DGRO vs TXT: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and Textron (TXT) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and TXT?
Across a 3-year window, the weekly returns of DGRO and TXT correlate at 0.67, strong. The past 12 months show a weaker link (0.55) than the 3-year average (0.67). Stretching to 5 years gives 0.67, with an annualized covariance of 194.4 %².
By 3-year correlation, TXT places #41 of the 138 assets tracked against DGRO. Their recent paths diverged sharply: over the last 12 months DGRO outperformed by 20.3 percentage points (+21.0% for DGRO against +0.7% for TXT). The relationship is regime-dependent: the rolling one-year correlation swung between 0.37 and 0.89 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: TXT is 2.2 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 TXT: side by side
| DGRO (iShares Core Dividend Growth ETF) | TXT (Textron) | |
|---|---|---|
| 1-year return | +21.0% | +0.7% |
| 5-year return | +67.9% | +15.1% |
| Volatility (ann.) | 11.4% | 25.4% |
| Beta vs S&P 500 | 0.65 | 0.89 |
| Max drawdown (3Y) | -14.0% | -37.3% |
| Market cap | – | $14.2B |
| P/E (trailing) | – | 15.7 |
| Dividend yield | 1.89% | 0.10% |
| 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 | TXT |
|---|---|---|
| 2022 | -7.9% | -8.2% |
| 2023 | +10.5% | +13.7% |
| 2024 | +16.6% | -4.8% |
| 2025 | +15.7% | +14.1% |
| 2026 | +15.2% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and TXT good diversifiers for each other?
Only partially. A correlation of 0.67 means DGRO and TXT 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 TXT?
As of 2026-08-27, the correlation of weekly returns between DGRO and TXT is 0.67 over 3 years, 0.55 over 1 year and 0.67 over 5 years.
Is TXT a good diversifier for DGRO?
Only partially. A correlation of 0.67 means DGRO and TXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGRO correlations · TXT correlations
