DOV vs GNRC: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and Generac (GNRC) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and GNRC?
Over the past 3 years, DOV and GNRC moved with a correlation of 0.47, which is moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.47 over 3. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 490.6 %².
Within DOV's tracked universe of 78 assets, GNRC comes in at #62 by 3-year correlation. Over the last 12 months DOV came out ahead by 6.1 percentage points (+11.6% against +5.5%). On a rolling one-year basis the correlation drifted between 0.23 and 0.67, a moderate band. Note the risk asymmetry: GNRC runs 2.0 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.
DOV vs GNRC: side by side
| DOV (Dover Corporation) | GNRC (Generac) | |
|---|---|---|
| 1-year return | +11.6% | +5.5% |
| 5-year return | +21.8% | -55.4% |
| Volatility (ann.) | 22.8% | 46.1% |
| Beta vs S&P 500 | 0.99 | 1.35 |
| Max drawdown (3Y) | -26.6% | -47.8% |
| Market cap | $27.2B | $11.6B |
| P/E (trailing) | 24.8 | 47.4 |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DOV | GNRC |
|---|---|---|
| 2022 | -24.3% | -71.4% |
| 2023 | +15.2% | +28.4% |
| 2024 | +23.3% | +20.0% |
| 2025 | +5.2% | -12.0% |
| 2026 | +3.9% | +44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and GNRC good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DOV and GNRC?
As of 2026-08-27, the correlation of weekly returns between DOV and GNRC is 0.47 over 3 years, 0.49 over 1 year and 0.46 over 5 years.
Is GNRC a good diversifier for DOV?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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/dov-vs-gnrc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dov-vs-gnrc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOV correlations · GNRC correlations
