DOV vs KEX: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and Kirby Corporation (KEX) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and KEX?
Over the past 3 years, DOV and KEX moved with a correlation of 0.56, which is moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.56). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 430.2 %².
Within DOV's tracked universe of 78 assets, KEX comes in at #44 by 3-year correlation. The last year tells two different stories: KEX led by 30.7 percentage points, +11.6% for DOV against +42.3% for KEX.
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 KEX: side by side
| DOV (Dover Corporation) | KEX (Kirby Corporation) | |
|---|---|---|
| 1-year return | +11.6% | +42.3% |
| 5-year return | +21.8% | +160.1% |
| Volatility (ann.) | 22.8% | 33.9% |
| Beta vs S&P 500 | 0.99 | 1.08 |
| Max drawdown (3Y) | -26.6% | -38.8% |
| Market cap | $27.2B | $7.4B |
| P/E (trailing) | 24.8 | 21.5 |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DOV | KEX |
|---|---|---|
| 2022 | -24.3% | +8.3% |
| 2023 | +15.2% | +22.0% |
| 2024 | +23.3% | +34.8% |
| 2025 | +5.2% | +4.1% |
| 2026 | +3.9% | +26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and KEX good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DOV and KEX?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.30 over the last year and 0.53 over 5 years.
Is KEX a good diversifier for DOV?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
A reading of 0.56 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-kex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-kex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOV correlations · KEX correlations
