DOV vs VTV: Correlation
How closely do Dover Corporation (DOV) and Vanguard Value ETF (VTV) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and VTV?
On 3 years of weekly data the DOV/VTV correlation comes out at 0.74, strong. The past 12 months show a weaker link (0.45) than the 3-year average (0.74). The 5-year figure is 0.72, and annualized covariance runs at 199.8 %².
By 3-year correlation, VTV places #4 of the 78 assets tracked against DOV. The trailing year gives VTV the advantage: +11.6% versus +25.7%, a 14.1-point spread. The rolling one-year correlation moved between 0.48 and 0.91 over the past three years, a moderate range. Note the risk asymmetry: DOV runs 1.9 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 VTV: side by side
| DOV (Dover Corporation) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +11.6% | +25.7% |
| 5-year return | +21.8% | +79.1% |
| Volatility (ann.) | 22.8% | 11.9% |
| Beta vs S&P 500 | 0.99 | 0.65 |
| Max drawdown (3Y) | -26.6% | -14.5% |
| Market cap | $27.2B | – |
| P/E (trailing) | 24.8 | – |
| Dividend yield | 1.02% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | Industrials | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | DOV | VTV |
|---|---|---|
| 2022 | -24.3% | -2.1% |
| 2023 | +15.2% | +9.3% |
| 2024 | +23.3% | +16.0% |
| 2025 | +5.2% | +15.3% |
| 2026 | +3.9% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VTV holds DOV at a 0.1% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are DOV and VTV good diversifiers for each other?
Only partially. A correlation of 0.74 means DOV and VTV 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 VTV?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.45 over the last year and 0.72 over 5 years.
Is VTV a good diversifier for DOV?
Only partially. A correlation of 0.74 means DOV and VTV 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?
A reading of 0.74 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-vtv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dov-vs-vtv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DOV correlations · VTV correlations
