DZZ vs FLXS: Correlation
Measured on weekly returns over the past three years, DB Gold Double Short ETN due February 15, 2038 (DZZ) and Flexsteel Industries, Inc. (FLXS) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and FLXS?
Across a 3-year window, the weekly returns of DZZ and FLXS correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.19 over 3 years. Stretching to 5 years gives -0.16, with an annualized covariance of -1013.7 %².
By 3-year correlation, FLXS places #16 of the 73 assets tracked against DZZ. Their recent paths diverged sharply: over the last 12 months FLXS outperformed by 91.6 percentage points (-8.6% for DZZ against +83.0% for FLXS). One caveat on sizing: DZZ is 1.5 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.
DZZ vs FLXS: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | FLXS (Flexsteel Industries, Inc.) | |
|---|---|---|
| 1-year return | -8.6% | +83.0% |
| 5-year return | -40.0% | +162.8% |
| Volatility (ann.) | 89.0% | 58.9% |
| Beta vs S&P 500 | 0.36 | 0.68 |
| Max drawdown (3Y) | -83.1% | -54.1% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 13.4 |
| Dividend yield | 0.00% | 1.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | FLXS |
|---|---|---|
| 2022 | +3.0% | -40.7% |
| 2023 | -8.3% | +26.1% |
| 2024 | -35.0% | +192.9% |
| 2025 | +132.7% | -25.9% |
| 2026 | -57.2% | +109.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and FLXS 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 DZZ and FLXS?
The DZZ/FLXS correlation stands at -0.19 on a 3-year window (1 year: -0.35, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is FLXS a good diversifier for DZZ?
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?
On the −1 to +1 scale, -0.19 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/dzz-vs-flxs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dzz-vs-flxs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DZZ correlations · FLXS correlations
