DOV vs LICN: Correlation
How closely do Dover Corporation (DOV) and Lichen International Limited - Class A (LICN) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and LICN?
On 3 years of weekly data the DOV/LICN correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.07) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -33698.0 %².
By 3-year correlation, LICN places #70 of the 78 assets tracked against DOV. Correlation aside, the last 12 months split them widely, with DOV ahead by 86.3 points (+11.6% versus -74.7%). Note the risk asymmetry: LICN runs 374.0 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 LICN: side by side
| DOV (Dover Corporation) | LICN (Lichen International Limited - Class A) | |
|---|---|---|
| 1-year return | +11.6% | -74.7% |
| 5-year return | +21.8% | n/a |
| Volatility (ann.) | 22.8% | 8528.0% |
| Beta vs S&P 500 | 0.99 | -80.22 |
| Max drawdown (3Y) | -26.6% | -98.4% |
| Market cap | $27.2B | – |
| P/E (trailing) | 24.8 | – |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DOV | LICN |
|---|---|---|
| 2022 | -24.3% | – |
| 2023 | +15.2% | – |
| 2024 | +23.3% | -91.0% |
| 2025 | +5.2% | +1484.3% |
| 2026 | +3.9% | -56.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and LICN good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DOV and LICN?
As of 2026-08-27, the correlation of weekly returns between DOV and LICN is -0.17 over 3 years, -0.07 over 1 year and n/a over 5 years.
Is LICN a good diversifier for DOV?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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-licn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-licn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOV correlations · LICN correlations
