CNXN vs DGRO: Correlation
PC Connection, Inc. (CNXN) and iShares Core Dividend Growth ETF (DGRO) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNXN and DGRO?
Across a 3-year window, the weekly returns of CNXN and DGRO correlate at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 175.5 %².
In CNXN's tracked universe of 12 assets, DGRO sits right near the top at #3. Over the last 12 months CNXN came out ahead by 5.2 percentage points (+26.2% against +21.0%). Note the risk asymmetry: CNXN runs 2.4 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.
CNXN vs DGRO: side by side
| CNXN (PC Connection, Inc.) | DGRO (iShares Core Dividend Growth ETF) | |
|---|---|---|
| 1-year return | +26.2% | +21.0% |
| 5-year return | +75.2% | +67.9% |
| Volatility (ann.) | 27.3% | 11.4% |
| Beta vs S&P 500 | 0.86 | 0.65 |
| Max drawdown (3Y) | -26.3% | -14.0% |
| Market cap | $2.0B | – |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 0.88% | 1.89% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $42.8B |
| Sector / category | US Listed | 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 | CNXN | DGRO |
|---|---|---|
| 2022 | +9.4% | -7.9% |
| 2023 | +44.3% | +10.5% |
| 2024 | +3.7% | +16.6% |
| 2025 | -15.8% | +15.7% |
| 2026 | +40.7% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNXN and DGRO good diversifiers for each other?
To a limited degree. At 0.56 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 CNXN and DGRO?
As of 2026-08-27, the correlation of weekly returns between CNXN and DGRO is 0.56 over 3 years, 0.54 over 1 year and 0.45 over 5 years.
Is DGRO a good diversifier for CNXN?
To a limited degree. At 0.56 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 0.56 mean?
A reading of 0.56 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/cnxn-vs-dgro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnxn-vs-dgro/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNXN correlations · DGRO correlations
