DIA vs MLP: Correlation
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and Maui Land & Pineapple Company, Inc. (MLP) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and MLP?
Over the past 3 years, DIA and MLP moved with a correlation of 0.48, which is moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 247.7 %².
By 3-year correlation, MLP places #92 of the 116 assets tracked against DIA. Correlation aside, the last 12 months split them widely, with DIA ahead by 27.4 points (+19.2% versus -8.2%). One caveat on sizing: MLP is 3.0 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 MLP: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | MLP (Maui Land & Pineapple Company, Inc.) | |
|---|---|---|
| 1-year return | +19.2% | -8.2% |
| 5-year return | +64.8% | +43.7% |
| Volatility (ann.) | 13.0% | 39.6% |
| Beta vs S&P 500 | 0.79 | 1.03 |
| Max drawdown (3Y) | -16.0% | -45.5% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 1.37% | 0.00% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | MLP |
|---|---|---|
| 2022 | -7.0% | -5.4% |
| 2023 | +16.0% | +68.7% |
| 2024 | +14.8% | +38.3% |
| 2025 | +14.7% | -22.9% |
| 2026 | +12.3% | -6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and MLP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DIA and MLP?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.38 over the last year and 0.39 over 5 years.
Is MLP a good diversifier for DIA?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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-mlp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dia-vs-mlp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DIA correlations · MLP correlations
