CECO vs NVT: Correlation
Measured on weekly returns over the past three years, CECO Environmental Corp. (CECO) and nVent Electric plc (NVT) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CECO and NVT?
Across a 3-year window, the weekly returns of CECO and NVT correlate at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.47). Stretching to 5 years gives 0.45, with an annualized covariance of 937.0 %².
NVT is one of the assets that tracks CECO most closely: it ranks #2 out of the 12 assets we track against CECO. The last year tells two different stories: NVT led by 17.8 percentage points, +54.1% for CECO against +71.9% for NVT.
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.
CECO vs NVT: side by side
| CECO (CECO Environmental Corp.) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | +54.1% | +71.9% |
| 5-year return | +853.0% | +382.4% |
| Volatility (ann.) | 54.0% | 36.7% |
| Beta vs S&P 500 | 0.97 | 1.68 |
| Max drawdown (3Y) | -47.9% | -46.7% |
| Market cap | $4.2B | $25.2B |
| P/E (trailing) | – | 43.2 |
| Dividend yield | 0.00% | 0.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CECO | NVT |
|---|---|---|
| 2022 | +87.5% | +3.3% |
| 2023 | +73.6% | +56.0% |
| 2024 | +49.1% | +16.6% |
| 2025 | +98.0% | +51.3% |
| 2026 | +20.5% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CECO and NVT good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CECO and NVT?
As of 2026-08-27, the correlation of weekly returns between CECO and NVT is 0.47 over 3 years, 0.36 over 1 year and 0.45 over 5 years.
Is NVT a good diversifier for CECO?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ceco-vs-nvt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ceco-vs-nvt/)
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Related comparisons
Hubs: CECO correlations · NVT correlations
