DIA vs MA: Correlation
How closely do SPDR Dow Jones Industrial Average ETF (DIA) and Mastercard (MA) 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 MA?
On 3 years of weekly data the DIA/MA correlation comes out at 0.64, strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.64 over 3 years. The 5-year figure is 0.68, and annualized covariance runs at 160.1 %².
By 3-year correlation, MA places #56 of the 116 assets tracked against DIA. The last year tells two different stories: DIA led by 18.4 percentage points, +19.2% for DIA against +0.8% for MA. On a rolling one-year basis the correlation drifted between 0.41 and 0.80, a moderate band.
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 MA: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | MA (Mastercard) | |
|---|---|---|
| 1-year return | +19.2% | +0.8% |
| 5-year return | +64.8% | +72.6% |
| Volatility (ann.) | 13.0% | 19.3% |
| Beta vs S&P 500 | 0.79 | 0.77 |
| Max drawdown (3Y) | -16.0% | -20.9% |
| Market cap | – | $518.4B |
| P/E (trailing) | – | 32.9 |
| Dividend yield | 1.37% | 0.56% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Financials |
DIA, State Street Investment Management's Large Value fund, carries $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield.
Year-by-year returns
| Year | DIA | MA |
|---|---|---|
| 2022 | -7.0% | -2.7% |
| 2023 | +16.0% | +23.4% |
| 2024 | +14.8% | +24.2% |
| 2025 | +14.7% | +9.0% |
| 2026 | +12.3% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and MA good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DIA and MA?
As of 2026-08-27, the correlation of weekly returns between DIA and MA is 0.64 over 3 years, 0.48 over 1 year and 0.68 over 5 years.
Is MA a good diversifier for DIA?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dia-vs-ma.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dia-vs-ma/)
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Related comparisons
Hubs: DIA correlations · MA correlations
