DOV vs QQQ: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and Invesco QQQ Trust (QQQ) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and QQQ?
On 3 years of weekly data the DOV/QQQ correlation comes out at 0.51, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.51). The 5-year figure is 0.57, and annualized covariance runs at 228.8 %².
Among the 78 assets we track against DOV, QQQ ranks #54 by 3-year correlation. Over the last 12 months QQQ came out ahead by 14.7 percentage points (+11.6% against +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.11 and 0.81 over the past three years, so this pair behaves very differently depending on the market environment.
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 QQQ: side by side
| DOV (Dover Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +11.6% | +26.3% |
| 5-year return | +21.8% | +95.4% |
| Volatility (ann.) | 22.8% | 19.6% |
| Beta vs S&P 500 | 0.99 | 1.28 |
| Max drawdown (3Y) | -26.6% | -22.8% |
| Market cap | $27.2B | – |
| P/E (trailing) | 24.8 | – |
| Dividend yield | 1.02% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | DOV | QQQ |
|---|---|---|
| 2022 | -24.3% | -32.6% |
| 2023 | +15.2% | +54.9% |
| 2024 | +23.3% | +25.6% |
| 2025 | +5.2% | +20.8% |
| 2026 | +3.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and QQQ good diversifiers for each other?
Only partially. A correlation of 0.51 means DOV and QQQ 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 QQQ?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.16 over the last year and 0.57 over 5 years.
Is QQQ a good diversifier for DOV?
Only partially. A correlation of 0.51 means DOV and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 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
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Related comparisons
Hubs: DOV correlations · QQQ correlations
