BLK vs DIA: Correlation
BlackRock (BLK) and SPDR Dow Jones Industrial Average ETF (DIA) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLK and DIA?
On 3 years of weekly data the BLK/DIA correlation comes out at 0.68, strong. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.68). The 5-year figure is 0.76, and annualized covariance runs at 219.9 %².
Among the 42 assets we track against BLK, DIA ranks #14 by 3-year correlation. The trailing year gives DIA the advantage: +5.3% versus +19.2%, a 13.9-point spread. Across three years, the rolling one-year figure varied moderately, from 0.41 to 0.83. One caveat on sizing: BLK is 1.9 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.
BLK vs DIA: side by side
| BLK (BlackRock) | DIA (SPDR Dow Jones Industrial Average ETF) | |
|---|---|---|
| 1-year return | +5.3% | +19.2% |
| 5-year return | +38.9% | +64.8% |
| Volatility (ann.) | 24.7% | 13.0% |
| Beta vs S&P 500 | 1.19 | 0.79 |
| Max drawdown (3Y) | -23.7% | -16.0% |
| Market cap | $189.7B | – |
| P/E (trailing) | 28.1 | – |
| Dividend yield | 1.86% | 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 | BLK | DIA |
|---|---|---|
| 2022 | -20.4% | -7.0% |
| 2023 | +17.9% | +16.0% |
| 2024 | +29.3% | +14.8% |
| 2025 | +6.6% | +14.7% |
| 2026 | +10.3% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLK and DIA good diversifiers for each other?
Only partially. A correlation of 0.68 means BLK 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 BLK and DIA?
The BLK/DIA correlation stands at 0.68 on a 3-year window (1 year: 0.39, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is DIA a good diversifier for BLK?
Only partially. A correlation of 0.68 means BLK 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 0.68 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/blk-vs-dia.json
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Related comparisons
Hubs: BLK correlations · DIA correlations
