BNY vs DIA: Correlation
Measured on weekly returns over the past three years, BNY Mellon (BNY) and SPDR Dow Jones Industrial Average ETF (DIA) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNY and DIA?
Over the past 3 years, BNY and DIA moved with a correlation of 0.71, which is strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 187.1 %².
Within BNY's tracked universe of 31 assets, DIA comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BNY ahead by 38.0 points (+57.2% versus +19.2%). On a rolling one-year basis the correlation drifted between 0.57 and 0.83, a moderate band. Risk is not evenly split, since BNY carries 1.6 times the volatility of the other side.
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 DIA: side by side
| BNY (BNY Mellon) | DIA (SPDR Dow Jones Industrial Average ETF) | |
|---|---|---|
| 1-year return | +57.2% | +19.2% |
| 5-year return | +236.7% | +64.8% |
| Volatility (ann.) | 20.2% | 13.0% |
| Beta vs S&P 500 | 0.89 | 0.79 |
| Max drawdown (3Y) | -17.6% | -16.0% |
| Market cap | $110.1B | – |
| P/E (trailing) | 19.0 | – |
| Dividend yield | 1.30% | 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 | BNY | DIA |
|---|---|---|
| 2022 | -19.1% | -7.0% |
| 2023 | +18.5% | +16.0% |
| 2024 | +51.9% | +14.8% |
| 2025 | +54.4% | +14.7% |
| 2026 | +41.5% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNY and DIA good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BNY and DIA?
The BNY/DIA correlation stands at 0.71 on a 3-year window (1 year: 0.61, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is DIA a good diversifier for BNY?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 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.
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Related comparisons
Hubs: BNY correlations · DIA correlations
