The depth of depression (5)
I believe the answer is:
nadir
'the depth' is the definition.
(thesaurus)
I don't understand the remainder of the clue.
Can you help me to learn more?
(Other definitions for nadir that I've seen before include "Rock bottom" , "Given lowest place" , "Lowest point, or time of deepest depression." , "Drain into the lowest point (5)" , "most unsuccessful point" .)