DGRO vs IR: Correlation
How closely do iShares Core Dividend Growth ETF (DGRO) and Ingersoll Rand (IR) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and IR?
On 3 years of weekly data the DGRO/IR correlation comes out at 0.68, strong. The link has loosened recently: the 1-year correlation (0.58) runs below the 3-year figure (0.68). The 5-year figure is 0.66, and annualized covariance runs at 232.2 %².
By 3-year correlation, IR places #38 of the 138 assets tracked against DGRO. The last year tells two different stories: DGRO led by 23.0 percentage points, +21.0% for DGRO against -2.0% for IR. The rolling one-year correlation moved between 0.53 and 0.81 over the past three years, a moderate range. Note the risk asymmetry: IR runs 2.6 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 IR: side by side
| DGRO (iShares Core Dividend Growth ETF) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +21.0% | -2.0% |
| 5-year return | +67.9% | +49.2% |
| Volatility (ann.) | 11.4% | 29.8% |
| Beta vs S&P 500 | 0.65 | 1.17 |
| Max drawdown (3Y) | -14.0% | -36.6% |
| Market cap | – | $30.6B |
| P/E (trailing) | – | 32.6 |
| Dividend yield | 1.89% | 0.15% |
| 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 | IR |
|---|---|---|
| 2022 | -7.9% | -15.4% |
| 2023 | +10.5% | +48.2% |
| 2024 | +16.6% | +17.1% |
| 2025 | +15.7% | -12.3% |
| 2026 | +15.2% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and IR good diversifiers for each other?
Only partially. A correlation of 0.68 means DGRO and IR 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 IR?
As of 2026-08-27, the correlation of weekly returns between DGRO and IR is 0.68 over 3 years, 0.58 over 1 year and 0.66 over 5 years.
Is IR a good diversifier for DGRO?
Only partially. A correlation of 0.68 means DGRO and IR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgro-vs-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGRO correlations · IR correlations
