DIA vs TXT: Correlation
How closely do SPDR Dow Jones Industrial Average ETF (DIA) and Textron (TXT) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and TXT?
On 3 years of weekly data the DIA/TXT correlation comes out at 0.62, strong. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.62). The 5-year figure is 0.65, and annualized covariance runs at 204.3 %².
Among the 116 assets we track against DIA, TXT ranks #59 by 3-year correlation. The last year tells two different stories: DIA led by 18.5 percentage points, +19.2% for DIA against +0.7% for TXT. The rolling one-year correlation moved between 0.34 and 0.84 over the past three years, a moderate range. One caveat on sizing: TXT is 2.0 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 TXT: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | TXT (Textron) | |
|---|---|---|
| 1-year return | +19.2% | +0.7% |
| 5-year return | +64.8% | +15.1% |
| Volatility (ann.) | 13.0% | 25.4% |
| Beta vs S&P 500 | 0.79 | 0.89 |
| Max drawdown (3Y) | -16.0% | -37.3% |
| Market cap | – | $14.2B |
| P/E (trailing) | – | 15.7 |
| Dividend yield | 1.37% | 0.10% |
| 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 | TXT |
|---|---|---|
| 2022 | -7.0% | -8.2% |
| 2023 | +16.0% | +13.7% |
| 2024 | +14.8% | -4.8% |
| 2025 | +14.7% | +14.1% |
| 2026 | +12.3% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and TXT good diversifiers for each other?
Only partially. A correlation of 0.62 means DIA and TXT 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 TXT?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.46 over the last year and 0.65 over 5 years.
Is TXT a good diversifier for DIA?
Only partially. A correlation of 0.62 means DIA and TXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dia-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · TXT correlations
