DAKT vs EWJ: Correlation
Daktronics, Inc. (DAKT) and iShares MSCI Japan ETF (EWJ) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAKT and EWJ?
On 3 years of weekly data the DAKT/EWJ correlation comes out at 0.40, moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.40). The 5-year figure is 0.35, and annualized covariance runs at 408.3 %².
Within DAKT's tracked universe of 11 assets, EWJ comes in at #5 by 3-year correlation. The trailing year gives EWJ the advantage: +13.5% versus +27.1%, a 13.6-point spread. One caveat on sizing: DAKT is 2.6 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.
DAKT vs EWJ: side by side
| DAKT (Daktronics, Inc.) | EWJ (iShares MSCI Japan ETF) | |
|---|---|---|
| 1-year return | +13.5% | +27.1% |
| 5-year return | +222.0% | +58.6% |
| Volatility (ann.) | 51.5% | 19.6% |
| Beta vs S&P 500 | 1.28 | 0.94 |
| Max drawdown (3Y) | -42.0% | -14.7% |
| Market cap | $0.9B | – |
| P/E (trailing) | 21.1 | – |
| Dividend yield | 0.00% | 3.86% |
| Expense ratio | – | 0.49% |
| Assets under management | – | $21.8B |
| Sector / category | US Listed | ETF · International |
EWJ, iShares's Japan Stock fund, carries $21.8B under management, 168 holdings, a 0.49% expense ratio, a 3.86% trailing dividend yield.
Year-by-year returns
| Year | DAKT | EWJ |
|---|---|---|
| 2022 | -44.2% | -17.7% |
| 2023 | +200.7% | +20.3% |
| 2024 | +98.8% | +7.0% |
| 2025 | +17.3% | +25.8% |
| 2026 | -0.8% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAKT and EWJ good diversifiers for each other?
Reasonably. At 0.40, DAKT and EWJ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DAKT and EWJ?
As of 2026-08-27, the correlation of weekly returns between DAKT and EWJ is 0.40 over 3 years, 0.52 over 1 year and 0.35 over 5 years.
Is EWJ a good diversifier for DAKT?
Reasonably. At 0.40, DAKT and EWJ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dakt-vs-ewj.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dakt-vs-ewj/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DAKT correlations · EWJ correlations
