DIA vs TDY: Correlation
Measured on weekly returns over the past three years, SPDR Dow Jones Industrial Average ETF (DIA) and Teledyne Technologies (TDY) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and TDY?
Across a 3-year window, the weekly returns of DIA and TDY correlate at 0.59, moderate. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.59). Stretching to 5 years gives 0.64, with an annualized covariance of 169.5 %².
Among the 116 assets we track against DIA, TDY ranks #70 by 3-year correlation. Twelve-month performance is nearly a tie, at +19.2% for DIA and +15.7% for TDY. On a rolling one-year basis the correlation drifted between 0.38 and 0.71, a moderate band. Risk is not evenly split, since TDY carries 1.7 times the volatility of the other side.
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 TDY: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | TDY (Teledyne Technologies) | |
|---|---|---|
| 1-year return | +19.2% | +15.7% |
| 5-year return | +64.8% | +36.5% |
| Volatility (ann.) | 13.0% | 22.0% |
| Beta vs S&P 500 | 0.79 | 0.76 |
| Max drawdown (3Y) | -16.0% | -18.8% |
| Market cap | – | $29.0B |
| P/E (trailing) | – | 30.7 |
| Dividend yield | 1.37% | 0.00% |
| Expense ratio | 0.16% | – |
| Assets under management | $45.2B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
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 | TDY |
|---|---|---|
| 2022 | -7.0% | -8.5% |
| 2023 | +16.0% | +11.6% |
| 2024 | +14.8% | +4.0% |
| 2025 | +14.7% | +10.0% |
| 2026 | +12.3% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and TDY good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DIA and TDY?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.44 over the last year and 0.64 over 5 years.
Is TDY a good diversifier for DIA?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 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
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Related comparisons
Hubs: DIA correlations · TDY correlations
