DIA vs RJF: Correlation
SPDR Dow Jones Industrial Average ETF (DIA) and Raymond James Financial (RJF) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and RJF?
On 3 years of weekly data the DIA/RJF correlation comes out at 0.65, strong. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.65). The 5-year figure is 0.67, and annualized covariance runs at 208.9 %².
Among the 116 assets we track against DIA, RJF ranks #52 by 3-year correlation. The trailing year gives DIA the advantage: +19.2% versus +6.3%, a 12.9-point spread. The rolling one-year correlation moved between 0.42 and 0.81 over the past three years, a moderate range. One caveat on sizing: RJF 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 RJF: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | RJF (Raymond James Financial) | |
|---|---|---|
| 1-year return | +19.2% | +6.3% |
| 5-year return | +64.8% | +102.1% |
| Volatility (ann.) | 13.0% | 24.8% |
| Beta vs S&P 500 | 0.79 | 1.03 |
| Max drawdown (3Y) | -16.0% | -28.1% |
| Market cap | – | $33.8B |
| P/E (trailing) | – | 15.4 |
| Dividend yield | 1.37% | 1.20% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Financials |
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 | RJF |
|---|---|---|
| 2022 | -7.0% | +8.3% |
| 2023 | +16.0% | +6.1% |
| 2024 | +14.8% | +40.8% |
| 2025 | +14.7% | +4.7% |
| 2026 | +12.3% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and RJF good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DIA and RJF?
The DIA/RJF correlation stands at 0.65 on a 3-year window (1 year: 0.44, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is RJF a good diversifier for DIA?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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
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Related comparisons
Hubs: DIA correlations · RJF correlations
