DZZ vs QQQ: Correlation
Measured on weekly returns over the past three years, DB Gold Double Short ETN due February 15, 2038 (DZZ) and Invesco QQQ Trust (QQQ) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and QQQ?
Over the past 3 years, DZZ and QQQ moved with a correlation of 0.04, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.06 lands near the 3-year figure. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is 73.4 %².
Among the 73 assets we track against DZZ, QQQ ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 34.9 percentage points (-8.6% for DZZ against +26.3% for QQQ). One caveat on sizing: DZZ is 4.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 QQQ: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -8.6% | +26.3% |
| 5-year return | -40.0% | +95.4% |
| Volatility (ann.) | 89.0% | 19.6% |
| Beta vs S&P 500 | 0.36 | 1.28 |
| Max drawdown (3Y) | -83.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | DZZ | QQQ |
|---|---|---|
| 2022 | +3.0% | -32.6% |
| 2023 | -8.3% | +54.9% |
| 2024 | -35.0% | +25.6% |
| 2025 | +132.7% | +20.8% |
| 2026 | -57.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and QQQ good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DZZ and QQQ?
The DZZ/QQQ correlation stands at 0.04 on a 3-year window (1 year: 0.06, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for DZZ?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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
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Related comparisons
Hubs: DZZ correlations · QQQ correlations
