DJP vs UCIB: Correlation
iPath Bloomberg Commodity Index Total Return ETN (DJP) and ETRACS UBS Bloomberg Constant Maturity Commodity Index (UCIB) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and UCIB?
Across a 3-year window, the weekly returns of DJP and UCIB correlate at 0.61, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 174.8 %².
UCIB is one of the assets that tracks DJP most closely: it ranks #2 out of the 42 assets we track against DJP. Over the last 12 months DJP came out ahead by 10.7 percentage points (+49.2% against +38.5%).
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 UCIB: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | UCIB (ETRACS UBS Bloomberg Constant Maturity Commodity Index) | |
|---|---|---|
| 1-year return | +49.2% | +38.5% |
| 5-year return | +82.1% | +88.1% |
| Volatility (ann.) | 16.3% | 17.7% |
| Beta vs S&P 500 | 0.11 | 0.28 |
| Max drawdown (3Y) | -16.4% | -22.7% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DJP | UCIB |
|---|---|---|
| 2022 | +17.5% | +18.2% |
| 2023 | -9.8% | -2.3% |
| 2024 | +5.6% | +6.6% |
| 2025 | +17.2% | +9.0% |
| 2026 | +34.7% | +32.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and UCIB good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DJP and UCIB?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.59 over the last year and 0.77 over 5 years.
Is UCIB a good diversifier for DJP?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/djp-vs-ucib.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/djp-vs-ucib/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DJP correlations · UCIB correlations
