AXP vs DIA: Correlation
How closely do American Express (AXP) and SPDR Dow Jones Industrial Average ETF (DIA) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXP and DIA?
On 3 years of weekly data the AXP/DIA correlation comes out at 0.75, strong. Lately the two have drifted apart, with the 1-year correlation at 0.60 versus 0.75 over 3 years. The 5-year figure is 0.73, and annualized covariance runs at 259.5 %².
Within AXP's tracked universe of 35 assets, DIA comes in at #4 by 3-year correlation. The trailing year gives DIA the advantage: +4.7% versus +19.2%, a 14.5-point spread. Across three years, the rolling one-year figure varied moderately, from 0.60 to 0.89. One caveat on sizing: AXP is 2.0 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.
AXP vs DIA: side by side
| AXP (American Express) | DIA (SPDR Dow Jones Industrial Average ETF) | |
|---|---|---|
| 1-year return | +4.7% | +19.2% |
| 5-year return | +116.2% | +64.8% |
| Volatility (ann.) | 26.6% | 13.0% |
| Beta vs S&P 500 | 1.20 | 0.79 |
| Max drawdown (3Y) | -28.8% | -16.0% |
| Market cap | $225.7B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 1.05% | 1.37% |
| Expense ratio | – | 0.16% |
| Assets under management | – | $45.2B |
| Sector / category | Financials | ETF · US Large Cap |
DIA is a Large Value fund from State Street Investment Management: $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield.
Year-by-year returns
| Year | AXP | DIA |
|---|---|---|
| 2022 | -8.5% | -7.0% |
| 2023 | +28.7% | +16.0% |
| 2024 | +60.3% | +14.8% |
| 2025 | +26.0% | +14.7% |
| 2026 | -8.9% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
AXP represents 3.73% of DIA's portfolio, so part of any move in DIA is AXP itself, and the correlation between them is partly mechanical.
Are AXP and DIA good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AXP and DIA?
As of 2026-08-27, the correlation of weekly returns between AXP and DIA is 0.75 over 3 years, 0.60 over 1 year and 0.73 over 5 years.
Is DIA a good diversifier for AXP?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 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
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Related comparisons
Hubs: AXP correlations · DIA correlations
