DOV vs PH: Correlation
How closely do Dover Corporation (DOV) and Parker Hannifin (PH) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and PH?
Across a 3-year window, the weekly returns of DOV and PH correlate at 0.71, strong. The past 12 months show a weaker link (0.53) than the 3-year average (0.71). Stretching to 5 years gives 0.75, with an annualized covariance of 430.2 %².
Among the 78 assets we track against DOV, PH ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PH outperformed by 21.2 percentage points (+11.6% for DOV against +32.8% for PH). The rolling one-year correlation moved between 0.51 and 0.90 over the past three years, a moderate range.
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 PH: side by side
| DOV (Dover Corporation) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | +11.6% | +32.8% |
| 5-year return | +21.8% | +256.4% |
| Volatility (ann.) | 22.8% | 26.6% |
| Beta vs S&P 500 | 0.99 | 1.16 |
| Max drawdown (3Y) | -26.6% | -26.8% |
| Market cap | $27.2B | $127.5B |
| P/E (trailing) | 24.8 | 36.5 |
| Dividend yield | 1.02% | 0.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DOV | PH |
|---|---|---|
| 2022 | -24.3% | -6.9% |
| 2023 | +15.2% | +60.8% |
| 2024 | +23.3% | +39.6% |
| 2025 | +5.2% | +39.5% |
| 2026 | +3.9% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and PH good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DOV and PH?
The DOV/PH correlation stands at 0.71 on a 3-year window (1 year: 0.53, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is PH a good diversifier for DOV?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOV correlations · PH correlations
