DIA vs OTIS: Correlation
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and Otis Worldwide (OTIS) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and OTIS?
On 3 years of weekly data the DIA/OTIS correlation comes out at 0.53, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.53 over 3 years. The 5-year figure is 0.63, and annualized covariance runs at 133.2 %².
Among the 116 assets we track against DIA, OTIS ranks #87 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DIA ahead by 36.0 points (+19.2% versus -16.8%). The rolling one-year correlation moved between 0.40 and 0.75 over the past three years, a moderate range.
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 OTIS: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | OTIS (Otis Worldwide) | |
|---|---|---|
| 1-year return | +19.2% | -16.8% |
| 5-year return | +64.8% | -15.9% |
| Volatility (ann.) | 13.0% | 19.1% |
| Beta vs S&P 500 | 0.79 | 0.59 |
| Max drawdown (3Y) | -16.0% | -32.4% |
| Market cap | – | $27.2B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 1.37% | 2.35% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | OTIS |
|---|---|---|
| 2022 | -7.0% | -8.8% |
| 2023 | +16.0% | +16.0% |
| 2024 | +14.8% | +5.2% |
| 2025 | +14.7% | -4.0% |
| 2026 | +12.3% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and OTIS good diversifiers for each other?
Only partially. A correlation of 0.53 means DIA and OTIS 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 OTIS?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.64 over the last year and 0.63 over 5 years.
Is OTIS a good diversifier for DIA?
Only partially. A correlation of 0.53 means DIA and OTIS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DIA correlations · OTIS correlations
