DOW vs TROX: Correlation
How closely do Dow Inc. (DOW) and Tronox Holdings plc (TROX) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOW and TROX?
Over the past 3 years, DOW and TROX moved with a correlation of 0.65, which is strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 1571.7 %².
By 3-year correlation, TROX places #4 of the 32 assets tracked against DOW. On 12-month performance TROX holds a 8.1-point edge, +29.0% against +37.1%. Note the risk asymmetry: TROX runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TROX: side by side
| DOW (Dow Inc.) | TROX (Tronox Holdings plc) | |
|---|---|---|
| 1-year return | +29.0% | +37.1% |
| 5-year return | -38.4% | -67.8% |
| Volatility (ann.) | 35.2% | 69.1% |
| Beta vs S&P 500 | 0.62 | 1.88 |
| Max drawdown (3Y) | -62.2% | -84.5% |
| Market cap | $21.9B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 4.62% | 3.66% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | DOW | TROX |
|---|---|---|
| 2022 | -6.6% | -41.1% |
| 2023 | +14.7% | +7.4% |
| 2024 | -22.8% | -26.4% |
| 2025 | -37.4% | -55.6% |
| 2026 | +32.6% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOW and TROX good diversifiers for each other?
Only partially. A correlation of 0.65 means DOW and TROX 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 DOW and TROX?
The DOW/TROX correlation stands at 0.65 on a 3-year window (1 year: 0.61, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is TROX a good diversifier for DOW?
Only partially. A correlation of 0.65 means DOW and TROX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 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-trox.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dow-vs-trox/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOW correlations · TROX correlations
