DOV vs TXT: Correlation
Dover Corporation (DOV) and Textron (TXT) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and TXT?
On 3 years of weekly data the DOV/TXT correlation comes out at 0.59, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.59 over 3 years. The 5-year figure is 0.60, and annualized covariance runs at 340.2 %².
Among the 78 assets we track against DOV, TXT ranks #39 by 3-year correlation. The trailing year gives DOV the advantage: +11.6% versus +0.7%, a 10.9-point spread. This link changes with the market regime, having swung between 0.19 and 0.83 on a rolling one-year basis.
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 TXT: side by side
| DOV (Dover Corporation) | TXT (Textron) | |
|---|---|---|
| 1-year return | +11.6% | +0.7% |
| 5-year return | +21.8% | +15.1% |
| Volatility (ann.) | 22.8% | 25.4% |
| Beta vs S&P 500 | 0.99 | 0.89 |
| Max drawdown (3Y) | -26.6% | -37.3% |
| Market cap | $27.2B | $14.2B |
| P/E (trailing) | 24.8 | 15.7 |
| Dividend yield | 1.02% | 0.10% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DOV | TXT |
|---|---|---|
| 2022 | -24.3% | -8.2% |
| 2023 | +15.2% | +13.7% |
| 2024 | +23.3% | -4.8% |
| 2025 | +5.2% | +14.1% |
| 2026 | +3.9% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and TXT good diversifiers for each other?
Only partially. A correlation of 0.59 means DOV and TXT 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 TXT?
As of 2026-08-27, the correlation of weekly returns between DOV and TXT is 0.59 over 3 years, 0.38 over 1 year and 0.60 over 5 years.
Is TXT a good diversifier for DOV?
Only partially. A correlation of 0.59 means DOV and TXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 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-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOV correlations · TXT correlations
