DGP vs. COKE

Last updated Jun 9, 2026

DGP (DB Gold Double Long Exchange Traded Notes) is Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%), while COKE (Coca-Cola Consolidated, Inc.) is a stock. Over the past 10 years, DGP returned 19.21%/yr vs 31.72%/yr for COKE. At a 0.02 correlation, their price movements are largely independent.

Performance

DGP vs. COKE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DB Gold Double Long Exchange Traded Notes (DGP) and Coca-Cola Consolidated, Inc. (COKE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGP achieves a -4.85% return, which is significantly lower than COKE's 16.99% return. Over the past 10 years, DGP has underperformed COKE with an annualized return of 19.21%, while COKE has yielded a comparatively higher 31.72% annualized return.

DGP

• 1D: 0.46%
• 1M: -16.73%
• YTD: -4.85%
• 6M: 0.37%
• 1Y: 52.74%
• 3Y*: 53.91%
• 5Y*: 29.00%
• 10Y*: 19.21%

COKE

• 1D: -0.61%
• 1M: 2.58%
• YTD: 16.99%
• 6M: 9.02%
• 1Y: 65.74%
• 3Y*: 40.58%
• 5Y*: 33.34%
• 10Y*: 31.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DGP vs. COKE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGP DB Gold Double Long Exchange Traded Notes	-4.85%	141.40%	53.16%	16.97%	-5.54%	-11.29%	45.29%	32.27%	-7.48%	24.20%
COKE Coca-Cola Consolidated, Inc.	16.99%	22.63%	38.75%	82.92%	-17.09%	133.24%	-5.87%	60.74%	-17.10%	20.94%

Correlation

The correlation between DGP and COKE is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008	0.02

Return for Risk

DGP vs. COKE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DGP

DGP Risk / Return Rank: 31
DGP Sharpe Ratio Rank: 30
DGP Sortino Ratio Rank: 31
DGP Omega Ratio Rank: 36
DGP Calmar Ratio Rank: 32
DGP Martin Ratio Rank: 28

COKE

COKE Risk / Return Rank: 84
COKE Sharpe Ratio Rank: 88
COKE Sortino Ratio Rank: 81
COKE Omega Ratio Rank: 84
COKE Calmar Ratio Rank: 81
COKE Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DGP vs. COKE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DB Gold Double Long Exchange Traded Notes (DGP) and Coca-Cola Consolidated, Inc. (COKE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DGP	COKE	Difference
Sharpe ratio: Return per unit of total volatility	1.00	1.91	-0.91
Sortino ratio: Return per unit of downside risk	1.50	2.28	-0.78
Omega ratio: Gain probability vs. loss probability	1.22	1.34	-0.12
Calmar ratio: Return relative to maximum drawdown	1.43	2.69	-1.26
Martin ratio: Return relative to average drawdown	3.59	8.04	-4.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGP vs. COKE - Sharpe Ratio Comparison

The current DGP Sharpe Ratio is 1.00, which is lower than the COKE Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of DGP and COKE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DGP	COKE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	1.91	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.89	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.86	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.45	-0.18

Drawdowns

DGP vs. COKE - Drawdown Comparison

The maximum DGP drawdown since its inception was -75.31%, which is greater than COKE's maximum drawdown of -54.32%. Use the drawdown chart below to compare losses from any high point for DGP and COKE.

Drawdown Indicators

	DGP	COKE	Difference
Max Drawdown Largest peak-to-trough decline	-75.31%	-54.32%	-20.99%
Max Drawdown (1Y) Largest decline over 1 year	-36.98%	-24.56%	-12.42%
Max Drawdown (3Y) Largest decline over 3 years	-36.98%	-27.38%	-9.60%
Max Drawdown (5Y) Largest decline over 5 years	-51.24%	-35.52%	-15.72%
Max Drawdown (10Y) Largest decline over 10 years	-51.24%	-51.71%	+0.47%
Current Drawdown Current decline from peak	-36.69%	-17.46%	-19.23%
Average Drawdown Average peak-to-trough decline	-41.09%	-18.88%	-22.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.75%	8.20%	+6.55%

Volatility

DGP vs. COKE - Volatility Comparison

DB Gold Double Long Exchange Traded Notes (DGP) and Coca-Cola Consolidated, Inc. (COKE) have volatilities of 10.97% and 10.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGP	COKE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.97%	10.58%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	46.99%	29.55%	+17.44%
Volatility (1Y) Calculated over the trailing 1-year period	53.01%	34.65%	+18.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.91%	37.49%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.11%	37.17%	-2.06%

Dividends

DGP vs. COKE - Dividend Comparison

DGP has not paid dividends to shareholders, while COKE's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COKE Coca-Cola Consolidated, Inc.	0.56%	0.65%	1.59%	0.54%	0.20%	0.16%	0.38%	0.35%	0.56%	0.46%	0.56%	0.55%
DGP DB Gold Double Long Exchange Traded Notes	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGP and COKE in my portfolio?

DGP and COKE have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGP or COKE?

DGP has higher volatility (10.97%) compared to COKE (10.58%). In terms of maximum drawdown, DGP dropped -75.31% vs COKE's -54.32%.

Which has better risk-adjusted returns?

COKE currently has the higher Sharpe Ratio (1.91 vs 1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.