DOLE vs MVST: Correlation
How closely do Dole plc (DOLE) and Microvast Holdings, Inc. (MVST) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOLE and MVST?
Across a 3-year window, the weekly returns of DOLE and MVST correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.00 versus -0.28 over 3 years. Stretching to 5 years gives -0.15, with an annualized covariance of -1395.3 %².
MVST is close to the least connected end of DOLE's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with DOLE ahead by 65.7 points (-5.5% versus -71.2%). Risk is not evenly split, since MVST carries 8.6 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.
DOLE vs MVST: side by side
| DOLE (Dole plc) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | -5.5% | -71.2% |
| 5-year return | -3.9% | -91.6% |
| Volatility (ann.) | 24.2% | 209.2% |
| Beta vs S&P 500 | 0.28 | 0.26 |
| Max drawdown (3Y) | -27.7% | -92.8% |
| Market cap | $1.3B | $0.3B |
| P/E (trailing) | 18.5 | – |
| Dividend yield | 2.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DOLE | MVST |
|---|---|---|
| 2022 | -25.3% | -73.0% |
| 2023 | +30.8% | -8.5% |
| 2024 | +12.8% | +47.9% |
| 2025 | +12.0% | +35.3% |
| 2026 | -7.6% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOLE and MVST good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between DOLE and MVST?
The DOLE/MVST correlation stands at -0.28 on a 3-year window (1 year: -0.00, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is MVST a good diversifier for DOLE?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 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/dole-vs-mvst.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dole-vs-mvst/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOLE correlations · MVST correlations
