CSW vs DOV: Correlation
CSW Industrials, Inc. (CSW) and Dover Corporation (DOV) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSW and DOV?
Over the past 3 years, CSW and DOV moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 551.9 %².
Few assets follow CSW as closely as DOV, which ranks #1 of 12 tracked partners. On 12-month performance CSW holds a 6.8-point edge, +18.4% against +11.6%. Note the risk asymmetry: CSW runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CSW vs DOV: side by side
| CSW (CSW Industrials, Inc.) | DOV (Dover Corporation) | |
|---|---|---|
| 1-year return | +18.4% | +11.6% |
| 5-year return | +140.7% | +21.8% |
| Volatility (ann.) | 37.7% | 22.8% |
| Beta vs S&P 500 | 1.34 | 0.99 |
| Max drawdown (3Y) | -46.2% | -26.6% |
| Market cap | $5.2B | $27.2B |
| P/E (trailing) | 44.2 | 24.8 |
| Dividend yield | 0.34% | 1.02% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CSW | DOV |
|---|---|---|
| 2022 | -3.5% | -24.3% |
| 2023 | +79.8% | +15.2% |
| 2024 | +70.6% | +23.3% |
| 2025 | -16.5% | +5.2% |
| 2026 | +8.8% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSW and DOV good diversifiers for each other?
Only partially. A correlation of 0.64 means CSW and DOV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CSW and DOV?
The CSW/DOV correlation stands at 0.64 on a 3-year window (1 year: 0.67, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is DOV a good diversifier for CSW?
Only partially. A correlation of 0.64 means CSW and DOV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
A reading of 0.64 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/csw-vs-dov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/csw-vs-dov/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSW correlations · DOV correlations
