ALC vs DGRO: Correlation
How closely do Alcon Inc. (ALC) and iShares Core Dividend Growth ETF (DGRO) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALC and DGRO?
Across a 3-year window, the weekly returns of ALC and DGRO correlate at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 161.8 %².
Among the 13 assets we track against ALC, DGRO ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DGRO ahead by 31.8 points (-10.8% versus +21.0%). One caveat on sizing: ALC is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALC vs DGRO: side by side
| ALC (Alcon Inc.) | DGRO (iShares Core Dividend Growth ETF) | |
|---|---|---|
| 1-year return | -10.8% | +21.0% |
| 5-year return | -10.3% | +67.9% |
| Volatility (ann.) | 26.0% | 11.4% |
| Beta vs S&P 500 | 0.77 | 0.65 |
| Max drawdown (3Y) | -37.9% | -14.0% |
| Market cap | $34.9B | – |
| P/E (trailing) | 55.6 | – |
| Dividend yield | 0.49% | 1.89% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $42.8B |
| Sector / category | US Listed | ETF · Dividend |
DGRO is a Large Value fund from iShares: $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield.
Year-by-year returns
| Year | ALC | DGRO |
|---|---|---|
| 2022 | -21.1% | -7.9% |
| 2023 | +14.3% | +10.5% |
| 2024 | +9.0% | +16.6% |
| 2025 | -6.8% | +15.7% |
| 2026 | -7.9% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALC and DGRO good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALC and DGRO?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.59 over the last year and 0.56 over 5 years.
Is DGRO a good diversifier for ALC?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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/alc-vs-dgro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alc-vs-dgro/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALC correlations · DGRO correlations
