DGRO vs TSCO: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Tractor Supply (TSCO) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and TSCO?
On 3 years of weekly data the DGRO/TSCO correlation comes out at 0.46, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 149.3 %².
Within DGRO's tracked universe of 138 assets, TSCO comes in at #115 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DGRO ahead by 64.0 points (+21.0% versus -43.0%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.37 and 0.60. Note the risk asymmetry: TSCO runs 2.5 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 TSCO: side by side
| DGRO (iShares Core Dividend Growth ETF) | TSCO (Tractor Supply) | |
|---|---|---|
| 1-year return | +21.0% | -43.0% |
| 5-year return | +67.9% | -1.7% |
| Volatility (ann.) | 11.4% | 28.5% |
| Beta vs S&P 500 | 0.65 | 0.67 |
| Max drawdown (3Y) | -14.0% | -52.7% |
| Market cap | – | $18.1B |
| P/E (trailing) | – | 18.3 |
| Dividend yield | 1.89% | 2.68% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | Consumer Discretionary |
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 | TSCO |
|---|---|---|
| 2022 | -7.9% | -4.0% |
| 2023 | +10.5% | -2.6% |
| 2024 | +16.6% | +25.4% |
| 2025 | +15.7% | -4.2% |
| 2026 | +15.2% | -29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TSCO represents 0.11% of DGRO's portfolio, so part of any move in DGRO is TSCO itself, and the correlation between them is partly mechanical.
Are DGRO and TSCO good diversifiers for each other?
Reasonably. At 0.46, DGRO and TSCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DGRO and TSCO?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.49 over the last year and 0.48 over 5 years.
Is TSCO a good diversifier for DGRO?
Reasonably. At 0.46, DGRO and TSCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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-tsco.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-tsco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · TSCO correlations
