DOV vs RETO: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and ReTo Eco-Solutions, Inc. - Class A Shares (RETO) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and RETO?
On 3 years of weekly data the DOV/RETO correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.01 versus -0.16 over 3 years. The 5-year figure is -0.08, and annualized covariance runs at -1446.8 %².
Within DOV's tracked universe of 78 assets, RETO comes in at #69 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DOV ahead by 107.9 points (+11.6% versus -96.3%). Note the risk asymmetry: RETO runs 17.5 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 RETO: side by side
| DOV (Dover Corporation) | RETO (ReTo Eco-Solutions, Inc. - Class A Shares) | |
|---|---|---|
| 1-year return | +11.6% | -96.3% |
| 5-year return | +21.8% | -100.0% |
| Volatility (ann.) | 22.8% | 399.9% |
| Beta vs S&P 500 | 0.99 | -2.83 |
| Max drawdown (3Y) | -26.6% | -99.5% |
| 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 | RETO |
|---|---|---|
| 2022 | -24.3% | -75.9% |
| 2023 | +15.2% | -99.1% |
| 2024 | +23.3% | -74.9% |
| 2025 | +5.2% | -57.1% |
| 2026 | +3.9% | -81.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and RETO good diversifiers for each other?
Yes. With a correlation of -0.16, DOV and RETO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DOV and RETO?
The DOV/RETO correlation stands at -0.16 on a 3-year window (1 year: 0.01, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is RETO a good diversifier for DOV?
Yes. With a correlation of -0.16, DOV and RETO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
A reading of -0.16 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-reto.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-reto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOV correlations · RETO correlations
