DJP vs VET: Correlation
iPath Bloomberg Commodity Index Total Return ETN (DJP) and Vermilion Energy Inc. Common (Canada) (VET) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DJP and VET?
Across a 3-year window, the weekly returns of DJP and VET correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.56, with an annualized covariance of 384.5 %².
Within DJP's tracked universe of 42 assets, VET comes in at #5 by 3-year correlation. The last year tells two different stories: VET led by 19.2 percentage points, +49.2% for DJP against +68.4% for VET. Risk is not evenly split, since VET carries 2.7 times the volatility of the other side.
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 VET: side by side
| DJP (iPath Bloomberg Commodity Index Total Return ETN) | VET (Vermilion Energy Inc. Common (Canada)) | |
|---|---|---|
| 1-year return | +49.2% | +68.4% |
| 5-year return | +82.1% | +115.2% |
| Volatility (ann.) | 16.3% | 43.6% |
| Beta vs S&P 500 | 0.11 | 0.31 |
| Max drawdown (3Y) | -16.4% | -63.4% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | – | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DJP | VET |
|---|---|---|
| 2022 | +17.5% | +42.1% |
| 2023 | -9.8% | -30.3% |
| 2024 | +5.6% | -19.4% |
| 2025 | +17.2% | -9.1% |
| 2026 | +34.7% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJP and VET good diversifiers for each other?
To a limited degree. At 0.54 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 VET?
The DJP/VET correlation stands at 0.54 on a 3-year window (1 year: 0.47, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is VET a good diversifier for DJP?
To a limited degree. At 0.54 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 0.54 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 · VET correlations
