The rheological properties of wheat doughs prepared from different flour types, water contents, and mixing times for a total of 20 dough systems were studied. The results were compared with the results of standard baking tests with the same factors. Water and flour type had a significant effect on storage modulus (G′) or phase angle measured by an oscillatory test both in the linear viscoelastic region and as a function of stress, and on compressional force measured as a function of time. The correlation of maximum force of dough in compression and G′ of dough measured within the linear viscoelastic region was r = 0.80. Correlation between the compression and oscillation test improved when all measuring points of the G′ stress curve were included (r = 0.88). The baking performance of the different doughs varied greatly; loaf volumes ranged from 2.9 to 4.7 mL/g. Although the water content of the dough correlated with the rheological measurements, the correlation of G′measured in the linear viscoelastic region or maximum force from stress‐time curve during compression was poor for bread loaf volumes. Mixing time from 4.5 to 15.5 min did not affect the rheological measurements. No correlation was observed with the maximum force of compression or G′ of dough measured in the linear viscoelastic region and baking performance. Good correlation of rheological measurements of doughs and baking performance was obtained when all the data points from force‐time curve and whole stress sweep (G′ as a function of stress) were evaluated with multivariate partial least squares regression. Correlation of all data points with loaf volume was r = 0.81 and 0.72, respectively, in compression and shear oscillation.