SCHD vs UPS: Correlation
Measured on weekly returns over the past three years, Schwab US Dividend Equity ETF (SCHD) and United Parcel Service (UPS) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHD and UPS?
On 3 years of weekly data the SCHD/UPS correlation comes out at 0.56, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.56 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 213.3 %².
Within SCHD's tracked universe of 108 assets, UPS comes in at #48 by 3-year correlation. Their 12-month results are close: +29.6% for SCHD against +28.2% for UPS. Across three years, the rolling one-year figure varied moderately, from 0.28 to 0.76. Risk is not evenly split, since UPS carries 2.3 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.
SCHD vs UPS: side by side
| SCHD (Schwab US Dividend Equity ETF) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | +29.6% | +28.2% |
| 5-year return | +60.9% | -31.0% |
| Volatility (ann.) | 12.9% | 29.4% |
| Beta vs S&P 500 | 0.52 | 0.81 |
| Max drawdown (3Y) | -16.1% | -46.5% |
| Market cap | – | $89.9B |
| P/E (trailing) | – | 19.6 |
| Dividend yield | 3.13% | 6.21% |
| Expense ratio | 0.06% | – |
| Assets under management | $104.2B | – |
| Sector / category | ETF · Dividend | Industrials |
SCHD is a Large Value fund from Schwab ETFs: $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | SCHD | UPS |
|---|---|---|
| 2022 | -3.3% | -16.2% |
| 2023 | +4.5% | -6.0% |
| 2024 | +11.7% | -15.9% |
| 2025 | +4.3% | -15.9% |
| 2026 | +29.1% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.92% of SCHD is UPS itself, so the fund partly moves with the stock by construction.
Are SCHD and UPS good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SCHD and UPS?
The SCHD/UPS correlation stands at 0.56 on a 3-year window (1 year: 0.46, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is UPS a good diversifier for SCHD?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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/schd-vs-ups.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/schd-vs-ups/)
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Related comparisons
Hubs: SCHD correlations · UPS correlations
