DIA vs XYL: Correlation
How closely do SPDR Dow Jones Industrial Average ETF (DIA) and Xylem Inc. (XYL) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and XYL?
On 3 years of weekly data the DIA/XYL correlation comes out at 0.61, strong. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.61 over 3 years. The 5-year figure is 0.65, and annualized covariance runs at 189.1 %².
Among the 116 assets we track against DIA, XYL ranks #62 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DIA outperformed by 40.3 percentage points (+19.2% for DIA against -21.1% for XYL). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.27 to 0.79. Risk is not evenly split, since XYL carries 1.8 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 XYL: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | XYL (Xylem Inc.) | |
|---|---|---|
| 1-year return | +19.2% | -21.1% |
| 5-year return | +64.8% | -12.5% |
| Volatility (ann.) | 13.0% | 23.9% |
| Beta vs S&P 500 | 0.79 | 0.96 |
| Max drawdown (3Y) | -16.0% | -30.0% |
| Market cap | – | $26.3B |
| P/E (trailing) | – | 26.8 |
| Dividend yield | 1.37% | 1.47% |
| 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 | XYL |
|---|---|---|
| 2022 | -7.0% | -6.6% |
| 2023 | +16.0% | +4.8% |
| 2024 | +14.8% | +2.6% |
| 2025 | +14.7% | +18.8% |
| 2026 | +12.3% | -16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and XYL good diversifiers for each other?
Only partially. A correlation of 0.61 means DIA and XYL 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 XYL?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.42 over the last year and 0.65 over 5 years.
Is XYL a good diversifier for DIA?
Only partially. A correlation of 0.61 means DIA and XYL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 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-xyl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dia-vs-xyl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · XYL correlations
