DGRO vs JPM: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and JPMorgan Chase (JPM) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and JPM?
On 3 years of weekly data the DGRO/JPM correlation comes out at 0.70, strong. Lately the two have drifted apart, with the 1-year correlation at 0.52 versus 0.70 over 3 years. The 5-year figure is 0.72, and annualized covariance runs at 186.2 %².
Among the 138 assets we track against DGRO, JPM ranks #35 by 3-year correlation. Twelve-month performance is nearly a tie, at +21.0% for DGRO and +20.6% for JPM. The rolling one-year correlation moved between 0.52 and 0.82 over the past three years, a moderate range. Note the risk asymmetry: JPM runs 2.0 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 JPM: side by side
| DGRO (iShares Core Dividend Growth ETF) | JPM (JPMorgan Chase) | |
|---|---|---|
| 1-year return | +21.0% | +20.6% |
| 5-year return | +67.9% | +150.2% |
| Volatility (ann.) | 11.4% | 23.2% |
| Beta vs S&P 500 | 0.65 | 1.01 |
| Max drawdown (3Y) | -14.0% | -24.4% |
| Market cap | – | $941.6B |
| P/E (trailing) | – | 15.2 |
| Dividend yield | 1.89% | 1.68% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Financials |
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 | JPM |
|---|---|---|
| 2022 | -7.9% | -12.6% |
| 2023 | +10.5% | +30.6% |
| 2024 | +16.6% | +44.3% |
| 2025 | +15.7% | +37.3% |
| 2026 | +15.2% | +11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 3.14% of DGRO is JPM itself, so the fund partly moves with the stock by construction.
Are DGRO and JPM good diversifiers for each other?
Only partially. A correlation of 0.70 means DGRO and JPM 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 JPM?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.52 over the last year and 0.72 over 5 years.
Is JPM a good diversifier for DGRO?
Only partially. A correlation of 0.70 means DGRO and JPM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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-jpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgro-vs-jpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · JPM correlations
