DGRO vs SYK: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Stryker Corporation (SYK) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and SYK?
Over the past 3 years, DGRO and SYK moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 123.1 %².
By 3-year correlation, SYK places #105 of the 138 assets tracked against DGRO. Their recent paths diverged sharply: over the last 12 months DGRO outperformed by 38.2 percentage points (+21.0% for DGRO against -17.2% for SYK). On a rolling one-year basis the correlation drifted between 0.28 and 0.73, a moderate band. Risk is not evenly split, since SYK carries 1.9 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 SYK: side by side
| DGRO (iShares Core Dividend Growth ETF) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | +21.0% | -17.2% |
| 5-year return | +67.9% | +23.8% |
| Volatility (ann.) | 11.4% | 21.5% |
| Beta vs S&P 500 | 0.65 | 0.61 |
| Max drawdown (3Y) | -14.0% | -29.4% |
| Market cap | – | $123.6B |
| P/E (trailing) | – | 34.1 |
| 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 | SYK |
|---|---|---|
| 2022 | -7.9% | -7.4% |
| 2023 | +10.5% | +23.8% |
| 2024 | +16.6% | +21.3% |
| 2025 | +15.7% | -1.5% |
| 2026 | +15.2% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
SYK represents 0.29% of DGRO's portfolio, so part of any move in DGRO is SYK itself, and the correlation between them is partly mechanical.
Are DGRO and SYK good diversifiers for each other?
To a limited degree. At 0.50 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 SYK?
The DGRO/SYK correlation stands at 0.50 on a 3-year window (1 year: 0.43, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is SYK a good diversifier for DGRO?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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-syk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgro-vs-syk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · SYK correlations
