BEN vs DIA: Correlation
Franklin Resources (BEN) and SPDR Dow Jones Industrial Average ETF (DIA) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEN and DIA?
Across a 3-year window, the weekly returns of BEN and DIA correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 217.5 %².
Within BEN's tracked universe of 28 assets, DIA comes in at #9 by 3-year correlation. The last year tells two different stories: BEN led by 23.8 percentage points, +43.0% for BEN against +19.2% for DIA. Across three years, the rolling one-year figure varied moderately, from 0.49 to 0.76. Note the risk asymmetry: BEN runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BEN vs DIA: side by side
| BEN (Franklin Resources) | DIA (SPDR Dow Jones Industrial Average ETF) | |
|---|---|---|
| 1-year return | +43.0% | +19.2% |
| 5-year return | +37.6% | +64.8% |
| Volatility (ann.) | 27.9% | 13.0% |
| Beta vs S&P 500 | 1.01 | 0.79 |
| Max drawdown (3Y) | -40.0% | -16.0% |
| Market cap | $17.7B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 3.74% | 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 | BEN | DIA |
|---|---|---|
| 2022 | -17.5% | -7.0% |
| 2023 | +17.0% | +16.0% |
| 2024 | -27.2% | +14.8% |
| 2025 | +24.8% | +14.7% |
| 2026 | +49.4% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEN and DIA good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BEN and DIA?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.60 over the last year and 0.66 over 5 years.
Is DIA a good diversifier for BEN?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 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/ben-vs-dia.json
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[](https://www.pairbook.io/pair/ben-vs-dia/)
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Related comparisons
Hubs: BEN correlations · DIA correlations
