DGRO vs SWK: Correlation
How closely do iShares Core Dividend Growth ETF (DGRO) and Stanley Black & Decker (SWK) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and SWK?
Across a 3-year window, the weekly returns of DGRO and SWK correlate at 0.66, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Stretching to 5 years gives 0.63, with an annualized covariance of 267.0 %².
Within DGRO's tracked universe of 138 assets, SWK comes in at #44 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SWK outperformed by 16.0 percentage points (+21.0% for DGRO against +37.0% for SWK). Stability stands out here, with the rolling one-year correlation confined to 0.59 through 0.79. Risk is not evenly split, since SWK carries 3.1 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 SWK: side by side
| DGRO (iShares Core Dividend Growth ETF) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | +21.0% | +37.0% |
| 5-year return | +67.9% | -39.1% |
| Volatility (ann.) | 11.4% | 35.4% |
| Beta vs S&P 500 | 0.65 | 1.19 |
| Max drawdown (3Y) | -14.0% | -48.3% |
| Market cap | – | $15.0B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | 1.89% | 3.33% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Industrials |
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 | SWK |
|---|---|---|
| 2022 | -7.9% | -58.9% |
| 2023 | +10.5% | +35.6% |
| 2024 | +16.6% | -15.2% |
| 2025 | +15.7% | -3.2% |
| 2026 | +15.2% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and SWK good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DGRO and SWK?
The DGRO/SWK correlation stands at 0.66 on a 3-year window (1 year: 0.62, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is SWK a good diversifier for DGRO?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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-swk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgro-vs-swk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · SWK correlations
