DZZ vs MSAI: Correlation
How closely do DB Gold Double Short ETN due February 15, 2038 (DZZ) and MultiSensor AI Holdings, Inc. (MSAI) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and MSAI?
Across a 3-year window, the weekly returns of DZZ and MSAI correlate at 0.37, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.66 versus 0.37 over 3 years. Stretching to 5 years gives 0.36, with an annualized covariance of 4062.7 %².
Few assets follow DZZ as closely as MSAI, which ranks #3 of 73 tracked partners. Correlation aside, the last 12 months split them widely, with DZZ ahead by 72.9 points (-8.6% versus -81.5%).
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 MSAI: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | MSAI (MultiSensor AI Holdings, Inc.) | |
|---|---|---|
| 1-year return | -8.6% | -81.5% |
| 5-year return | -40.0% | -98.6% |
| Volatility (ann.) | 89.0% | 122.9% |
| Beta vs S&P 500 | 0.36 | 1.24 |
| Max drawdown (3Y) | -83.1% | -99.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | MSAI |
|---|---|---|
| 2022 | +3.0% | +4.0% |
| 2023 | -8.3% | -67.2% |
| 2024 | -35.0% | -45.1% |
| 2025 | +132.7% | -84.3% |
| 2026 | -57.2% | -52.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and MSAI good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DZZ and MSAI?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.66 over the last year and 0.36 over 5 years.
Is MSAI a good diversifier for DZZ?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 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-msai.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dzz-vs-msai/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DZZ correlations · MSAI correlations
