CNM vs DOV: Correlation
How closely do Core & Main, Inc. (CNM) and Dover Corporation (DOV) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNM and DOV?
Across a 3-year window, the weekly returns of CNM and DOV correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 520.7 %².
Few assets follow CNM as closely as DOV, which ranks #3 of 17 tracked partners. The last year tells two different stories: DOV led by 45.1 percentage points, -33.5% for CNM against +11.6% for DOV. Risk is not evenly split, since CNM carries 1.7 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.
CNM vs DOV: side by side
| CNM (Core & Main, Inc.) | DOV (Dover Corporation) | |
|---|---|---|
| 1-year return | -33.5% | +11.6% |
| 5-year return | +63.1% | +21.8% |
| Volatility (ann.) | 39.7% | 22.8% |
| Beta vs S&P 500 | 1.19 | 0.99 |
| Max drawdown (3Y) | -38.7% | -26.6% |
| Market cap | $8.5B | $27.2B |
| P/E (trailing) | 18.4 | 24.8 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CNM | DOV |
|---|---|---|
| 2022 | -36.4% | -24.3% |
| 2023 | +109.3% | +15.2% |
| 2024 | +26.0% | +23.3% |
| 2025 | +2.1% | +5.2% |
| 2026 | -15.8% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNM and DOV good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CNM and DOV?
As of 2026-08-27, the correlation of weekly returns between CNM and DOV is 0.58 over 3 years, 0.55 over 1 year and 0.55 over 5 years.
Is DOV a good diversifier for CNM?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 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/cnm-vs-dov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnm-vs-dov/)
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Related comparisons
Hubs: CNM correlations · DOV correlations
