DOV vs FTV: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and Fortive (FTV) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and FTV?
On 3 years of weekly data the DOV/FTV correlation comes out at 0.66, strong. The link has loosened recently: the 1-year correlation (0.50) runs below the 3-year figure (0.66). The 5-year figure is 0.69, and annualized covariance runs at 356.7 %².
Among the 78 assets we track against DOV, FTV ranks #18 by 3-year correlation. On 12-month performance FTV holds a 12.3-point edge, +11.6% against +23.9%. Across three years, the rolling one-year figure varied moderately, from 0.50 to 0.80.
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.
DOV vs FTV: side by side
| DOV (Dover Corporation) | FTV (Fortive) | |
|---|---|---|
| 1-year return | +11.6% | +23.9% |
| 5-year return | +21.8% | +9.6% |
| Volatility (ann.) | 22.8% | 23.8% |
| Beta vs S&P 500 | 0.99 | 0.92 |
| Max drawdown (3Y) | -26.6% | -28.0% |
| Market cap | $27.2B | $18.1B |
| P/E (trailing) | 24.8 | 31.9 |
| Dividend yield | 1.02% | 0.20% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DOV | FTV |
|---|---|---|
| 2022 | -24.3% | -15.4% |
| 2023 | +15.2% | +15.1% |
| 2024 | +23.3% | +2.3% |
| 2025 | +5.2% | -1.9% |
| 2026 | +3.9% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and FTV good diversifiers for each other?
Only partially. A correlation of 0.66 means DOV and FTV 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 DOV and FTV?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.50 over the last year and 0.69 over 5 years.
Is FTV a good diversifier for DOV?
Only partially. A correlation of 0.66 means DOV and FTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dov-vs-ftv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-ftv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOV correlations · FTV correlations
