CTAS vs DIA: Correlation
How closely do Cintas (CTAS) and SPDR Dow Jones Industrial Average ETF (DIA) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and DIA?
On 3 years of weekly data the CTAS/DIA correlation comes out at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.52). The 5-year figure is 0.65, and annualized covariance runs at 155.7 %².
Among the 38 assets we track against CTAS, DIA ranks #6 by 3-year correlation. The last year tells two different stories: DIA led by 22.5 percentage points, -3.3% for CTAS against +19.2% for DIA. The rolling one-year correlation moved between 0.31 and 0.78 over the past three years, a moderate range. One caveat on sizing: CTAS is 1.8 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.
CTAS vs DIA: side by side
| CTAS (Cintas) | DIA (SPDR Dow Jones Industrial Average ETF) | |
|---|---|---|
| 1-year return | -3.3% | +19.2% |
| 5-year return | +117.4% | +64.8% |
| Volatility (ann.) | 23.2% | 13.0% |
| Beta vs S&P 500 | 0.71 | 0.79 |
| Max drawdown (3Y) | -27.7% | -16.0% |
| Market cap | $81.7B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.87% | 1.37% |
| Expense ratio | – | 0.16% |
| Assets under management | – | $45.2B |
| Sector / category | Industrials | 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 | CTAS | DIA |
|---|---|---|
| 2022 | +3.0% | -7.0% |
| 2023 | +34.8% | +16.0% |
| 2024 | +22.2% | +14.8% |
| 2025 | +3.8% | +14.7% |
| 2026 | +9.4% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTAS and DIA good diversifiers for each other?
To a limited degree. At 0.52 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 CTAS and DIA?
As of 2026-08-27, the correlation of weekly returns between CTAS and DIA is 0.52 over 3 years, 0.33 over 1 year and 0.65 over 5 years.
Is DIA a good diversifier for CTAS?
To a limited degree. At 0.52 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 0.52 mean?
A reading of 0.52 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/ctas-vs-dia.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctas-vs-dia/)
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Related comparisons
Hubs: CTAS correlations · DIA correlations
