DOV vs WAB: Correlation
How closely do Dover Corporation (DOV) and Wabtec (WAB) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOV and WAB?
Across a 3-year window, the weekly returns of DOV and WAB correlate at 0.62, strong. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.62). Stretching to 5 years gives 0.66, with an annualized covariance of 355.2 %².
Among the 78 assets we track against DOV, WAB ranks #32 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WAB outperformed by 41.3 percentage points (+11.6% for DOV against +52.9% for WAB). On a rolling one-year basis the correlation drifted between 0.33 and 0.83, a moderate band.
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 WAB: side by side
| DOV (Dover Corporation) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +11.6% | +52.9% |
| 5-year return | +21.8% | +241.0% |
| Volatility (ann.) | 22.8% | 25.3% |
| Beta vs S&P 500 | 0.99 | 0.99 |
| Max drawdown (3Y) | -26.6% | -23.6% |
| Market cap | $27.2B | $50.2B |
| P/E (trailing) | 24.8 | 40.5 |
| Dividend yield | 1.02% | 0.37% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | DOV | WAB |
|---|---|---|
| 2022 | -24.3% | +9.1% |
| 2023 | +15.2% | +28.0% |
| 2024 | +23.3% | +50.1% |
| 2025 | +5.2% | +13.2% |
| 2026 | +3.9% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOV and WAB good diversifiers for each other?
To a limited degree. At 0.62 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 WAB?
As of 2026-08-27, the correlation of weekly returns between DOV and WAB is 0.62 over 3 years, 0.31 over 1 year and 0.66 over 5 years.
Is WAB a good diversifier for DOV?
To a limited degree. At 0.62 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 0.62 mean?
A reading of 0.62 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-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dov-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOV correlations · WAB correlations
