DZZ vs NBTX: Correlation
DB Gold Double Short ETN due February 15, 2038 (DZZ) and Nanobiotix S.A. (NBTX) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and NBTX?
Across a 3-year window, the weekly returns of DZZ and NBTX correlate at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Stretching to 5 years gives -0.10, with an annualized covariance of -1242.4 %².
Among the 73 assets we track against DZZ, NBTX ranks #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NBTX outperformed by 410.9 percentage points (-8.6% for DZZ against +402.3% for NBTX).
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 NBTX: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | NBTX (Nanobiotix S.A.) | |
|---|---|---|
| 1-year return | -8.6% | +402.3% |
| 5-year return | -40.0% | +223.5% |
| Volatility (ann.) | 89.0% | 72.0% |
| Beta vs S&P 500 | 0.36 | 0.72 |
| Max drawdown (3Y) | -83.1% | -73.2% |
| Market cap | – | $2.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | NBTX |
|---|---|---|
| 2022 | +3.0% | -54.7% |
| 2023 | -8.3% | +98.4% |
| 2024 | -35.0% | -60.6% |
| 2025 | +132.7% | +705.6% |
| 2026 | -57.2% | +95.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and NBTX good diversifiers for each other?
Yes. With a correlation of -0.19, DZZ and NBTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DZZ and NBTX?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.27 over the last year and -0.10 over 5 years.
Is NBTX a good diversifier for DZZ?
Yes. With a correlation of -0.19, DZZ and NBTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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-nbtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dzz-vs-nbtx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DZZ correlations · NBTX correlations
