DOV vs VYM: Correlation
Measured on weekly returns over the past three years, Dover Corporation (DOV) and Vanguard High Dividend Yield ETF (VYM) 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 VYM?
Across a 3-year window, the weekly returns of DOV and VYM correlate at 0.74, strong. The past 12 months show a weaker link (0.46) than the 3-year average (0.74). Stretching to 5 years gives 0.72, with an annualized covariance of 205.7 %².
Among the 78 assets we track against DOV, VYM ranks #5 by 3-year correlation. Over the last 12 months VYM came out ahead by 9.5 percentage points (+11.6% against +21.1%). Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.92. Risk is not evenly split, since DOV carries 1.9 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 VYM: side by side
| DOV (Dover Corporation) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +11.6% | +21.1% |
| 5-year return | +21.8% | +76.6% |
| Volatility (ann.) | 22.8% | 12.3% |
| Beta vs S&P 500 | 0.99 | 0.69 |
| Max drawdown (3Y) | -26.6% | -14.5% |
| Market cap | $27.2B | – |
| P/E (trailing) | 24.8 | – |
| Dividend yield | 1.02% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | Industrials | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | DOV | VYM |
|---|---|---|
| 2022 | -24.3% | -0.4% |
| 2023 | +15.2% | +6.6% |
| 2024 | +23.3% | +17.6% |
| 2025 | +5.2% | +15.4% |
| 2026 | +3.9% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and VYM good diversifiers for each other?
Only partially. A correlation of 0.74 means DOV and VYM 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 VYM?
As of 2026-08-27, the correlation of weekly returns between DOV and VYM is 0.74 over 3 years, 0.46 over 1 year and 0.72 over 5 years.
Is VYM a good diversifier for DOV?
Only partially. A correlation of 0.74 means DOV and VYM 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.
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Hubs: DOV correlations · VYM correlations
