DIA vs HON: Correlation
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and Honeywell Technologies (HON) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and HON?
On 3 years of weekly data the DIA/HON correlation comes out at 0.55, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.55 over 3 years. The 5-year figure is 0.63, and annualized covariance runs at 166.5 %².
Among the 116 assets we track against DIA, HON ranks #84 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DIA ahead by 16.5 points (+19.2% versus +2.7%). On a rolling one-year basis the correlation drifted between 0.42 and 0.80, a moderate band. Risk is not evenly split, since HON carries 1.8 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.
DIA vs HON: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | HON (Honeywell Technologies) | |
|---|---|---|
| 1-year return | +19.2% | +2.7% |
| 5-year return | +64.8% | +6.6% |
| Volatility (ann.) | 13.0% | 23.2% |
| Beta vs S&P 500 | 0.79 | 0.74 |
| Max drawdown (3Y) | -16.0% | -22.1% |
| Market cap | – | $69.9B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 1.37% | 4.26% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Industrials |
On the fund side, DIA sits in the Large Value category at State Street Investment Management, with $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield.
Year-by-year returns
| Year | DIA | HON |
|---|---|---|
| 2022 | -7.0% | +4.9% |
| 2023 | +16.0% | +0.0% |
| 2024 | +14.8% | +10.0% |
| 2025 | +14.7% | -6.4% |
| 2026 | +12.3% | +9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
HON represents 2.45% of DIA's portfolio, so part of any move in DIA is HON itself, and the correlation between them is partly mechanical.
Are DIA and HON good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DIA and HON?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.43 over the last year and 0.63 over 5 years.
Is HON a good diversifier for DIA?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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-hon.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dia-vs-hon/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DIA correlations · HON correlations
