CTS vs DOV: Correlation
CTS Corporation (CTS) and Dover Corporation (DOV) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTS and DOV?
Over the past 3 years, CTS and DOV moved with a correlation of 0.70, which is strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 528.8 %².
Within CTS's tracked universe of 26 assets, DOV comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CTS outperformed by 24.2 percentage points (+35.8% for CTS against +11.6% for DOV).
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.
CTS vs DOV: side by side
| CTS (CTS Corporation) | DOV (Dover Corporation) | |
|---|---|---|
| 1-year return | +35.8% | +11.6% |
| 5-year return | +63.4% | +21.8% |
| Volatility (ann.) | 33.0% | 22.8% |
| Beta vs S&P 500 | 1.40 | 0.99 |
| Max drawdown (3Y) | -40.6% | -26.6% |
| Market cap | $1.6B | $27.2B |
| P/E (trailing) | 23.8 | 24.8 |
| Dividend yield | 0.28% | 1.02% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CTS | DOV |
|---|---|---|
| 2022 | +7.8% | -24.3% |
| 2023 | +11.4% | +15.2% |
| 2024 | +20.9% | +23.3% |
| 2025 | -18.4% | +5.2% |
| 2026 | +34.7% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTS and DOV good diversifiers for each other?
Only partially. A correlation of 0.70 means CTS 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 CTS and DOV?
The CTS/DOV correlation stands at 0.70 on a 3-year window (1 year: 0.64, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is DOV a good diversifier for CTS?
Only partially. A correlation of 0.70 means CTS 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 0.70 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/cts-vs-dov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cts-vs-dov/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTS correlations · DOV correlations
