1% |
| Volatility (ann.) | 16.3% | 28.2% |
| Beta vs S&P 500 | 0.11 | 1.07 |
| Max drawdown (3Y) | -16.4% | -45.0% |
| Market cap | – | $9.9B |
| P/E (trailing) | – | 16.2 |
| Dividend yield | – | 1.65% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | DJP | PNR |
|---|---|---|
| 2022 | +17.5% | -37.4% |
| 2023 | -9.8% | +64.2% |
| 2024 | +5.6% | +40.0% |
| 2025 | +17.2% | +4.5% |
| 2026 | +34.7% | -39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and PNR good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between DJP and PNR?
As of 2026-08-27, the correlation of weekly returns between DJP and PNR is -0.19 over 3 years, -0.36 over 1 year and -0.09 over 5 years.
Is PNR a good diversifier for DJP?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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-pnr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/djp-vs-pnr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DJP correlations · PNR correlations
