DIA vs NDSN: Correlation
SPDR Dow Jones Industrial Average ETF (DIA) and Nordson Corporation (NDSN) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and NDSN?
Over the past 3 years, DIA and NDSN moved with a correlation of 0.69, which is strong. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.69). Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 221.9 %².
Within DIA's tracked universe of 116 assets, NDSN comes in at #41 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NDSN outperformed by 29.3 percentage points (+19.2% for DIA against +48.5% for NDSN). Across three years, the rolling one-year figure varied moderately, from 0.54 to 0.80. One caveat on sizing: NDSN is 1.9 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 NDSN: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | NDSN (Nordson Corporation) | |
|---|---|---|
| 1-year return | +19.2% | +48.5% |
| 5-year return | +64.8% | +46.5% |
| Volatility (ann.) | 13.0% | 24.7% |
| Beta vs S&P 500 | 0.79 | 0.97 |
| Max drawdown (3Y) | -16.0% | -39.1% |
| Market cap | – | $18.4B |
| P/E (trailing) | – | 33.5 |
| Dividend yield | 1.37% | 0.98% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | NDSN |
|---|---|---|
| 2022 | -7.0% | -5.9% |
| 2023 | +16.0% | +12.4% |
| 2024 | +14.8% | -20.1% |
| 2025 | +14.7% | +17.0% |
| 2026 | +12.3% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and NDSN good diversifiers for each other?
Only partially. A correlation of 0.69 means DIA and NDSN 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 NDSN?
The DIA/NDSN correlation stands at 0.69 on a 3-year window (1 year: 0.46, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is NDSN a good diversifier for DIA?
Only partially. A correlation of 0.69 means DIA and NDSN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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-ndsn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dia-vs-ndsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DIA correlations · NDSN correlations
