DLR vs ETN: Correlation
Measured on weekly returns over the past three years, Digital Realty (DLR) and Eaton Corporation (ETN) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLR and ETN?
Across a 3-year window, the weekly returns of DLR and ETN correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.47, with an annualized covariance of 393.7 %².
Among the 30 assets we track against DLR, ETN ranks #7 by 3-year correlation. Neither side won the trailing year by much: +16.4% against +19.7%. The rolling one-year correlation moved between 0.24 and 0.67 over the past three years, a moderate range.
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.
DLR vs ETN: side by side
| DLR (Digital Realty) | ETN (Eaton Corporation) | |
|---|---|---|
| 1-year return | +16.4% | +19.7% |
| 5-year return | +40.3% | +164.1% |
| Volatility (ann.) | 27.1% | 30.2% |
| Beta vs S&P 500 | 0.73 | 1.33 |
| Max drawdown (3Y) | -29.4% | -34.5% |
| Market cap | $72.5B | $161.6B |
| P/E (trailing) | 94.2 | 42.4 |
| Dividend yield | 2.52% | 1.02% |
| Sector / category | Real Estate | Industrials |
Year-by-year returns
| Year | DLR | ETN |
|---|---|---|
| 2022 | -41.0% | -7.2% |
| 2023 | +39.9% | +56.2% |
| 2024 | +35.9% | +39.5% |
| 2025 | -10.1% | -2.8% |
| 2026 | +25.8% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and ETN good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DLR and ETN?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.45 over the last year and 0.47 over 5 years.
Is ETN a good diversifier for DLR?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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.
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Related comparisons
Hubs: DLR correlations · ETN correlations
