DOW vs PEO: Correlation
How closely do Dow Inc. (DOW) and Adams Natural Resources Fund, Inc. (PEO) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOW and PEO?
On 3 years of weekly data the DOW/PEO correlation comes out at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 408.4 %².
Among the 32 assets we track against DOW, PEO ranks #14 by 3-year correlation. The trailing year gives PEO the advantage: +29.0% versus +41.6%, a 12.6-point spread. Risk is not evenly split, since DOW 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.
DOW vs PEO: side by side
| DOW (Dow Inc.) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +29.0% | +41.6% |
| 5-year return | -38.4% | +179.3% |
| Volatility (ann.) | 35.2% | 20.2% |
| Beta vs S&P 500 | 0.62 | 0.30 |
| Max drawdown (3Y) | -62.2% | -18.9% |
| Market cap | $21.9B | $0.8B |
| P/E (trailing) | – | 4.8 |
| Dividend yield | 4.62% | 7.09% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | DOW | PEO |
|---|---|---|
| 2022 | -6.6% | +41.8% |
| 2023 | +14.7% | +0.9% |
| 2024 | -22.8% | +13.6% |
| 2025 | -37.4% | +10.0% |
| 2026 | +32.6% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOW and PEO good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DOW and PEO?
As of 2026-08-27, the correlation of weekly returns between DOW and PEO is 0.57 over 3 years, 0.55 over 1 year and 0.56 over 5 years.
Is PEO a good diversifier for DOW?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/dow-vs-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dow-vs-peo/)
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Related comparisons
Hubs: DOW correlations · PEO correlations
