DJP vs TCI: Correlation
How closely do iPath Bloomberg Commodity Index Total Return ETN (DJP) and Transcontinental Realty Investors, Inc. (TCI) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and TCI?
Over the past 3 years, DJP and TCI moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.25 over 3 years. Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -181.5 %².
By 3-year correlation, TCI places #32 of the 42 assets tracked against DJP. The last year tells two different stories: DJP led by 64.5 percentage points, +49.2% for DJP against -15.3% for TCI. Note the risk asymmetry: TCI runs 2.7 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 TCI: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | TCI (Transcontinental Realty Investors, Inc.) | |
|---|---|---|
| 1-year return | +49.2% | -15.3% |
| 5-year return | +82.1% | +9.7% |
| Volatility (ann.) | 16.3% | 44.2% |
| Beta vs S&P 500 | 0.11 | 0.28 |
| Max drawdown (3Y) | -16.4% | -43.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 41.9 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DJP | TCI |
|---|---|---|
| 2022 | +17.5% | +13.0% |
| 2023 | -9.8% | -21.8% |
| 2024 | +5.6% | -13.7% |
| 2025 | +17.2% | +96.6% |
| 2026 | +34.7% | -32.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and TCI 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 TCI?
As of 2026-08-27, the correlation of weekly returns between DJP and TCI is -0.25 over 3 years, -0.40 over 1 year and -0.17 over 5 years.
Is TCI 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?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DJP correlations · TCI correlations
