DOV vs RSP: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and RSP?
On 3 years of weekly data the DOV/RSP correlation comes out at 0.74, strong. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.74 over 3 years. The 5-year figure is 0.76, and annualized covariance runs at 223.4 %².
RSP is one of the assets that tracks DOV most closely: it ranks #3 out of the 78 assets we track against DOV. The trailing year gives RSP the advantage: +11.6% versus +19.2%, a 7.6-point spread. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.43 to 0.93. One caveat on sizing: DOV is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RSP: side by side
| DOV (Dover Corporation) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +11.6% | +19.2% |
| 5-year return | +21.8% | +53.9% |
| Volatility (ann.) | 22.8% | 13.2% |
| Beta vs S&P 500 | 0.99 | 0.77 |
| Max drawdown (3Y) | -26.6% | -17.8% |
| Market cap | $27.2B | – |
| P/E (trailing) | 24.8 | – |
| Dividend yield | 1.02% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Industrials | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | DOV | RSP |
|---|---|---|
| 2022 | -24.3% | -11.6% |
| 2023 | +15.2% | +13.7% |
| 2024 | +23.3% | +12.8% |
| 2025 | +5.2% | +11.2% |
| 2026 | +3.9% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.18% of RSP is DOV itself, so the fund partly moves with the stock by construction.
Are DOV and RSP good diversifiers for each other?
Only partially. A correlation of 0.74 means DOV and RSP 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 RSP?
The DOV/RSP correlation stands at 0.74 on a 3-year window (1 year: 0.41, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for DOV?
Only partially. A correlation of 0.74 means DOV and RSP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dov-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOV correlations · RSP correlations
