DGRO vs GEHC: Correlation
How closely do iShares Core Dividend Growth ETF (DGRO) and GE HealthCare (GEHC) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and GEHC?
Over the past 3 years, DGRO and GEHC moved with a correlation of 0.62, which is strong. The link has loosened recently: the 1-year correlation (0.51) runs below the 3-year figure (0.62). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 230.7 %².
Within DGRO's tracked universe of 138 assets, GEHC comes in at #63 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DGRO ahead by 23.2 points (+21.0% versus -2.2%). Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.84. Note the risk asymmetry: GEHC runs 2.8 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 GEHC: side by side
| DGRO (iShares Core Dividend Growth ETF) | GEHC (GE HealthCare) | |
|---|---|---|
| 1-year return | +21.0% | -2.2% |
| 5-year return | +67.9% | n/a |
| Volatility (ann.) | 11.4% | 32.4% |
| Beta vs S&P 500 | 0.65 | 1.22 |
| Max drawdown (3Y) | -14.0% | -37.4% |
| Market cap | – | $32.7B |
| P/E (trailing) | – | 16.9 |
| Dividend yield | 1.89% | 0.19% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Health Care |
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 | GEHC |
|---|---|---|
| 2022 | -7.9% | – |
| 2023 | +10.5% | +32.6% |
| 2024 | +16.6% | +1.3% |
| 2025 | +15.7% | +5.1% |
| 2026 | +15.2% | -11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and GEHC good diversifiers for each other?
Only partially. A correlation of 0.62 means DGRO and GEHC 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 GEHC?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.51 over the last year and 0.58 over 5 years.
Is GEHC a good diversifier for DGRO?
Only partially. A correlation of 0.62 means DGRO and GEHC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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-gehc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-gehc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · GEHC correlations
