DGRO vs LIN: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Linde plc (LIN) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and LIN?
Across a 3-year window, the weekly returns of DGRO and LIN correlate at 0.51, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.51 over 3 years. Stretching to 5 years gives 0.60, with an annualized covariance of 96.4 %².
By 3-year correlation, LIN places #99 of the 138 assets tracked against DGRO. The last year tells two different stories: DGRO led by 19.1 percentage points, +21.0% for DGRO against +1.9% for LIN. The rolling one-year correlation moved between 0.29 and 0.76 over the past three years, a moderate range.
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 LIN: side by side
| DGRO (iShares Core Dividend Growth ETF) | LIN (Linde plc) | |
|---|---|---|
| 1-year return | +21.0% | +1.9% |
| 5-year return | +67.9% | +64.6% |
| Volatility (ann.) | 11.4% | 16.5% |
| Beta vs S&P 500 | 0.65 | 0.37 |
| Max drawdown (3Y) | -14.0% | -19.2% |
| Market cap | – | $223.7B |
| P/E (trailing) | – | 31.6 |
| Dividend yield | 1.89% | 1.26% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Materials |
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 | LIN |
|---|---|---|
| 2022 | -7.9% | -4.4% |
| 2023 | +10.5% | +27.7% |
| 2024 | +16.6% | +3.2% |
| 2025 | +15.7% | +3.2% |
| 2026 | +15.2% | +14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that DGRO holds LIN at a 0.61% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are DGRO and LIN good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DGRO and LIN?
As of 2026-08-27, the correlation of weekly returns between DGRO and LIN is 0.51 over 3 years, 0.28 over 1 year and 0.60 over 5 years.
Is LIN a good diversifier for DGRO?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
A reading of 0.51 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-lin.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-lin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · LIN correlations
