DIA vs MSI: Correlation
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and Motorola Solutions (MSI) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and MSI?
Over the past 3 years, DIA and MSI moved with a correlation of 0.45, which is moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.45). Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 129.3 %².
By 3-year correlation, MSI places #97 of the 116 assets tracked against DIA. Over the last 12 months DIA came out ahead by 13.3 percentage points (+19.2% against +5.9%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.09 to 0.70. One caveat on sizing: MSI is 1.7 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 MSI: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | MSI (Motorola Solutions) | |
|---|---|---|
| 1-year return | +19.2% | +5.9% |
| 5-year return | +64.8% | +111.1% |
| Volatility (ann.) | 13.0% | 22.1% |
| Beta vs S&P 500 | 0.79 | 0.61 |
| Max drawdown (3Y) | -16.0% | -27.0% |
| Market cap | – | $80.5B |
| P/E (trailing) | – | 38.5 |
| Dividend yield | 1.37% | 0.97% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
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 | MSI |
|---|---|---|
| 2022 | -7.0% | -3.8% |
| 2023 | +16.0% | +23.0% |
| 2024 | +14.8% | +49.1% |
| 2025 | +14.7% | -16.2% |
| 2026 | +12.3% | +27.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and MSI good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DIA and MSI?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.16 over the last year and 0.55 over 5 years.
Is MSI a good diversifier for DIA?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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-msi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dia-vs-msi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · MSI correlations
