CDW vs DOV: Correlation
How closely do CDW Corporation (CDW) and Dover Corporation (DOV) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and DOV?
On 3 years of weekly data the CDW/DOV correlation comes out at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.47). The 5-year figure is 0.50, and annualized covariance runs at 363.5 %².
Among the 40 assets we track against CDW, DOV ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DOV outperformed by 19.6 percentage points (-8.0% for CDW against +11.6% for DOV). Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.73. Risk is not evenly split, since CDW carries 1.5 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.
CDW vs DOV: side by side
| CDW (CDW Corporation) | DOV (Dover Corporation) | |
|---|---|---|
| 1-year return | -8.0% | +11.6% |
| 5-year return | -20.5% | +21.8% |
| Volatility (ann.) | 34.2% | 22.8% |
| Beta vs S&P 500 | 1.01 | 0.99 |
| Max drawdown (3Y) | -60.4% | -26.6% |
| Market cap | $18.6B | $27.2B |
| P/E (trailing) | 17.0 | 24.8 |
| Dividend yield | 1.78% | 1.02% |
| Sector / category | Information Technology | Industrials |
Year-by-year returns
| Year | CDW | DOV |
|---|---|---|
| 2022 | -11.7% | -24.3% |
| 2023 | +28.8% | +15.2% |
| 2024 | -22.6% | +23.3% |
| 2025 | -20.6% | +5.2% |
| 2026 | +11.1% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and DOV good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CDW and DOV?
The CDW/DOV correlation stands at 0.47 on a 3-year window (1 year: 0.32, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is DOV a good diversifier for CDW?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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/cdw-vs-dov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdw-vs-dov/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDW correlations · DOV correlations
