DJP vs SAM: Correlation
iPath Bloomberg Commodity Index Total Return ETN (DJP) and Boston Beer Company, Inc. (The) (SAM) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and SAM?
On 3 years of weekly data the DJP/SAM correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.19 lands near the 3-year figure. The 5-year figure is -0.10, and annualized covariance runs at -141.6 %².
Within DJP's tracked universe of 42 assets, SAM comes in at #31 by 3-year correlation. The last year tells two different stories: DJP led by 66.8 percentage points, +49.2% for DJP against -17.6% for SAM. Note the risk asymmetry: SAM runs 2.2 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 SAM: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | SAM (Boston Beer Company, Inc. (The)) | |
|---|---|---|
| 1-year return | +49.2% | -17.6% |
| 5-year return | +82.1% | -68.3% |
| Volatility (ann.) | 16.3% | 35.3% |
| Beta vs S&P 500 | 0.11 | 0.21 |
| Max drawdown (3Y) | -16.4% | -59.1% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DJP | SAM |
|---|---|---|
| 2022 | +17.5% | -34.8% |
| 2023 | -9.8% | +4.9% |
| 2024 | +5.6% | -13.2% |
| 2025 | +17.2% | -35.0% |
| 2026 | +34.7% | -6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and SAM good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DJP and SAM?
The DJP/SAM correlation stands at -0.25 on a 3-year window (1 year: -0.19, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is SAM a good diversifier for DJP?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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-sam.json
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Related comparisons
Hubs: DJP correlations · SAM correlations
