DZZ vs VGZ: Correlation
DB Gold Double Short ETN due February 15, 2038 (DZZ) and Vista Gold Corp (VGZ) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DZZ and VGZ?
Across a 3-year window, the weekly returns of DZZ and VGZ correlate at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Stretching to 5 years gives -0.30, with an annualized covariance of -1993.7 %².
Among the 73 assets we track against DZZ, VGZ ranks #56 by 3-year correlation. The last year tells two different stories: VGZ led by 112.9 percentage points, -8.6% for DZZ against +104.3% for VGZ.
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 VGZ: side by side
| DZZ (DB Gold Double Short ETN due February 15, 2038) | VGZ (Vista Gold Corp) | |
|---|---|---|
| 1-year return | -8.6% | +104.3% |
| 5-year return | -40.0% | +197.5% |
| Volatility (ann.) | 89.0% | 77.0% |
| Beta vs S&P 500 | 0.36 | 1.31 |
| Max drawdown (3Y) | -83.1% | -49.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DZZ | VGZ |
|---|---|---|
| 2022 | +3.0% | -29.6% |
| 2023 | -8.3% | -10.0% |
| 2024 | -35.0% | +24.4% |
| 2025 | +132.7% | +251.8% |
| 2026 | -57.2% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DZZ and VGZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between DZZ and VGZ?
As of 2026-08-27, the correlation of weekly returns between DZZ and VGZ is -0.29 over 3 years, -0.34 over 1 year and -0.30 over 5 years.
Is VGZ a good diversifier for DZZ?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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
$ curl https://www.pairbook.io/api/v1/pairs/dzz-vs-vgz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dzz-vs-vgz/)
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Related comparisons
Hubs: DZZ correlations · VGZ correlations
