DGRO vs MTD: Correlation
iShares Core Dividend Growth ETF (DGRO) and Mettler Toledo (MTD) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and MTD?
Across a 3-year window, the weekly returns of DGRO and MTD correlate at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.58 over 3 years. Stretching to 5 years gives 0.66, with an annualized covariance of 208.2 %².
Among the 138 assets we track against DGRO, MTD ranks #77 by 3-year correlation. The trailing year gives DGRO the advantage: +21.0% versus +9.5%, a 11.5-point spread. On a rolling one-year basis the correlation drifted between 0.46 and 0.77, a moderate band. Note the risk asymmetry: MTD runs 2.8 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 MTD: side by side
| DGRO (iShares Core Dividend Growth ETF) | MTD (Mettler Toledo) | |
|---|---|---|
| 1-year return | +21.0% | +9.5% |
| 5-year return | +67.9% | -11.4% |
| Volatility (ann.) | 11.4% | 31.4% |
| Beta vs S&P 500 | 0.65 | 1.00 |
| Max drawdown (3Y) | -14.0% | -36.6% |
| Market cap | – | $28.2B |
| P/E (trailing) | – | 31.7 |
| Dividend yield | 1.89% | 0.00% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Health Care |
On the fund side, DGRO sits in the Large Value category at iShares, with $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield.
Year-by-year returns
| Year | DGRO | MTD |
|---|---|---|
| 2022 | -7.9% | -14.8% |
| 2023 | +10.5% | -16.1% |
| 2024 | +16.6% | +0.9% |
| 2025 | +15.7% | +13.9% |
| 2026 | +15.2% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and MTD good diversifiers for each other?
To a limited degree. At 0.58 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 MTD?
The DGRO/MTD correlation stands at 0.58 on a 3-year window (1 year: 0.46, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is MTD a good diversifier for DGRO?
To a limited degree. At 0.58 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 0.58 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-mtd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgro-vs-mtd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · MTD correlations
