DOV vs HRI: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and Herc Holdings Inc. (HRI) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and HRI?
Across a 3-year window, the weekly returns of DOV and HRI correlate at 0.61, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 754.1 %².
Within DOV's tracked universe of 78 assets, HRI comes in at #34 by 3-year correlation. On 12-month performance HRI holds a 7.3-point edge, +11.6% against +18.9%. Risk is not evenly split, since HRI carries 2.4 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.
DOV vs HRI: side by side
| DOV (Dover Corporation) | HRI (Herc Holdings Inc.) | |
|---|---|---|
| 1-year return | +11.6% | +18.9% |
| 5-year return | +21.8% | +27.3% |
| Volatility (ann.) | 22.8% | 54.2% |
| Beta vs S&P 500 | 0.99 | 1.68 |
| Max drawdown (3Y) | -26.6% | -60.9% |
| Market cap | $27.2B | $5.2B |
| P/E (trailing) | 24.8 | 92.0 |
| Dividend yield | 1.02% | 1.79% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DOV | HRI |
|---|---|---|
| 2022 | -24.3% | -14.4% |
| 2023 | +15.2% | +15.5% |
| 2024 | +23.3% | +29.4% |
| 2025 | +5.2% | -20.1% |
| 2026 | +3.9% | +5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and HRI good diversifiers for each other?
Only partially. A correlation of 0.61 means DOV and HRI 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 HRI?
The DOV/HRI correlation stands at 0.61 on a 3-year window (1 year: 0.62, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is HRI a good diversifier for DOV?
Only partially. A correlation of 0.61 means DOV and HRI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 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/dov-vs-hri.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-hri/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOV correlations · HRI correlations
