BA vs DIA: Correlation
How closely do Boeing (BA) and SPDR Dow Jones Industrial Average ETF (DIA) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BA and DIA?
Across a 3-year window, the weekly returns of BA and DIA correlate at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 271.9 %².
By 3-year correlation, DIA places #6 of the 37 assets tracked against BA. The last year tells two different stories: DIA led by 30.1 percentage points, -10.9% for BA against +19.2% for DIA. On a rolling one-year basis the correlation drifted between 0.34 and 0.69, a moderate band. One caveat on sizing: BA is 2.8 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.
BA vs DIA: side by side
| BA (Boeing) | DIA (SPDR Dow Jones Industrial Average ETF) | |
|---|---|---|
| 1-year return | -10.9% | +19.2% |
| 5-year return | -3.6% | +64.8% |
| Volatility (ann.) | 36.4% | 13.0% |
| Beta vs S&P 500 | 1.43 | 0.79 |
| Max drawdown (3Y) | -48.3% | -16.0% |
| Market cap | $165.9B | – |
| P/E (trailing) | 76.3 | – |
| Dividend yield | 0.00% | 1.37% |
| Expense ratio | – | 0.16% |
| Assets under management | – | $45.2B |
| Sector / category | Industrials | 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 | BA | DIA |
|---|---|---|
| 2022 | -5.4% | -7.0% |
| 2023 | +36.8% | +16.0% |
| 2024 | -32.1% | +14.8% |
| 2025 | +22.7% | +14.7% |
| 2026 | -3.3% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 2.36% of DIA is BA itself, so the fund partly moves with the stock by construction.
Are BA and DIA good diversifiers for each other?
Only partially. A correlation of 0.57 means BA and DIA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BA and DIA?
As of 2026-08-27, the correlation of weekly returns between BA and DIA is 0.57 over 3 years, 0.53 over 1 year and 0.57 over 5 years.
Is DIA a good diversifier for BA?
Only partially. A correlation of 0.57 means BA and DIA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ba-vs-dia.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ba-vs-dia/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BA correlations · DIA correlations
