DOV vs VMI: Correlation
How closely do Dover Corporation (DOV) and Valmont Industries, Inc. (VMI) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and VMI?
On 3 years of weekly data the DOV/VMI correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.53 over 3. The 5-year figure is 0.56, and annualized covariance runs at 384.3 %².
By 3-year correlation, VMI places #52 of the 78 assets tracked against DOV. Correlation aside, the last 12 months split them widely, with VMI ahead by 17.6 points (+11.6% versus +29.2%).
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 VMI: side by side
| DOV (Dover Corporation) | VMI (Valmont Industries, Inc.) | |
|---|---|---|
| 1-year return | +11.6% | +29.2% |
| 5-year return | +21.8% | +102.0% |
| Volatility (ann.) | 22.8% | 31.8% |
| Beta vs S&P 500 | 0.99 | 1.02 |
| Max drawdown (3Y) | -26.6% | -29.8% |
| Market cap | $27.2B | $9.3B |
| P/E (trailing) | 24.8 | 18.6 |
| Dividend yield | 1.02% | 0.61% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DOV | VMI |
|---|---|---|
| 2022 | -24.3% | +33.1% |
| 2023 | +15.2% | -28.7% |
| 2024 | +23.3% | +32.5% |
| 2025 | +5.2% | +32.2% |
| 2026 | +3.9% | +19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and VMI good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DOV and VMI?
As of 2026-08-27, the correlation of weekly returns between DOV and VMI is 0.53 over 3 years, 0.53 over 1 year and 0.56 over 5 years.
Is VMI a good diversifier for DOV?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dov-vs-vmi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-vmi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOV correlations · VMI correlations
