DGRO vs TDY: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Teledyne Technologies (TDY) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and TDY?
Across a 3-year window, the weekly returns of DGRO and TDY correlate at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 147.8 %².
Within DGRO's tracked universe of 138 assets, TDY comes in at #71 by 3-year correlation. The trailing year gives DGRO the advantage: +21.0% versus +15.7%, a 5.3-point spread. The rolling one-year correlation moved between 0.42 and 0.75 over the past three years, a moderate range. One caveat on sizing: TDY is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TDY: side by side
| DGRO (iShares Core Dividend Growth ETF) | TDY (Teledyne Technologies) | |
|---|---|---|
| 1-year return | +21.0% | +15.7% |
| 5-year return | +67.9% | +36.5% |
| Volatility (ann.) | 11.4% | 22.0% |
| Beta vs S&P 500 | 0.65 | 0.76 |
| Max drawdown (3Y) | -14.0% | -18.8% |
| Market cap | – | $29.0B |
| P/E (trailing) | – | 30.7 |
| Dividend yield | 1.89% | 0.00% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Information Technology |
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 | TDY |
|---|---|---|
| 2022 | -7.9% | -8.5% |
| 2023 | +10.5% | +11.6% |
| 2024 | +16.6% | +4.0% |
| 2025 | +15.7% | +10.0% |
| 2026 | +15.2% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and TDY good diversifiers for each other?
Only partially. A correlation of 0.59 means DGRO and TDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DGRO and TDY?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.51 over the last year and 0.65 over 5 years.
Is TDY a good diversifier for DGRO?
Only partially. A correlation of 0.59 means DGRO and TDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 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-tdy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgro-vs-tdy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · TDY correlations
