BLDP vs NVTS: Correlation
How closely do Ballard Power Systems, Inc. (BLDP) and Navitas Semiconductor Corporation (NVTS) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLDP and NVTS?
Over the past 3 years, BLDP and NVTS moved with a correlation of 0.42, which is moderate. The link has tightened recently: the 1-year correlation (0.54) runs above the 3-year figure (0.42). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 3397.1 %².
By 3-year correlation, NVTS places #11 of the 23 assets tracked against BLDP. Correlation aside, the last 12 months split them widely, with NVTS ahead by 90.3 points (+15.8% versus +106.1%). Risk is not evenly split, since NVTS carries 1.9 times the volatility of the other side.
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.
BLDP vs NVTS: side by side
| BLDP (Ballard Power Systems, Inc.) | NVTS (Navitas Semiconductor Corporation) | |
|---|---|---|
| 1-year return | +15.8% | +106.1% |
| 5-year return | -85.8% | -2.3% |
| Volatility (ann.) | 66.3% | 122.7% |
| Beta vs S&P 500 | 1.62 | 2.11 |
| Max drawdown (3Y) | -76.4% | -81.8% |
| Market cap | $0.7B | $3.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLDP | NVTS |
|---|---|---|
| 2022 | -61.9% | -79.4% |
| 2023 | -22.8% | +129.9% |
| 2024 | -55.1% | -55.8% |
| 2025 | +53.0% | +100.0% |
| 2026 | -7.9% | +75.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLDP and NVTS good diversifiers for each other?
Reasonably. At 0.42, BLDP and NVTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BLDP and NVTS?
The BLDP/NVTS correlation stands at 0.42 on a 3-year window (1 year: 0.54, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is NVTS a good diversifier for BLDP?
Reasonably. At 0.42, BLDP and NVTS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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
$ curl https://www.pairbook.io/api/v1/pairs/bldp-vs-nvts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bldp-vs-nvts/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BLDP correlations · NVTS correlations
