DZZ vs SMCI: Correlation
How closely do DB Gold Double Short ETN due February 15, 2038 (DZZ) and Supermicro (SMCI) trade together? Their weekly returns over three years give a correlation of -0.14, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and SMCI?
On 3 years of weekly data the DZZ/SMCI correlation comes out at -0.14, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.15 over 1 year against -0.14 over 3. The 5-year figure is -0.13, and annualized covariance runs at -1343.2 %².
By 3-year correlation, SMCI places #11 of the 73 assets tracked against DZZ. Over the last 12 months DZZ came out ahead by 5.5 percentage points (-8.6% against -14.1%).
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 SMCI: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | SMCI (Supermicro) | |
|---|---|---|
| 1-year return | -8.6% | -14.1% |
| 5-year return | -40.0% | +983.4% |
| Volatility (ann.) | 89.0% | 107.1% |
| Beta vs S&P 500 | 0.36 | 3.08 |
| Max drawdown (3Y) | -83.1% | -84.8% |
| Market cap | – | $24.9B |
| P/E (trailing) | – | 11.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | DZZ | SMCI |
|---|---|---|
| 2022 | +3.0% | +86.8% |
| 2023 | -8.3% | +246.2% |
| 2024 | -35.0% | +7.2% |
| 2025 | +132.7% | -4.0% |
| 2026 | -57.2% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and SMCI good diversifiers for each other?
By historical standards, yes. A correlation of -0.14 means the two rarely move for the same reasons.
FAQ
What is the correlation between DZZ and SMCI?
As of 2026-08-27, the correlation of weekly returns between DZZ and SMCI is -0.14 over 3 years, -0.15 over 1 year and -0.13 over 5 years.
Is SMCI a good diversifier for DZZ?
By historical standards, yes. A correlation of -0.14 means the two rarely move for the same reasons.
What does a correlation of -0.14 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dzz-vs-smci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dzz-vs-smci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DZZ correlations · SMCI correlations
