DZZ vs SVM: Correlation
Measured on weekly returns over the past three years, DB Gold Double Short ETN due February 15, 2038 (DZZ) and Silvercorp Metals Inc. (SVM) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and SVM?
On 3 years of weekly data the DZZ/SVM correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.23 over 3. The 5-year figure is -0.26, and annualized covariance runs at -1204.8 %².
By 3-year correlation, SVM places #28 of the 73 assets tracked against DZZ. Correlation aside, the last 12 months split them widely, with SVM ahead by 196.5 points (-8.6% versus +187.9%). Risk is not evenly split, since DZZ carries 1.5 times the volatility of the other side.
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 SVM: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | SVM (Silvercorp Metals Inc.) | |
|---|---|---|
| 1-year return | -8.6% | +187.9% |
| 5-year return | -40.0% | +222.0% |
| Volatility (ann.) | 89.0% | 59.2% |
| Beta vs S&P 500 | 0.36 | 1.33 |
| Max drawdown (3Y) | -83.1% | -43.8% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 122.4 |
| Dividend yield | 0.00% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | SVM |
|---|---|---|
| 2022 | +3.0% | -20.6% |
| 2023 | -8.3% | -10.3% |
| 2024 | -35.0% | +14.9% |
| 2025 | +132.7% | +178.8% |
| 2026 | -57.2% | +61.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and SVM good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between DZZ and SVM?
As of 2026-08-27, the correlation of weekly returns between DZZ and SVM is -0.23 over 3 years, -0.24 over 1 year and -0.26 over 5 years.
Is SVM a good diversifier for DZZ?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DZZ correlations · SVM correlations
