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AWK vs NVDA: Correlation

How closely do American Water Works (AWK) and Nvidia (NVDA) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.

Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology

Correlation (3Y)
-0.23
negative
Correlation (1Y)
-0.40
last 12 months
Correlation (5Y)
0.06
long-run
Ann. covariance
-208.5
%² · weekly, annualized

How correlated are AWK and NVDA?

On 3 years of weekly data the AWK/NVDA correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.23). The 5-year figure is 0.06, and annualized covariance runs at -208.5 %².

Within AWK's tracked universe of 49 assets, NVDA comes in at #35 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NVDA outperformed by 28.7 percentage points (-3.0% for AWK against +25.7% for NVDA). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.48 to 0.38. One caveat on sizing: NVDA is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.

+1.0+0.50-0.5-1.020232026-08-27
Rolling one-year correlation of weekly returns over the past three years.
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.

AWK vs NVDA: side by side

AWK (American Water Works)NVDA (Nvidia)
1-year return-3.0%+25.7%
5-year return-16.6%+908.3%
Volatility (ann.)20.7%44.5%
Beta vs S&P 500-0.112.18
Max drawdown (3Y)-18.8%-36.9%
Market cap$27.2B$5,505.0B
P/E (trailing)23.732.2
Dividend yield2.46%0.00%
Sector / categoryUtilitiesInformation Technology
Lower P/E: AWK 23.7 vs 32.2Higher yield: AWK 2.46% vs 0.00%Smaller drawdown: AWK -18.8% vs -36.9%Higher 5y return: NVDA +908.3% vs -16.6%
-13%0%+37%2025-09-052026-08-27
Both assets over the last year, indexed to 100 at the starting week. ■ AWK · ■ NVDA

Year-by-year returns

YearAWKNVDA
2022-17.9%-50.3%
2023-11.7%+239.0%
2024-3.5%+171.2%
2025+7.4%+38.9%
2026+6.9%+22.4%

Calendar-year price returns; the current year is year-to-date as of the data date above.

Are AWK and NVDA good diversifiers for each other?

Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.

FAQ

What is the correlation between AWK and NVDA?

Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.40 over the last year and 0.06 over 5 years.

Is NVDA a good diversifier for AWK?

Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.

What does a correlation of -0.23 mean?

A reading of -0.23 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

JSON API · no key required
$ curl https://www.pairbook.io/api/v1/pairs/awk-vs-nvda.json

AWK vs NVDA: 3-year weekly correlation -0.23AWK vs NVDA-0.23

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[![AWK vs NVDA correlation](https://www.pairbook.io/api/v1/badge/awk-vs-nvda.svg)](https://www.pairbook.io/pair/awk-vs-nvda/)

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Hubs: AWK correlations · NVDA correlations