DOV vs. LECO
DOV (Dover Corporation) and LECO (Lincoln Electric Holdings, Inc.) are both stocks. Both are in the Industrials sector — DOV in Specialty Industrial Machinery, LECO in Tools & Accessories. Over the past 10 years, DOV returned 16.36%/yr vs 17.79%/yr for LECO. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
DOV vs. LECO - Performance Comparison
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Returns By Period
In the year-to-date period, DOV achieves a 11.89% return, which is significantly higher than LECO's 8.12% return. Over the past 10 years, DOV has underperformed LECO with an annualized return of 16.36%, while LECO has yielded a comparatively higher 17.79% annualized return.
DOV
- 1D
- -0.50%
- 1M
- 1.56%
- YTD
- 11.89%
- 6M
- 9.71%
- 1Y
- 22.89%
- 3Y*
- 15.73%
- 5Y*
- 8.79%
- 10Y*
- 16.36%
LECO
- 1D
- 0.19%
- 1M
- -2.64%
- YTD
- 8.12%
- 6M
- 6.64%
- 1Y
- 28.05%
- 3Y*
- 11.30%
- 5Y*
- 16.64%
- 10Y*
- 17.79%
DOV vs. LECO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DOV Dover Corporation | 11.89% | 5.24% | 23.35% | 15.22% | -24.34% | 45.73% | 11.53% | 65.80% | -11.11% | 37.68% |
LECO Lincoln Electric Holdings, Inc. | 8.12% | 29.63% | -12.55% | 52.61% | 5.42% | 21.89% | 22.97% | 25.41% | -12.24% | 21.37% |
Correlation
The correlation between DOV and LECO is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 1995 | 0.52 |
The correlation between DOV and LECO shifts across timeframes, from 0.52 (all time) to 0.70 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
DOV:
$29.55B
LECO:
$14.29B
DOV:
$8.01
LECO:
$9.68
DOV:
27.14
LECO:
26.67
DOV:
1.12
LECO:
1.16
DOV:
3.61
LECO:
3.30
DOV:
3.95
LECO:
9.45
DOV:
$8.28B
LECO:
$4.35B
DOV:
$3.27B
LECO:
$1.57B
DOV:
$1.78B
LECO:
$807.88M
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Return for Risk
DOV vs. LECO — Risk / Return Rank
DOV
LECO
DOV vs. LECO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dover Corporation (DOV) and Lincoln Electric Holdings, Inc. (LECO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DOV | LECO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.40 | +0.10 |
| Martin ratioReturn relative to average drawdown | 3.42 | 3.68 | -0.26 |
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Drawdowns
DOV vs. LECO - Drawdown Comparison
The maximum DOV drawdown since its inception was -58.22%, smaller than the maximum LECO drawdown of -68.89%. Use the drawdown chart below to compare losses from any high point for DOV and LECO.
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Drawdown Indicators
| DOV | LECO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.22% | -68.89% | +10.67% |
Max Drawdown (1Y)Largest decline over 1 year | -15.34% | -20.09% | +4.75% |
Max Drawdown (3Y)Largest decline over 3 years | -26.59% | -34.29% | +7.70% |
Max Drawdown (5Y)Largest decline over 5 years | -35.56% | -34.29% | -1.27% |
Max Drawdown (10Y)Largest decline over 10 years | -45.24% | -38.89% | -6.35% |
Current DrawdownCurrent decline from peak | -6.36% | -13.31% | +6.95% |
Average DrawdownAverage peak-to-trough decline | -13.14% | -13.51% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.71% | 7.64% | -0.93% |
Volatility
DOV vs. LECO - Volatility Comparison
The current volatility for Dover Corporation (DOV) is 7.17%, while Lincoln Electric Holdings, Inc. (LECO) has a volatility of 8.61%. This indicates that DOV experiences smaller price fluctuations and is considered to be less risky than LECO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DOV | LECO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.17% | 8.61% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 18.33% | 20.20% | -1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.36% | 27.05% | -2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.87% | 26.66% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.75% | 27.43% | -0.68% |
Dividends
DOV vs. LECO - Dividend Comparison
DOV's dividend yield for the trailing twelve months is around 0.96%, less than LECO's 1.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DOV Dover Corporation | 0.96% | 1.06% | 1.09% | 1.32% | 1.48% | 1.10% | 1.56% | 1.68% | 2.55% | 1.80% | 2.30% | 2.67% |
LECO Lincoln Electric Holdings, Inc. | 1.19% | 1.27% | 1.54% | 1.21% | 1.61% | 1.50% | 1.70% | 1.96% | 2.08% | 1.57% | 1.71% | 2.29% |
Financials
DOV vs. LECO - Financials Comparison
This section allows you to compare key financial metrics between Dover Corporation and Lincoln Electric Holdings, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
DOV vs. LECO - Profitability Comparison
DOV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Dover Corporation reported a gross profit of 798.14M and revenue of 2.05B. Therefore, the gross margin over that period was 38.9%.
LECO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lincoln Electric Holdings, Inc. reported a gross profit of 399.13M and revenue of 1.12B. Therefore, the gross margin over that period was 35.6%.
DOV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Dover Corporation reported an operating income of 305.91M and revenue of 2.05B, resulting in an operating margin of 14.9%.
LECO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lincoln Electric Holdings, Inc. reported an operating income of 186.16M and revenue of 1.12B, resulting in an operating margin of 16.6%.
DOV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Dover Corporation reported a net income of 238.43M and revenue of 2.05B, resulting in a net margin of 11.6%.
LECO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lincoln Electric Holdings, Inc. reported a net income of 136.38M and revenue of 1.12B, resulting in a net margin of 12.2%.
Frequently Asked Questions
DOV and LECO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LECO has higher volatility (8.61%) compared to DOV (7.17%). In terms of maximum drawdown, DOV dropped -58.22% vs LECO's -68.89%.
LECO currently has the higher Sharpe Ratio (1.04 vs 0.94), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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