DIA vs PH: Correlation
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and Parker Hannifin (PH) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and PH?
Across a 3-year window, the weekly returns of DIA and PH correlate at 0.70, strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.70 over 3 years. Stretching to 5 years gives 0.72, with an annualized covariance of 243.6 %².
Within DIA's tracked universe of 116 assets, PH comes in at #39 by 3-year correlation. On 12-month performance PH holds a 13.6-point edge, +19.2% against +32.8%. Across three years, the rolling one-year figure varied moderately, from 0.46 to 0.91. Note the risk asymmetry: PH runs 2.0 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 PH: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | +19.2% | +32.8% |
| 5-year return | +64.8% | +256.4% |
| Volatility (ann.) | 13.0% | 26.6% |
| Beta vs S&P 500 | 0.79 | 1.16 |
| Max drawdown (3Y) | -16.0% | -26.8% |
| Market cap | – | $127.5B |
| P/E (trailing) | – | 36.5 |
| Dividend yield | 1.37% | 0.71% |
| 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 | PH |
|---|---|---|
| 2022 | -7.0% | -6.9% |
| 2023 | +16.0% | +60.8% |
| 2024 | +14.8% | +39.6% |
| 2025 | +14.7% | +39.5% |
| 2026 | +12.3% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and PH good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DIA and PH?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.48 over the last year and 0.72 over 5 years.
Is PH a good diversifier for DIA?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dia-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · PH correlations
