DOV vs NDSN: Correlation
How closely do Dover Corporation (DOV) and Nordson Corporation (NDSN) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and NDSN?
Over the past 3 years, DOV and NDSN moved with a correlation of 0.62, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.62 over 3 years. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 351.2 %².
Among the 78 assets we track against DOV, NDSN ranks #30 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NDSN outperformed by 36.9 percentage points (+11.6% for DOV against +48.5% for NDSN). The link looks structural: the rolling one-year correlation barely moved, holding between 0.54 and 0.78.
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 NDSN: side by side
| DOV (Dover Corporation) | NDSN (Nordson Corporation) | |
|---|---|---|
| 1-year return | +11.6% | +48.5% |
| 5-year return | +21.8% | +46.5% |
| Volatility (ann.) | 22.8% | 24.7% |
| Beta vs S&P 500 | 0.99 | 0.97 |
| Max drawdown (3Y) | -26.6% | -39.1% |
| Market cap | $27.2B | $18.4B |
| P/E (trailing) | 24.8 | 33.5 |
| Dividend yield | 1.02% | 0.98% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DOV | NDSN |
|---|---|---|
| 2022 | -24.3% | -5.9% |
| 2023 | +15.2% | +12.4% |
| 2024 | +23.3% | -20.1% |
| 2025 | +5.2% | +17.0% |
| 2026 | +3.9% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and NDSN good diversifiers for each other?
To a limited degree. At 0.62 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 NDSN?
The DOV/NDSN correlation stands at 0.62 on a 3-year window (1 year: 0.46, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is NDSN a good diversifier for DOV?
To a limited degree. At 0.62 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 0.62 mean?
A reading of 0.62 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-ndsn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dov-vs-ndsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOV correlations · NDSN correlations
