DZZ vs ITGR: Correlation
Measured on weekly returns over the past three years, DB Gold Double Short ETN due February 15, 2038 (DZZ) and Integer Holdings Corporation (ITGR) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and ITGR?
On 3 years of weekly data the DZZ/ITGR correlation comes out at -0.48, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.65) runs below the 3-year figure (-0.48). The 5-year figure is -0.42, and annualized covariance runs at -1452.4 %².
ITGR is close to the least connected end of DZZ's tracked universe, ranking #73 of 73. Their recent paths diverged sharply: over the last 12 months ITGR outperformed by 24.5 percentage points (-8.6% for DZZ against +15.9% for ITGR). Risk is not evenly split, since DZZ carries 2.6 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.
DZZ vs ITGR: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | ITGR (Integer Holdings Corporation) | |
|---|---|---|
| 1-year return | -8.6% | +15.9% |
| 5-year return | -40.0% | +28.7% |
| Volatility (ann.) | 89.0% | 33.7% |
| Beta vs S&P 500 | 0.36 | 0.56 |
| Max drawdown (3Y) | -83.1% | -56.1% |
| Market cap | – | $4.3B |
| P/E (trailing) | – | 34.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | ITGR |
|---|---|---|
| 2022 | +3.0% | -20.0% |
| 2023 | -8.3% | +44.7% |
| 2024 | -35.0% | +33.8% |
| 2025 | +132.7% | -40.8% |
| 2026 | -57.2% | +59.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and ITGR good diversifiers for each other?
Yes. With a correlation of -0.48, DZZ and ITGR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DZZ and ITGR?
As of 2026-08-27, the correlation of weekly returns between DZZ and ITGR is -0.48 over 3 years, -0.65 over 1 year and -0.42 over 5 years.
Is ITGR a good diversifier for DZZ?
Yes. With a correlation of -0.48, DZZ and ITGR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
A reading of -0.48 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/dzz-vs-itgr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dzz-vs-itgr/)
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Related comparisons
Hubs: DZZ correlations · ITGR correlations
