BNY vs DGRO: Correlation
BNY Mellon (BNY) and iShares Core Dividend Growth ETF (DGRO) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNY and DGRO?
Across a 3-year window, the weekly returns of BNY and DGRO correlate at 0.72, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.72 over 3. Stretching to 5 years gives 0.71, with an annualized covariance of 165.9 %².
Among the 31 assets we track against BNY, DGRO ranks #5 by 3-year correlation. The last year tells two different stories: BNY led by 36.2 percentage points, +57.2% for BNY against +21.0% for DGRO. Across three years, the rolling one-year figure varied moderately, from 0.55 to 0.83. Note the risk asymmetry: BNY runs 1.8 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.
BNY vs DGRO: side by side
| BNY (BNY Mellon) | DGRO (iShares Core Dividend Growth ETF) | |
|---|---|---|
| 1-year return | +57.2% | +21.0% |
| 5-year return | +236.7% | +67.9% |
| Volatility (ann.) | 20.2% | 11.4% |
| Beta vs S&P 500 | 0.89 | 0.65 |
| Max drawdown (3Y) | -17.6% | -14.0% |
| Market cap | $110.1B | – |
| P/E (trailing) | 19.0 | – |
| Dividend yield | 1.30% | 1.89% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $42.8B |
| Sector / category | Financials | 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 | BNY | DGRO |
|---|---|---|
| 2022 | -19.1% | -7.9% |
| 2023 | +18.5% | +10.5% |
| 2024 | +51.9% | +16.6% |
| 2025 | +54.4% | +15.7% |
| 2026 | +41.5% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.34% of DGRO is BNY itself, so the fund partly moves with the stock by construction.
Are BNY and DGRO good diversifiers for each other?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BNY and DGRO?
The BNY/DGRO correlation stands at 0.72 on a 3-year window (1 year: 0.63, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is DGRO a good diversifier for BNY?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.72 mean?
A reading of 0.72 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/bny-vs-dgro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bny-vs-dgro/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BNY correlations · DGRO correlations
