DGRO vs WEX: Correlation
Measured on weekly returns over the past three years, iShares Core Dividend Growth ETF (DGRO) and WEX Inc. (WEX) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and WEX?
Over the past 3 years, DGRO and WEX moved with a correlation of 0.54, which is moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.54). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 220.1 %².
Among the 138 assets we track against DGRO, WEX ranks #97 by 3-year correlation. Over the last 12 months DGRO came out ahead by 6.3 percentage points (+21.0% against +14.7%). Risk is not evenly split, since WEX 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 WEX: side by side
| DGRO (iShares Core Dividend Growth ETF) | WEX (WEX Inc.) | |
|---|---|---|
| 1-year return | +21.0% | +14.7% |
| 5-year return | +67.9% | +8.4% |
| Volatility (ann.) | 11.4% | 35.5% |
| Beta vs S&P 500 | 0.65 | 0.97 |
| Max drawdown (3Y) | -14.0% | -53.2% |
| Market cap | – | $6.8B |
| P/E (trailing) | – | 19.8 |
| Dividend yield | 1.89% | 0.00% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | US Listed |
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 | WEX |
|---|---|---|
| 2022 | -7.9% | +16.6% |
| 2023 | +10.5% | +18.9% |
| 2024 | +16.6% | -9.9% |
| 2025 | +15.7% | -15.0% |
| 2026 | +15.2% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and WEX good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DGRO and WEX?
As of 2026-08-27, the correlation of weekly returns between DGRO and WEX is 0.54 over 3 years, 0.28 over 1 year and 0.56 over 5 years.
Is WEX a good diversifier for DGRO?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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-wex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-wex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGRO correlations · WEX correlations
