DOV vs VXX: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.58, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and VXX?
Over the past 3 years, DOV and VXX moved with a correlation of -0.58, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.31 versus -0.58 over 3 years. Over 5 years the correlation is -0.55, and the annualized covariance of weekly returns is -807.0 %².
VXX is close to the least connected end of DOV's tracked universe, ranking #78 of 78. The last year tells two different stories: DOV led by 61.3 percentage points, +11.6% for DOV against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.7 times the volatility of the other side.
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 VXX: side by side
| DOV (Dover Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.6% | -49.7% |
| 5-year return | +21.8% | -95.6% |
| Volatility (ann.) | 22.8% | 60.9% |
| Beta vs S&P 500 | 0.99 | -3.31 |
| Max drawdown (3Y) | -26.6% | -83.3% |
| 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 | VXX |
|---|---|---|
| 2022 | -24.3% | -23.8% |
| 2023 | +15.2% | -72.5% |
| 2024 | +23.3% | -26.2% |
| 2025 | +5.2% | -42.2% |
| 2026 | +3.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.58 means the two rarely move for the same reasons.
FAQ
What is the correlation between DOV and VXX?
As of 2026-08-27, the correlation of weekly returns between DOV and VXX is -0.58 over 3 years, -0.31 over 1 year and -0.55 over 5 years.
Is VXX a good diversifier for DOV?
By historical standards, yes. A correlation of -0.58 means the two rarely move for the same reasons.
What does a correlation of -0.58 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-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DOV correlations · VXX correlations
