DGRO vs LHX: Correlation
How closely do iShares Core Dividend Growth ETF (DGRO) and L3Harris (LHX) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and LHX?
On 3 years of weekly data the DGRO/LHX correlation comes out at 0.48, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.48 over 3. The 5-year figure is 0.49, and annualized covariance runs at 125.3 %².
Within DGRO's tracked universe of 138 assets, LHX comes in at #110 by 3-year correlation. The last year tells two different stories: DGRO led by 24.8 percentage points, +21.0% for DGRO against -3.8% for LHX. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.19 to 0.72. Note the risk asymmetry: LHX 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 LHX: side by side
| DGRO (iShares Core Dividend Growth ETF) | LHX (L3Harris) | |
|---|---|---|
| 1-year return | +21.0% | -3.8% |
| 5-year return | +67.9% | +24.4% |
| Volatility (ann.) | 11.4% | 23.0% |
| Beta vs S&P 500 | 0.65 | 0.51 |
| Max drawdown (3Y) | -14.0% | -30.3% |
| Market cap | – | $48.8B |
| P/E (trailing) | – | 26.6 |
| Dividend yield | 1.89% | 1.09% |
| 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 | LHX |
|---|---|---|
| 2022 | -7.9% | -0.5% |
| 2023 | +10.5% | +3.7% |
| 2024 | +16.6% | +1.9% |
| 2025 | +15.7% | +42.3% |
| 2026 | +15.2% | -10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.17% of DGRO is LHX itself, so the fund partly moves with the stock by construction.
Are DGRO and LHX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DGRO and LHX?
As of 2026-08-27, the correlation of weekly returns between DGRO and LHX is 0.48 over 3 years, 0.39 over 1 year and 0.49 over 5 years.
Is LHX a good diversifier for DGRO?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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-lhx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgro-vs-lhx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · LHX correlations
