DZZ vs OGG: Correlation
DB Gold Double Short ETN due February 15, 2038 (DZZ) and Osisko Gold Group Inc. (OGG) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and OGG?
Over the past 3 years, DZZ and OGG moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -1376.4 %².
Among the 73 assets we track against DZZ, OGG ranks #34 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OGG outperformed by 21.8 percentage points (-8.6% for DZZ against +13.2% for OGG).
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 OGG: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | OGG (Osisko Gold Group Inc.) | |
|---|---|---|
| 1-year return | -8.6% | +13.2% |
| 5-year return | -40.0% | -73.6% |
| Volatility (ann.) | 89.0% | 63.4% |
| Beta vs S&P 500 | 0.36 | 1.12 |
| Max drawdown (3Y) | -83.1% | -65.8% |
| Market cap | – | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | OGG |
|---|---|---|
| 2022 | +3.0% | -55.5% |
| 2023 | -8.3% | -32.3% |
| 2024 | -35.0% | -44.0% |
| 2025 | +132.7% | +114.1% |
| 2026 | -57.2% | -9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and OGG good diversifiers for each other?
Yes. With a correlation of -0.24, DZZ and OGG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DZZ and OGG?
As of 2026-08-27, the correlation of weekly returns between DZZ and OGG is -0.24 over 3 years, -0.31 over 1 year and -0.25 over 5 years.
Is OGG a good diversifier for DZZ?
Yes. With a correlation of -0.24, DZZ and OGG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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-ogg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dzz-vs-ogg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DZZ correlations · OGG correlations
