ETN vs NVT: Correlation
How closely do Eaton Corporation (ETN) and nVent Electric plc (NVT) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and NVT?
On 3 years of weekly data the ETN/NVT correlation comes out at 0.76, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.76 over 3. The 5-year figure is 0.76, and annualized covariance runs at 847.2 %².
In ETN's tracked universe of 44 assets, NVT sits right near the top at #3. The last year tells two different stories: NVT led by 52.2 percentage points, +19.7% for ETN 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.
ETN vs NVT: side by side
| ETN (Eaton Corporation) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | +19.7% | +71.9% |
| 5-year return | +164.1% | +382.4% |
| Volatility (ann.) | 30.2% | 36.7% |
| Beta vs S&P 500 | 1.33 | 1.68 |
| Max drawdown (3Y) | -34.5% | -46.7% |
| Market cap | $161.6B | $25.2B |
| P/E (trailing) | 42.4 | 43.2 |
| Dividend yield | 1.02% | 0.53% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ETN | NVT |
|---|---|---|
| 2022 | -7.2% | +3.3% |
| 2023 | +56.2% | +56.0% |
| 2024 | +39.5% | +16.6% |
| 2025 | -2.8% | +51.3% |
| 2026 | +31.7% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and NVT good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ETN and NVT?
As of 2026-08-27, the correlation of weekly returns between ETN and NVT is 0.76 over 3 years, 0.66 over 1 year and 0.76 over 5 years.
Is NVT a good diversifier for ETN?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
A reading of 0.76 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/etn-vs-nvt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/etn-vs-nvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETN correlations · NVT correlations
