CAE vs DIA: Correlation
CAE Inc (CAE) and SPDR Dow Jones Industrial Average ETF (DIA) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAE and DIA?
On 3 years of weekly data the CAE/DIA correlation comes out at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 176.3 %².
Few assets follow CAE as closely as DIA, which ranks #3 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months DIA outperformed by 27.0 percentage points (-7.8% for CAE against +19.2% for DIA). Risk is not evenly split, since CAE carries 2.3 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.
CAE vs DIA: side by side
| CAE (CAE Inc) | DIA (SPDR Dow Jones Industrial Average ETF) | |
|---|---|---|
| 1-year return | -7.8% | +19.2% |
| 5-year return | -12.4% | +64.8% |
| Volatility (ann.) | 29.6% | 13.0% |
| Beta vs S&P 500 | 0.91 | 0.79 |
| Max drawdown (3Y) | -34.6% | -16.0% |
| Market cap | $8.0B | – |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.00% | 1.37% |
| Expense ratio | – | 0.16% |
| Assets under management | – | $45.2B |
| Sector / category | US Listed | 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 | CAE | DIA |
|---|---|---|
| 2022 | -23.4% | -7.0% |
| 2023 | +11.6% | +16.0% |
| 2024 | +17.6% | +14.8% |
| 2025 | +19.9% | +14.7% |
| 2026 | -18.1% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAE and DIA good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CAE and DIA?
As of 2026-08-27, the correlation of weekly returns between CAE and DIA is 0.46 over 3 years, 0.45 over 1 year and 0.54 over 5 years.
Is DIA a good diversifier for CAE?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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/cae-vs-dia.json
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Related comparisons
Hubs: CAE correlations · DIA correlations
