DIA vs IEX: Correlation
SPDR Dow Jones Industrial Average ETF (DIA) and IDEX Corporation (IEX) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and IEX?
Across a 3-year window, the weekly returns of DIA and IEX correlate at 0.67, strong. The past 12 months show a weaker link (0.53) than the 3-year average (0.67). Stretching to 5 years gives 0.67, with an annualized covariance of 204.3 %².
Among the 116 assets we track against DIA, IEX ranks #49 by 3-year correlation. The last year tells two different stories: IEX led by 23.8 percentage points, +19.2% for DIA against +43.0% for IEX. Stability stands out here, with the rolling one-year correlation confined to 0.54 through 0.76. Note the risk asymmetry: IEX 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 IEX: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | IEX (IDEX Corporation) | |
|---|---|---|
| 1-year return | +19.2% | +43.0% |
| 5-year return | +64.8% | +10.5% |
| Volatility (ann.) | 13.0% | 23.3% |
| Beta vs S&P 500 | 0.79 | 0.89 |
| Max drawdown (3Y) | -16.0% | -34.6% |
| Market cap | – | $17.2B |
| P/E (trailing) | – | 33.8 |
| Dividend yield | 1.37% | 1.23% |
| 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 | IEX |
|---|---|---|
| 2022 | -7.0% | -2.2% |
| 2023 | +16.0% | -3.8% |
| 2024 | +14.8% | -2.4% |
| 2025 | +14.7% | -13.7% |
| 2026 | +12.3% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and IEX good diversifiers for each other?
Only partially. A correlation of 0.67 means DIA and IEX 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 IEX?
The DIA/IEX correlation stands at 0.67 on a 3-year window (1 year: 0.53, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is IEX a good diversifier for DIA?
Only partially. A correlation of 0.67 means DIA and IEX 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?
On the −1 to +1 scale, 0.67 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-iex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dia-vs-iex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · IEX correlations
