DE vs DGRO: Correlation
How closely do Deere & Company (DE) and iShares Core Dividend Growth ETF (DGRO) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DE and DGRO?
Across a 3-year window, the weekly returns of DE and DGRO correlate at 0.56, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.37 versus 0.56 over 3 years. Stretching to 5 years gives 0.56, with an annualized covariance of 169.3 %².
Among the 33 assets we track against DE, DGRO ranks #7 by 3-year correlation. The trailing year gives DE the advantage: +27.9% versus +21.0%, a 6.9-point spread. Across three years, the rolling one-year figure varied moderately, from 0.37 to 0.68. Note the risk asymmetry: DE runs 2.3 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.
DE vs DGRO: side by side
| DE (Deere & Company) | DGRO (iShares Core Dividend Growth ETF) | |
|---|---|---|
| 1-year return | +27.9% | +21.0% |
| 5-year return | +74.5% | +67.9% |
| Volatility (ann.) | 26.7% | 11.4% |
| Beta vs S&P 500 | 0.65 | 0.65 |
| Max drawdown (3Y) | -19.9% | -14.0% |
| Market cap | $168.1B | – |
| P/E (trailing) | 35.2 | – |
| Dividend yield | 1.02% | 1.89% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $42.8B |
| Sector / category | Industrials | 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 | DE | DGRO |
|---|---|---|
| 2022 | +26.6% | -7.9% |
| 2023 | -5.5% | +10.5% |
| 2024 | +7.6% | +16.6% |
| 2025 | +11.4% | +15.7% |
| 2026 | +34.5% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
DE represents 0.38% of DGRO's portfolio, so part of any move in DGRO is DE itself, and the correlation between them is partly mechanical.
Are DE and DGRO good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DE and DGRO?
As of 2026-08-27, the correlation of weekly returns between DE and DGRO is 0.56 over 3 years, 0.37 over 1 year and 0.56 over 5 years.
Is DGRO a good diversifier for DE?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/de-vs-dgro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/de-vs-dgro/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DE correlations · DGRO correlations
