DIA vs MMM: Correlation
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and 3M (MMM) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and MMM?
Over the past 3 years, DIA and MMM moved with a correlation of 0.59, which is moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 230.9 %².
Among the 116 assets we track against DIA, MMM ranks #66 by 3-year correlation. Twelve-month performance is nearly a tie, at +19.2% for DIA and +16.4% for MMM. Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.82. Risk is not evenly split, since MMM carries 2.3 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 MMM: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | MMM (3M) | |
|---|---|---|
| 1-year return | +19.2% | +16.4% |
| 5-year return | +64.8% | +29.9% |
| Volatility (ann.) | 13.0% | 29.8% |
| Beta vs S&P 500 | 0.79 | 0.89 |
| Max drawdown (3Y) | -16.0% | -20.7% |
| Market cap | – | $92.2B |
| P/E (trailing) | – | 31.9 |
| Dividend yield | 1.37% | 1.68% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | MMM |
|---|---|---|
| 2022 | -7.0% | -29.6% |
| 2023 | +16.0% | -3.3% |
| 2024 | +14.8% | +46.1% |
| 2025 | +14.7% | +26.4% |
| 2026 | +12.3% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 2.0% of DIA is MMM itself, so the fund partly moves with the stock by construction.
Are DIA and MMM good diversifiers for each other?
Only partially. A correlation of 0.59 means DIA and MMM 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 MMM?
The DIA/MMM correlation stands at 0.59 on a 3-year window (1 year: 0.61, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is MMM a good diversifier for DIA?
Only partially. A correlation of 0.59 means DIA and MMM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 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-mmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dia-vs-mmm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · MMM correlations
