NDSN vs SCHD: Correlation
How closely do Nordson Corporation (NDSN) and Schwab US Dividend Equity ETF (SCHD) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDSN and SCHD?
Over the past 3 years, NDSN and SCHD moved with a correlation of 0.71, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.55 versus 0.71 over 3 years. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 224.6 %².
Among the 39 assets we track against NDSN, SCHD ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NDSN outperformed by 18.9 percentage points (+48.5% for NDSN against +29.6% for SCHD). The link looks structural: the rolling one-year correlation barely moved, holding between 0.57 and 0.80. One caveat on sizing: NDSN is 1.9 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.
NDSN vs SCHD: side by side
| NDSN (Nordson Corporation) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +48.5% | +29.6% |
| 5-year return | +46.5% | +60.9% |
| Volatility (ann.) | 24.7% | 12.9% |
| Beta vs S&P 500 | 0.97 | 0.52 |
| Max drawdown (3Y) | -39.1% | -16.1% |
| Market cap | $18.4B | – |
| P/E (trailing) | 33.5 | – |
| Dividend yield | 0.98% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | Industrials | 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 | NDSN | SCHD |
|---|---|---|
| 2022 | -5.9% | -3.3% |
| 2023 | +12.4% | +4.5% |
| 2024 | -20.1% | +11.7% |
| 2025 | +17.0% | +4.3% |
| 2026 | +38.4% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDSN and SCHD good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NDSN and SCHD?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.55 over the last year and 0.70 over 5 years.
Is SCHD a good diversifier for NDSN?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 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/ndsn-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ndsn-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NDSN correlations · SCHD correlations
