DGRO vs HII: Correlation
iShares Core Dividend Growth ETF (DGRO) and Huntington Ingalls Industries (HII) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and HII?
On 3 years of weekly data the DGRO/HII correlation comes out at 0.43, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.43). The 5-year figure is 0.42, and annualized covariance runs at 171.5 %².
Within DGRO's tracked universe of 138 assets, HII comes in at #119 by 3-year correlation. On 12-month performance DGRO holds a 11.6-point edge, +21.0% against +9.4%. The rolling one-year correlation moved between 0.25 and 0.71 over the past three years, a moderate range. One caveat on sizing: HII is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 HII: side by side
| DGRO (iShares Core Dividend Growth ETF) | HII (Huntington Ingalls Industries) | |
|---|---|---|
| 1-year return | +21.0% | +9.4% |
| 5-year return | +67.9% | +59.2% |
| Volatility (ann.) | 11.4% | 35.3% |
| Beta vs S&P 500 | 0.65 | 0.84 |
| Max drawdown (3Y) | -14.0% | -45.2% |
| Market cap | – | $11.7B |
| P/E (trailing) | – | 17.7 |
| Dividend yield | 1.89% | 1.85% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Industrials |
DGRO, iShares's Large Value fund, carries $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield.
Year-by-year returns
| Year | DGRO | HII |
|---|---|---|
| 2022 | -7.9% | +26.3% |
| 2023 | +10.5% | +15.2% |
| 2024 | +16.6% | -25.7% |
| 2025 | +15.7% | +84.2% |
| 2026 | +15.2% | -11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
HII represents 0.05% of DGRO's portfolio, so part of any move in DGRO is HII itself, and the correlation between them is partly mechanical.
Are DGRO and HII good diversifiers for each other?
Reasonably. At 0.43, DGRO and HII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DGRO and HII?
The DGRO/HII correlation stands at 0.43 on a 3-year window (1 year: 0.29, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is HII a good diversifier for DGRO?
Reasonably. At 0.43, DGRO and HII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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-hii.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgro-vs-hii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · HII correlations
