DGRO vs FTV: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Fortive (FTV) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and FTV?
Across a 3-year window, the weekly returns of DGRO and FTV correlate at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.52 versus 0.63 over 3 years. Stretching to 5 years gives 0.68, with an annualized covariance of 172.6 %².
Within DGRO's tracked universe of 138 assets, FTV comes in at #60 by 3-year correlation. Their 12-month results are close: +21.0% for DGRO against +23.9% for FTV. The rolling one-year correlation moved between 0.50 and 0.79 over the past three years, a moderate range. Risk is not evenly split, since FTV carries 2.1 times the volatility of the other side.
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 FTV: side by side
| DGRO (iShares Core Dividend Growth ETF) | FTV (Fortive) | |
|---|---|---|
| 1-year return | +21.0% | +23.9% |
| 5-year return | +67.9% | +9.6% |
| Volatility (ann.) | 11.4% | 23.8% |
| Beta vs S&P 500 | 0.65 | 0.92 |
| Max drawdown (3Y) | -14.0% | -28.0% |
| Market cap | – | $18.1B |
| P/E (trailing) | – | 31.9 |
| Dividend yield | 1.89% | 0.20% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Industrials |
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 | FTV |
|---|---|---|
| 2022 | -7.9% | -15.4% |
| 2023 | +10.5% | +15.1% |
| 2024 | +16.6% | +2.3% |
| 2025 | +15.7% | -1.9% |
| 2026 | +15.2% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and FTV good diversifiers for each other?
Only partially. A correlation of 0.63 means DGRO and FTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DGRO and FTV?
The DGRO/FTV correlation stands at 0.63 on a 3-year window (1 year: 0.52, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is FTV a good diversifier for DGRO?
Only partially. A correlation of 0.63 means DGRO and FTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/dgro-vs-ftv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-ftv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · FTV correlations
