DIA vs NTRS: Correlation
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and Northern Trust (NTRS) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and NTRS?
On 3 years of weekly data the DIA/NTRS correlation comes out at 0.73, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.73 over 3. The 5-year figure is 0.72, and annualized covariance runs at 223.8 %².
By 3-year correlation, NTRS places #30 of the 116 assets tracked against DIA. Correlation aside, the last 12 months split them widely, with NTRS ahead by 25.6 points (+19.2% versus +44.8%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.59 and 0.80. Note the risk asymmetry: NTRS runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 NTRS: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | NTRS (Northern Trust) | |
|---|---|---|
| 1-year return | +19.2% | +44.8% |
| 5-year return | +64.8% | +83.2% |
| Volatility (ann.) | 13.0% | 23.7% |
| Beta vs S&P 500 | 0.79 | 1.08 |
| Max drawdown (3Y) | -16.0% | -25.2% |
| Market cap | – | $34.1B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | 1.37% | 1.71% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Financials |
On the fund side, DIA sits in the Large Value category at State Street Investment Management, with $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield.
Year-by-year returns
| Year | DIA | NTRS |
|---|---|---|
| 2022 | -7.0% | -23.8% |
| 2023 | +16.0% | -1.0% |
| 2024 | +14.8% | +25.6% |
| 2025 | +14.7% | +36.9% |
| 2026 | +12.3% | +37.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and NTRS good diversifiers for each other?
Only partially. A correlation of 0.73 means DIA and NTRS 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 NTRS?
The DIA/NTRS correlation stands at 0.73 on a 3-year window (1 year: 0.63, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is NTRS a good diversifier for DIA?
Only partially. A correlation of 0.73 means DIA and NTRS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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-ntrs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dia-vs-ntrs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DIA correlations · NTRS correlations
