DIA vs FTV: Correlation
How closely do SPDR Dow Jones Industrial Average ETF (DIA) and Fortive (FTV) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and FTV?
On 3 years of weekly data the DIA/FTV correlation comes out at 0.64, strong. The link has loosened recently: the 1-year correlation (0.52) runs below the 3-year figure (0.64). The 5-year figure is 0.67, and annualized covariance runs at 197.8 %².
By 3-year correlation, FTV places #55 of the 116 assets tracked against DIA. Neither side won the trailing year by much: +19.2% against +23.9%. On a rolling one-year basis the correlation drifted between 0.50 and 0.78, a moderate band. Note the risk asymmetry: FTV runs 1.8 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.
DIA vs FTV: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | FTV (Fortive) | |
|---|---|---|
| 1-year return | +19.2% | +23.9% |
| 5-year return | +64.8% | +9.6% |
| Volatility (ann.) | 13.0% | 23.8% |
| Beta vs S&P 500 | 0.79 | 0.92 |
| Max drawdown (3Y) | -16.0% | -28.0% |
| Market cap | – | $18.1B |
| P/E (trailing) | – | 31.9 |
| Dividend yield | 1.37% | 0.20% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Industrials |
DIA is a Large Value fund from State Street Investment Management: $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield.
Year-by-year returns
| Year | DIA | FTV |
|---|---|---|
| 2022 | -7.0% | -15.4% |
| 2023 | +16.0% | +15.1% |
| 2024 | +14.8% | +2.3% |
| 2025 | +14.7% | -1.9% |
| 2026 | +12.3% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and FTV good diversifiers for each other?
Only partially. A correlation of 0.64 means DIA and FTV 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 DIA and FTV?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.52 over the last year and 0.67 over 5 years.
Is FTV a good diversifier for DIA?
Only partially. A correlation of 0.64 means DIA and FTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/dia-vs-ftv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dia-vs-ftv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DIA correlations · FTV correlations
