DZZ vs PSA: Correlation
DB Gold Double Short ETN due February 15, 2038 (DZZ) and Public Storage (PSA) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and PSA?
Across a 3-year window, the weekly returns of DZZ and PSA correlate at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Stretching to 5 years gives -0.20, with an annualized covariance of -440.8 %².
Within DZZ's tracked universe of 73 assets, PSA comes in at #25 by 3-year correlation. The last year tells two different stories: PSA led by 19.9 percentage points, -8.6% for DZZ against +11.3% for PSA. Note the risk asymmetry: DZZ runs 3.9 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 PSA: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | PSA (Public Storage) | |
|---|---|---|
| 1-year return | -8.6% | +11.3% |
| 5-year return | -40.0% | +20.9% |
| Volatility (ann.) | 89.0% | 23.0% |
| Beta vs S&P 500 | 0.36 | 0.59 |
| Max drawdown (3Y) | -83.1% | -25.6% |
| Market cap | – | $58.1B |
| P/E (trailing) | – | 30.3 |
| Dividend yield | 0.00% | 3.78% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | DZZ | PSA |
|---|---|---|
| 2022 | +3.0% | -20.2% |
| 2023 | -8.3% | +13.6% |
| 2024 | -35.0% | +2.1% |
| 2025 | +132.7% | -9.7% |
| 2026 | -57.2% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and PSA good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between DZZ and PSA?
As of 2026-08-27, the correlation of weekly returns between DZZ and PSA is -0.22 over 3 years, -0.31 over 1 year and -0.20 over 5 years.
Is PSA a good diversifier for DZZ?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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-psa.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dzz-vs-psa/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DZZ correlations · PSA correlations
