DGRO vs STE: Correlation
iShares Core Dividend Growth ETF (DGRO) and Steris (STE) 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 STE?
Over the past 3 years, DGRO and STE moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.41 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 105.0 %².
By 3-year correlation, STE places #125 of the 138 assets tracked against DGRO. Correlation aside, the last 12 months split them widely, with DGRO ahead by 26.7 points (+21.0% versus -5.7%). The rolling one-year correlation moved between 0.25 and 0.66 over the past three years, a moderate range. Note the risk asymmetry: STE 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 STE: side by side
| DGRO (iShares Core Dividend Growth ETF) | STE (Steris) | |
|---|---|---|
| 1-year return | +21.0% | -5.7% |
| 5-year return | +67.9% | +13.6% |
| Volatility (ann.) | 11.4% | 22.3% |
| Beta vs S&P 500 | 0.65 | 0.43 |
| Max drawdown (3Y) | -14.0% | -25.4% |
| Market cap | – | $22.7B |
| P/E (trailing) | – | 28.5 |
| Dividend yield | 1.89% | 1.06% |
| 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 | STE |
|---|---|---|
| 2022 | -7.9% | -23.4% |
| 2023 | +10.5% | +20.2% |
| 2024 | +16.6% | -5.6% |
| 2025 | +15.7% | +24.3% |
| 2026 | +15.2% | -7.6% |
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 STE at a 0.06% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are DGRO and STE good diversifiers for each other?
Reasonably. At 0.41, DGRO and STE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DGRO and STE?
As of 2026-08-27, the correlation of weekly returns between DGRO and STE is 0.41 over 3 years, 0.31 over 1 year and 0.53 over 5 years.
Is STE a good diversifier for DGRO?
Reasonably. At 0.41, DGRO and STE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 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-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-ste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGRO correlations · STE correlations
