EMN vs SCHD: Correlation
Measured on weekly returns over the past three years, Eastman Chemical Company (EMN) and Schwab US Dividend Equity ETF (SCHD) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMN and SCHD?
Across a 3-year window, the weekly returns of EMN and SCHD correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 265.6 %².
SCHD is one of the assets that tracks EMN most closely: it ranks #2 out of the 22 assets we track against EMN. Correlation aside, the last 12 months split them widely, with SCHD ahead by 18.8 points (+10.8% versus +29.6%). One caveat on sizing: EMN is 2.4 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.
EMN vs SCHD: side by side
| EMN (Eastman Chemical Company) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +10.8% | +29.6% |
| 5-year return | -22.9% | +60.9% |
| Volatility (ann.) | 30.5% | 12.9% |
| Beta vs S&P 500 | 0.95 | 0.52 |
| Max drawdown (3Y) | -48.4% | -16.1% |
| Market cap | $8.3B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 4.59% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | US Listed | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | EMN | SCHD |
|---|---|---|
| 2022 | -30.4% | -3.3% |
| 2023 | +14.7% | +4.5% |
| 2024 | +5.1% | +11.7% |
| 2025 | -26.9% | +4.3% |
| 2026 | +16.5% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMN and SCHD good diversifiers for each other?
Only partially. A correlation of 0.68 means EMN and SCHD 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 EMN and SCHD?
As of 2026-08-27, the correlation of weekly returns between EMN and SCHD is 0.68 over 3 years, 0.69 over 1 year and 0.73 over 5 years.
Is SCHD a good diversifier for EMN?
Only partially. A correlation of 0.68 means EMN and SCHD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/emn-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/emn-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EMN correlations · SCHD correlations
