BE vs NVT: Correlation
How closely do Bloom Energy Corporation (BE) and nVent Electric plc (NVT) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BE and NVT?
Over the past 3 years, BE and NVT moved with a correlation of 0.47, which is moderate. The link has tightened recently: the 1-year correlation (0.60) runs above the 3-year figure (0.47). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 1616.0 %².
Within BE's tracked universe of 12 assets, NVT comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BE outperformed by 256.5 percentage points (+328.4% for BE against +71.9% for NVT). One caveat on sizing: BE is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BE vs NVT: side by side
| BE (Bloom Energy Corporation) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | +328.4% | +71.9% |
| 5-year return | +914.6% | +382.4% |
| Volatility (ann.) | 94.3% | 36.7% |
| Beta vs S&P 500 | 2.56 | 1.68 |
| Max drawdown (3Y) | -52.7% | -46.7% |
| Market cap | $64.2B | $25.2B |
| P/E (trailing) | 286.6 | 43.2 |
| Dividend yield | 0.00% | 0.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BE | NVT |
|---|---|---|
| 2022 | -12.8% | +3.3% |
| 2023 | -22.6% | +56.0% |
| 2024 | +50.1% | +16.6% |
| 2025 | +291.2% | +51.3% |
| 2026 | +150.7% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BE and NVT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BE and NVT?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.60 over the last year and 0.44 over 5 years.
Is NVT a good diversifier for BE?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BE correlations · NVT correlations
