CLS vs NVT: Correlation
Measured on weekly returns over the past three years, Celestica, Inc. (CLS) and nVent Electric plc (NVT) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and NVT?
Over the past 3 years, CLS and NVT moved with a correlation of 0.66, which is strong. Recent behaviour matches the longer record: 0.57 over 1 year against 0.66 over 3. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 1473.2 %².
In CLS's tracked universe of 23 assets, NVT sits right near the top at #1. The trailing year gives NVT the advantage: +57.0% versus +71.9%, a 14.9-point spread. Risk is not evenly split, since CLS carries 1.7 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.
CLS vs NVT: side by side
| CLS (Celestica, Inc.) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | +57.0% | +71.9% |
| 5-year return | +3251.4% | +382.4% |
| Volatility (ann.) | 60.6% | 36.7% |
| Beta vs S&P 500 | 2.49 | 1.68 |
| Max drawdown (3Y) | -54.0% | -46.7% |
| Market cap | $40.0B | $25.2B |
| P/E (trailing) | 32.0 | 43.2 |
| Dividend yield | 0.00% | 0.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLS | NVT |
|---|---|---|
| 2022 | +1.3% | +3.3% |
| 2023 | +159.8% | +56.0% |
| 2024 | +215.2% | +16.6% |
| 2025 | +220.3% | +51.3% |
| 2026 | +7.4% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLS and NVT good diversifiers for each other?
Only partially. A correlation of 0.66 means CLS and NVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CLS and NVT?
The CLS/NVT correlation stands at 0.66 on a 3-year window (1 year: 0.57, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is NVT a good diversifier for CLS?
Only partially. A correlation of 0.66 means CLS and NVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 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/cls-vs-nvt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cls-vs-nvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLS correlations · NVT correlations
