DGRO vs GD: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and General Dynamics (GD) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and GD?
Over the past 3 years, DGRO and GD moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 112.4 %².
By 3-year correlation, GD places #114 of the 138 assets tracked against DGRO. Twelve-month performance is nearly a tie, at +21.0% for DGRO and +18.8% for GD. On a rolling one-year basis the correlation drifted between 0.29 and 0.62, a moderate band. Risk is not evenly split, since GD carries 1.9 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 GD: side by side
| DGRO (iShares Core Dividend Growth ETF) | GD (General Dynamics) | |
|---|---|---|
| 1-year return | +21.0% | +18.8% |
| 5-year return | +67.9% | +111.9% |
| Volatility (ann.) | 11.4% | 21.1% |
| Beta vs S&P 500 | 0.65 | 0.52 |
| Max drawdown (3Y) | -14.0% | -22.5% |
| Market cap | – | $102.8B |
| P/E (trailing) | – | 23.3 |
| Dividend yield | 1.89% | 1.62% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Industrials |
On the fund side, DGRO sits in the Large Value category at iShares, with $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield.
Year-by-year returns
| Year | DGRO | GD |
|---|---|---|
| 2022 | -7.9% | +21.7% |
| 2023 | +10.5% | +7.1% |
| 2024 | +16.6% | +3.5% |
| 2025 | +15.7% | +30.4% |
| 2026 | +15.2% | +14.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.36% of DGRO is GD itself, so the fund partly moves with the stock by construction.
Are DGRO and GD good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DGRO and GD?
The DGRO/GD correlation stands at 0.47 on a 3-year window (1 year: 0.40, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is GD a good diversifier for DGRO?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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-gd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgro-vs-gd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGRO correlations · GD correlations
