DZZ vs LNN: Correlation
How closely do DB Gold Double Short ETN due February 15, 2038 (DZZ) and Lindsay Corporation (LNN) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and LNN?
On 3 years of weekly data the DZZ/LNN correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.50) than the 3-year average (-0.28). The 5-year figure is -0.23, and annualized covariance runs at -663.0 %².
Among the 73 assets we track against DZZ, LNN ranks #51 by 3-year correlation. Over the last 12 months DZZ came out ahead by 9.0 percentage points (-8.6% against -17.6%). Note the risk asymmetry: DZZ runs 3.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 LNN: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | LNN (Lindsay Corporation) | |
|---|---|---|
| 1-year return | -8.6% | -17.6% |
| 5-year return | -40.0% | -27.8% |
| Volatility (ann.) | 89.0% | 26.8% |
| Beta vs S&P 500 | 0.36 | 0.46 |
| Max drawdown (3Y) | -83.1% | -30.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 21.9 |
| Dividend yield | 0.00% | 1.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | LNN |
|---|---|---|
| 2022 | +3.0% | +8.1% |
| 2023 | -8.3% | -19.8% |
| 2024 | -35.0% | -7.3% |
| 2025 | +132.7% | +0.8% |
| 2026 | -57.2% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and LNN good diversifiers for each other?
Yes. With a correlation of -0.28, DZZ and LNN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DZZ and LNN?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.50 over the last year and -0.23 over 5 years.
Is LNN a good diversifier for DZZ?
Yes. With a correlation of -0.28, DZZ and LNN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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-lnn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dzz-vs-lnn/)
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Related comparisons
Hubs: DZZ correlations · LNN correlations
