DGRO vs NKE: Correlation
iShares Core Dividend Growth ETF (DGRO) and Nike, Inc. (NKE) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and NKE?
Across a 3-year window, the weekly returns of DGRO and NKE correlate at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 171.0 %².
Among the 138 assets we track against DGRO, NKE ranks #124 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DGRO outperformed by 70.4 percentage points (+21.0% for DGRO against -49.4% for NKE). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.17 to 0.70. Risk is not evenly split, since NKE carries 3.2 times the volatility of the other side.
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 NKE: side by side
| DGRO (iShares Core Dividend Growth ETF) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | +21.0% | -49.4% |
| 5-year return | +67.9% | -75.2% |
| Volatility (ann.) | 11.4% | 36.6% |
| Beta vs S&P 500 | 0.65 | 0.93 |
| Max drawdown (3Y) | -14.0% | -66.9% |
| Market cap | – | $57.0B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 1.89% | 4.22% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Consumer Discretionary |
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 | NKE |
|---|---|---|
| 2022 | -7.9% | -29.0% |
| 2023 | +10.5% | -6.0% |
| 2024 | +16.6% | -29.1% |
| 2025 | +15.7% | -13.8% |
| 2026 | +15.2% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and NKE good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DGRO and NKE?
As of 2026-08-27, the correlation of weekly returns between DGRO and NKE is 0.41 over 3 years, 0.42 over 1 year and 0.51 over 5 years.
Is NKE a good diversifier for DGRO?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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-nke.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgro-vs-nke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGRO correlations · NKE correlations
