BA vs DOV: Correlation
Measured on weekly returns over the past three years, Boeing (BA) and Dover Corporation (DOV) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BA and DOV?
On 3 years of weekly data the BA/DOV correlation comes out at 0.42, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.42 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 345.5 %².
By 3-year correlation, DOV places #22 of the 37 assets tracked against BA. Correlation aside, the last 12 months split them widely, with DOV ahead by 22.5 points (-10.9% versus +11.6%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.05 and 0.66 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since BA carries 1.6 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.
BA vs DOV: side by side
| BA (Boeing) | DOV (Dover Corporation) | |
|---|---|---|
| 1-year return | -10.9% | +11.6% |
| 5-year return | -3.6% | +21.8% |
| Volatility (ann.) | 36.4% | 22.8% |
| Beta vs S&P 500 | 1.43 | 0.99 |
| Max drawdown (3Y) | -48.3% | -26.6% |
| Market cap | $165.9B | $27.2B |
| P/E (trailing) | 76.3 | 24.8 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | BA | DOV |
|---|---|---|
| 2022 | -5.4% | -24.3% |
| 2023 | +36.8% | +15.2% |
| 2024 | -32.1% | +23.3% |
| 2025 | +22.7% | +5.2% |
| 2026 | -3.3% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BA and DOV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BA and DOV?
As of 2026-08-27, the correlation of weekly returns between BA and DOV is 0.42 over 3 years, 0.29 over 1 year and 0.40 over 5 years.
Is DOV a good diversifier for BA?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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/ba-vs-dov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ba-vs-dov/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BA correlations · DOV correlations
