DAL vs DOV: Correlation
Delta Air Lines (DAL) and Dover Corporation (DOV) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAL and DOV?
On 3 years of weekly data the DAL/DOV correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.54 over 3. The 5-year figure is 0.53, and annualized covariance runs at 455.9 %².
Within DAL's tracked universe of 33 assets, DOV comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DAL ahead by 22.3 points (+33.9% versus +11.6%). Across three years, the rolling one-year figure varied moderately, from 0.32 to 0.71. Risk is not evenly split, since DAL carries 1.6 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.
DAL vs DOV: side by side
| DAL (Delta Air Lines) | DOV (Dover Corporation) | |
|---|---|---|
| 1-year return | +33.9% | +11.6% |
| 5-year return | +110.6% | +21.8% |
| Volatility (ann.) | 37.1% | 22.8% |
| Beta vs S&P 500 | 1.17 | 0.99 |
| Max drawdown (3Y) | -47.9% | -26.6% |
| Market cap | – | $27.2B |
| P/E (trailing) | 13.8 | 24.8 |
| Dividend yield | 0.94% | 1.02% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DAL | DOV |
|---|---|---|
| 2022 | -15.9% | -24.3% |
| 2023 | +23.0% | +15.2% |
| 2024 | +52.0% | +23.3% |
| 2025 | +16.1% | +5.2% |
| 2026 | +17.8% | +3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAL and DOV good diversifiers for each other?
To a limited degree. At 0.54 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 DAL and DOV?
As of 2026-08-27, the correlation of weekly returns between DAL and DOV is 0.54 over 3 years, 0.45 over 1 year and 0.53 over 5 years.
Is DOV a good diversifier for DAL?
To a limited degree. At 0.54 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 0.54 mean?
A reading of 0.54 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/dal-vs-dov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dal-vs-dov/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DAL correlations · DOV correlations
