DGRO vs EARN: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Ellington Credit Company (EARN) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and EARN?
Over the past 3 years, DGRO and EARN moved with a correlation of 0.65, which is strong. The link has loosened recently: the 1-year correlation (0.47) runs below the 3-year figure (0.65). Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 184.7 %².
By 3-year correlation, EARN places #46 of the 138 assets tracked against DGRO. Their recent paths diverged sharply: over the last 12 months DGRO outperformed by 28.9 percentage points (+21.0% for DGRO against -7.9% for EARN). Note the risk asymmetry: EARN runs 2.2 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.
DGRO vs EARN: side by side
| DGRO (iShares Core Dividend Growth ETF) | EARN (Ellington Credit Company) | |
|---|---|---|
| 1-year return | +21.0% | -7.9% |
| 5-year return | +67.9% | -17.5% |
| Volatility (ann.) | 11.4% | 24.8% |
| Beta vs S&P 500 | 0.65 | 0.92 |
| Max drawdown (3Y) | -14.0% | -31.2% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 15.9 |
| Dividend yield | 1.89% | 21.57% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | US Listed |
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 | DGRO | EARN |
|---|---|---|
| 2022 | -7.9% | -25.0% |
| 2023 | +10.5% | +3.0% |
| 2024 | +16.6% | +24.6% |
| 2025 | +15.7% | -5.9% |
| 2026 | +15.2% | -5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and EARN good diversifiers for each other?
To a limited degree. At 0.65 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 DGRO and EARN?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.47 over the last year and 0.67 over 5 years.
Is EARN a good diversifier for DGRO?
To a limited degree. At 0.65 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 0.65 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/dgro-vs-earn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgro-vs-earn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · EARN correlations
