DOV vs IR: Correlation
Dover Corporation (DOV) and Ingersoll Rand (IR) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and IR?
On 3 years of weekly data the DOV/IR correlation comes out at 0.72, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 492.5 %².
Within DOV's tracked universe of 78 assets, IR comes in at #8 by 3-year correlation. Over the last 12 months DOV came out ahead by 13.6 percentage points (+11.6% against -2.0%). Across three years, the rolling one-year figure varied moderately, from 0.53 to 0.84.
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 IR: side by side
| DOV (Dover Corporation) | IR (Ingersoll Rand) | |
|---|---|---|
| 1-year return | +11.6% | -2.0% |
| 5-year return | +21.8% | +49.2% |
| Volatility (ann.) | 22.8% | 29.8% |
| Beta vs S&P 500 | 0.99 | 1.17 |
| Max drawdown (3Y) | -26.6% | -36.6% |
| Market cap | $27.2B | $30.6B |
| P/E (trailing) | 24.8 | 32.6 |
| Dividend yield | 1.02% | 0.15% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DOV | IR |
|---|---|---|
| 2022 | -24.3% | -15.4% |
| 2023 | +15.2% | +48.2% |
| 2024 | +23.3% | +17.1% |
| 2025 | +5.2% | -12.3% |
| 2026 | +3.9% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and IR good diversifiers for each other?
Only partially. A correlation of 0.72 means DOV and IR 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 IR?
The DOV/IR correlation stands at 0.72 on a 3-year window (1 year: 0.66, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is IR a good diversifier for DOV?
Only partially. A correlation of 0.72 means DOV and IR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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-ir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-ir/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DOV correlations · IR correlations
