MMM vs. DOV

Last updated Jun 9, 2026

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

Performance

MMM vs. DOV - Performance Comparison

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

Returns By Period

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

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%

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%

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

MMM vs. DOV - Yearly Performance Comparison

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

Correlation

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

Fundamentals

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

Return for Risk

MMM vs. DOV — Risk / Return Rank

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

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

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

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.

MMM vs. DOV - Risk-Adjusted Trends Comparison

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

	MMM	DOV	Difference
Sharpe ratio: Return per unit of total volatility	0.30	0.91	-0.61
Sortino ratio: Return per unit of downside risk	0.61	1.55	-0.93
Omega ratio: Gain probability vs. loss probability	1.07	1.18	-0.10
Calmar ratio: Return relative to maximum drawdown	0.41	1.42	-1.01
Martin ratio: Return relative to average drawdown	0.92	3.27	-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.

MMM vs. DOV - Sharpe Ratio Comparison

The current MMM Sharpe Ratio is 0.30, which is lower than the DOV Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of MMM and DOV, 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

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

Drawdowns

MMM vs. DOV - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

MMM vs. DOV - Volatility Comparison

3M Company (MMM) has a higher volatility of 6.60% compared to Dover Corporation (DOV) at 5.74%. This indicates that MMM's price experiences larger fluctuations and is considered to be riskier than DOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

Dividends

MMM vs. DOV - Dividend Comparison

MMM's dividend yield for the trailing twelve months is around 1.96%, more than DOV's 0.96% 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

MMM vs. DOV - Profitability Comparison

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

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 - 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 - 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 - 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 - 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%.

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%.

Frequently Asked Questions

Can I hold both MMM and DOV in my portfolio?

MMM and DOV 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, MMM or DOV?

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

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.