DZZ vs IAG: Correlation
How closely do DB Gold Double Short ETN due February 15, 2038 (DZZ) and Iamgold Corporation (IAG) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and IAG?
Over the past 3 years, DZZ and IAG moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.36 over 1 year against -0.31 over 3. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -1715.3 %².
Among the 73 assets we track against DZZ, IAG ranks #64 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IAG ahead by 143.8 points (-8.6% versus +135.2%).
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 IAG: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | IAG (Iamgold Corporation) | |
|---|---|---|
| 1-year return | -8.6% | +135.2% |
| 5-year return | -40.0% | +832.5% |
| Volatility (ann.) | 89.0% | 61.7% |
| Beta vs S&P 500 | 0.36 | 1.24 |
| Max drawdown (3Y) | -83.1% | -43.3% |
| Market cap | – | $12.3B |
| P/E (trailing) | – | 10.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | IAG |
|---|---|---|
| 2022 | +3.0% | -17.6% |
| 2023 | -8.3% | -1.9% |
| 2024 | -35.0% | +104.0% |
| 2025 | +132.7% | +219.6% |
| 2026 | -57.2% | +30.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and IAG good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between DZZ and IAG?
The DZZ/IAG correlation stands at -0.31 on a 3-year window (1 year: -0.36, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is IAG a good diversifier for DZZ?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dzz-vs-iag.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dzz-vs-iag/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DZZ correlations · IAG correlations
