Dover Correlations

DOV Stock

USD 206.00 1.26 0.61%

The current 90-days correlation between Dover and Veralto is 0.35 (i.e., Weak diversification). The correlation of Dover is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Dover Correlation With Market

Very poor diversification

The correlation between Dover and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dover and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Dover Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dover. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy Dover Stock please use our How to Invest in Dover guide.

Moving together with Dover Stock

0.61	CR	Crane Company Earnings Call This Week	Pair Corr
0.84	RFG	Roebuck Food Group	Pair Corr
0.87	GGG	Graco Inc	Pair Corr
0.94	GRC	Gorman Rupp Earnings Call Tomorrow	Pair Corr
0.93	IEX	IDEX Earnings Call This Week	Pair Corr
0.8	KAI	Kadant Inc	Pair Corr
0.92	SWK	Stanley Black Decker Earnings Call This Week	Pair Corr
0.94	WWD	Woodward Earnings Call This Week	Pair Corr
0.64	002976	Suzhou Cheersson Pre	Pair Corr
0.73	300629	King Strong New	Pair Corr
0.72	600499	Keda Clean Energy	Pair Corr
0.83	NDSN	Nordson	Pair Corr
0.81	002532	Tianshan Aluminum	Pair Corr
0.77	688335	Shanghai CEO Environ	Pair Corr
0.65	PRLB	Proto Labs	Pair Corr

Moving against Dover Stock

0.8	CXT	Crane NXT	Pair Corr
0.74	002786	Shenzhen Silver Basis	Pair Corr
0.6	002855	Dongguan Chitwing	Pair Corr
0.53	300956	Anhui Shiny Electronic	Pair Corr
0.52	HYFM	Hydrofarm Holdings	Pair Corr
0.42	XOS	Xos Inc	Pair Corr
0.75	LIQT	LiqTech International	Pair Corr
0.72	BURU	Nuburu Inc	Pair Corr
0.7	600243	Qinghaihuading Industrial	Pair Corr
0.67	XSG	Xeros Technology	Pair Corr
0.63	DSKYF	Daiichi Sankyo Earnings Call Tomorrow	Pair Corr
0.58	603277	Yindu Kitchen Equipment	Pair Corr
0.38	300293	Shenyang Blue Silver	Pair Corr

Related Correlations Analysis

	VLTO	HUBB	HWM	PNR	IR	EFX	AER	ITT	CW	IEX
VLTO		0.18	0.3	0.29	0.54	0.65	0.01	-0.11	0.28	0.41	VLTO
HUBB	0.18		0.77	0.28	0.75	0.1	0.48	0.31	0.89	0.74	HUBB
HWM	0.3	0.77		0.12	0.69	0.12	0.45	0.39	0.84	0.67	HWM
PNR	0.29	0.28	0.12		0.15	0.19	-0.41	0.35	0.32	0.03	PNR
IR	0.54	0.75	0.69	0.15		0.38	0.56	-0.02	0.77	0.95	IR
EFX	0.65	0.1	0.12	0.19	0.38		0.05	-0.44	0.03	0.21	EFX
AER	0.01	0.48	0.45	-0.41	0.56	0.05		-0.17	0.29	0.71	AER
ITT	-0.11	0.31	0.39	0.35	-0.02	-0.44	-0.17		0.41	-0.04	ITT
CW	0.28	0.89	0.84	0.32	0.77	0.03	0.29	0.41		0.75	CW
IEX	0.41	0.74	0.67	0.03	0.95	0.21	0.71	-0.04	0.75		IEX
	VLTO	HUBB	HWM	PNR	IR	EFX	AER	ITT	CW	IEX

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

IEX	+ 0.95	IR
CW	+ 0.89	HUBB
CW	+ 0.84	HWM
HWM	+ 0.77	HUBB
CW	+ 0.77	IR
IR	+ 0.75	HUBB

High negative correlations

ITT	- 0.44	EFX
AER	- 0.41	PNR
ITT	- 0.17	AER
ITT	- 0.11	VLTO
IEX	- 0.04	ITT
ITT	- 0.02	IR

Risk-Adjusted Indicators

There is a big difference between Dover Stock performing well and Dover Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Dover's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VLTO	0.87	(0.13)	0.00	(0.16)	0.00	0.00	1.43	(1.83)	8.53
HUBB	1.35	0.09	0.07	0.13	1.56	(1.42)	3.55	(2.83)	8.35
HWM	1.25	0.02	0.01	0.09	1.43	(1.30)	2.77	(2.18)	7.17
PNR	1.02	(0.14)	0.00	(0.06)	0.00	0.00	2.77	(2.39)	7.55
IR	1.30	(0.01)	0.02	0.06	1.42	(1.49)	3.32	(2.52)	8.77
EFX	1.31	(0.25)	0.00	(0.14)	0.00	0.00	2.95	(3.01)	9.21
AER	0.95	0.22	0.20	0.41	0.69	(1.13)	2.39	(1.63)	11.63
ITT	1.19	(0.01)	0.00	0.05	1.83	(1.13)	1.76	(2.11)	17.49
CW	1.52	0.18	0.10	0.19	1.70	(1.58)	3.22	(2.62)	8.10
IEX	0.99	0.17	0.17	0.22	0.74	(1.18)	2.68	(1.79)	6.54

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC