BOOT vs DOV: Correlation
Measured on weekly returns over the past three years, Boot Barn Holdings, Inc. (BOOT) and Dover Corporation (DOV) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOOT and DOV?
Over the past 3 years, BOOT and DOV moved with a correlation of 0.50, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.50 over 3 years. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 538.7 %².
Among the 12 assets we track against BOOT, DOV ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DOV ahead by 23.7 points (-12.1% versus +11.6%). Risk is not evenly split, since BOOT carries 2.1 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.
BOOT vs DOV: side by side
| BOOT (Boot Barn Holdings, Inc.) | DOV (Dover Corporation) | |
|---|---|---|
| 1-year return | -12.1% | +11.6% |
| 5-year return | +77.0% | +21.8% |
| Volatility (ann.) | 47.6% | 22.8% |
| Beta vs S&P 500 | 1.52 | 0.99 |
| Max drawdown (3Y) | -48.9% | -26.6% |
| Market cap | $4.7B | $27.2B |
| P/E (trailing) | 20.2 | 24.8 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | BOOT | DOV |
|---|---|---|
| 2022 | -49.2% | -24.3% |
| 2023 | +22.8% | +15.2% |
| 2024 | +97.8% | +23.3% |
| 2025 | +16.2% | +5.2% |
| 2026 | -11.8% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOOT and DOV good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BOOT and DOV?
The BOOT/DOV correlation stands at 0.50 on a 3-year window (1 year: 0.63, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is DOV a good diversifier for BOOT?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/boot-vs-dov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/boot-vs-dov/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BOOT correlations · DOV correlations
