DOV vs. MMM

Last updated Jun 9, 2026

DOV (Dover Corporation) and MMM (3M Company) are both stocks. Both are in the Industrials sector — DOV in Specialty Industrial Machinery, MMM in Conglomerates. Over the past 10 years, DOV returned 16.12%/yr vs 4.22%/yr for MMM. At a 0.45 correlation, their price movements are largely independent.

Performance

DOV vs. MMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dover Corporation (DOV) and 3M Company (MMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOV achieves a 11.26% return, which is significantly higher than MMM's -2.97% return. Over the past 10 years, DOV has outperformed MMM with an annualized return of 16.12%, while MMM has yielded a comparatively lower 4.22% annualized return.

DOV

• 1D: 0.67%
• 1M: -1.41%
• YTD: 11.26%
• 6M: 13.56%
• 1Y: 21.73%
• 3Y*: 16.60%
• 5Y*: 8.83%
• 10Y*: 16.12%

MMM

• 1D: 0.06%
• 1M: 7.92%
• YTD: -2.97%
• 6M: -5.26%
• 1Y: 7.72%
• 3Y*: 26.44%
• 5Y*: 1.64%
• 10Y*: 4.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DOV vs. MMM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DOV Dover Corporation	11.26%	5.24%	23.35%	15.22%	-24.34%	45.73%	11.53%	65.80%	-11.11%	37.68%
MMM 3M Company	-2.97%	26.36%	46.13%	-3.33%	-29.63%	4.85%	2.77%	-4.29%	-16.90%	34.90%

Correlation

The correlation between DOV and MMM is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jul 2, 1985	0.45

The correlation between DOV and MMM shifts across timeframes, from 0.45 (all time) to 0.57 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap DOV : $29.38B MMM : $81.97B
EPS DOV : $8.01 MMM : $5.17
PE Ratio DOV : 26.98 MMM : 29.78
PS Ratio DOV : 3.59 MMM : 3.32
PB Ratio DOV : 3.92 MMM : 25.12
Total Revenue (TTM) DOV : $8.28B MMM : $25.02B
Gross Profit (TTM) DOV : $3.27B MMM : $9.89B
EBITDA (TTM) DOV : $1.78B MMM : $5.28B

Return for Risk

DOV vs. MMM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DOV

DOV Risk / Return Rank: 68
DOV Sharpe Ratio Rank: 70
DOV Sortino Ratio Rank: 67
DOV Omega Ratio Rank: 63
DOV Calmar Ratio Rank: 69
DOV Martin Ratio Rank: 69

MMM

MMM Risk / Return Rank: 50
MMM Sharpe Ratio Rank: 53
MMM Sortino Ratio Rank: 47
MMM Omega Ratio Rank: 45
MMM Calmar Ratio Rank: 52
MMM Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DOV vs. MMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dover Corporation (DOV) and 3M Company (MMM). 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.

	DOV	MMM	Difference
Sharpe ratio: Return per unit of total volatility	0.91	0.30	+0.61
Sortino ratio: Return per unit of downside risk	1.55	0.61	+0.93
Omega ratio: Gain probability vs. loss probability	1.18	1.07	+0.10
Calmar ratio: Return relative to maximum drawdown	1.42	0.41	+1.01
Martin ratio: Return relative to average drawdown	3.27	0.92	+2.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DOV vs. MMM - Sharpe Ratio Comparison

The current DOV Sharpe Ratio is 0.91, which is higher than the MMM Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of DOV and MMM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DOV	MMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	0.30	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.06	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.16	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.34	+0.11

Drawdowns

DOV vs. MMM - Drawdown Comparison

The maximum DOV drawdown since its inception was -58.22%, roughly equal to the maximum MMM drawdown of -59.10%. Use the drawdown chart below to compare losses from any high point for DOV and MMM.

Drawdown Indicators

	DOV	MMM	Difference
Max Drawdown Largest peak-to-trough decline	-58.22%	-59.10%	+0.88%
Max Drawdown (1Y) Largest decline over 1 year	-15.34%	-18.77%	+3.43%
Max Drawdown (3Y) Largest decline over 3 years	-26.59%	-22.87%	-3.72%
Max Drawdown (5Y) Largest decline over 5 years	-35.56%	-53.41%	+17.85%
Max Drawdown (10Y) Largest decline over 10 years	-45.24%	-59.10%	+13.86%
Current Drawdown Current decline from peak	-6.90%	-11.04%	+4.14%
Average Drawdown Average peak-to-trough decline	-13.14%	-16.11%	+2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.67%	8.41%	-1.74%

Volatility

DOV vs. MMM - Volatility Comparison

The current volatility for Dover Corporation (DOV) is 5.74%, while 3M Company (MMM) has a volatility of 6.60%. This indicates that DOV experiences smaller price fluctuations and is considered to be less risky than MMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOV	MMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	6.60%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	17.99%	19.32%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	24.02%	26.01%	-1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.80%	28.30%	-3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.74%	26.54%	+0.20%

Dividends

DOV vs. MMM - Dividend Comparison

DOV's dividend yield for the trailing twelve months is around 0.96%, less than MMM's 1.96% 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%
MMM 3M Company	1.96%	1.82%	16.27%	5.49%	4.97%	3.33%	3.36%	3.26%	2.86%	2.00%	2.49%	2.72%

Financials

DOV vs. MMM - Profitability Comparison

The chart below illustrates the profitability comparison between Dover Corporation and 3M Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

MMM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, 3M Company reported a gross profit of 2.46B and revenue of 6.03B. Therefore, the gross margin over that period was 40.7%.

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%.

MMM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, 3M Company reported an operating income of 1.40B and revenue of 6.03B, resulting in an operating margin of 23.2%.

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%.

MMM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, 3M Company reported a net income of 653.00M and revenue of 6.03B, resulting in a net margin of 10.8%.

Frequently Asked Questions

Can I hold both DOV and MMM in my portfolio?

DOV and MMM have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOV or MMM?

MMM has higher volatility (6.60%) compared to DOV (5.74%). In terms of maximum drawdown, DOV dropped -58.22% vs MMM's -59.10%.

Which has better risk-adjusted returns?

DOV currently has the higher Sharpe Ratio (0.91 vs 0.30), 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.