DIA vs LAZ: Correlation
SPDR Dow Jones Industrial Average ETF (DIA) and Lazard, Inc. (LAZ) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and LAZ?
Across a 3-year window, the weekly returns of DIA and LAZ correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 320.6 %².
Within DIA's tracked universe of 116 assets, LAZ comes in at #46 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DIA outperformed by 41.1 percentage points (+19.2% for DIA against -21.9% for LAZ). One caveat on sizing: LAZ is 2.8 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.
DIA vs LAZ: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | LAZ (Lazard, Inc.) | |
|---|---|---|
| 1-year return | +19.2% | -21.9% |
| 5-year return | +64.8% | +14.6% |
| Volatility (ann.) | 13.0% | 36.4% |
| Beta vs S&P 500 | 0.79 | 1.49 |
| Max drawdown (3Y) | -16.0% | -44.2% |
| Market cap | – | $4.2B |
| P/E (trailing) | – | 21.1 |
| Dividend yield | 1.37% | 4.67% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | LAZ |
|---|---|---|
| 2022 | -7.0% | -16.2% |
| 2023 | +16.0% | +6.9% |
| 2024 | +14.8% | +54.8% |
| 2025 | +14.7% | -1.6% |
| 2026 | +12.3% | -8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and LAZ good diversifiers for each other?
Only partially. A correlation of 0.68 means DIA and LAZ 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 LAZ?
As of 2026-08-27, the correlation of weekly returns between DIA and LAZ is 0.68 over 3 years, 0.59 over 1 year and 0.68 over 5 years.
Is LAZ a good diversifier for DIA?
Only partially. A correlation of 0.68 means DIA and LAZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 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/dia-vs-laz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dia-vs-laz/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DIA correlations · LAZ correlations
