DOV vs KALU: Correlation
How closely do Dover Corporation (DOV) and Kaiser Aluminum Corporation (KALU) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and KALU?
Over the past 3 years, DOV and KALU moved with a correlation of 0.63, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.47 versus 0.63 over 3 years. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 668.4 %².
By 3-year correlation, KALU places #28 of the 78 assets tracked against DOV. The last year tells two different stories: KALU led by 92.2 percentage points, +11.6% for DOV against +103.8% for KALU. Note the risk asymmetry: KALU 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 KALU: side by side
| DOV (Dover Corporation) | KALU (Kaiser Aluminum Corporation) | |
|---|---|---|
| 1-year return | +11.6% | +103.8% |
| 5-year return | +21.8% | +51.7% |
| Volatility (ann.) | 22.8% | 46.6% |
| Beta vs S&P 500 | 0.99 | 1.72 |
| Max drawdown (3Y) | -26.6% | -48.9% |
| Market cap | $27.2B | $2.6B |
| P/E (trailing) | 24.8 | 11.6 |
| Dividend yield | 1.02% | 1.98% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DOV | KALU |
|---|---|---|
| 2022 | -24.3% | -16.2% |
| 2023 | +15.2% | -2.1% |
| 2024 | +23.3% | +2.7% |
| 2025 | +5.2% | +70.1% |
| 2026 | +3.9% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and KALU good diversifiers for each other?
Only partially. A correlation of 0.63 means DOV and KALU 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 KALU?
As of 2026-08-27, the correlation of weekly returns between DOV and KALU is 0.63 over 3 years, 0.47 over 1 year and 0.61 over 5 years.
Is KALU a good diversifier for DOV?
Only partially. A correlation of 0.63 means DOV and KALU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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-kalu.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dov-vs-kalu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOV correlations · KALU correlations
