EVEX vs NPWR: Correlation
How closely do Eve Holding, Inc. (EVEX) and NET Power Inc. (NPWR) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVEX and NPWR?
Over the past 3 years, EVEX and NPWR moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 1734.3 %².
By 3-year correlation, NPWR places #9 of the 15 assets tracked against EVEX. On 12-month performance NPWR holds a 12.7-point edge, -40.8% against -28.1%.
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.
EVEX vs NPWR: side by side
| EVEX (Eve Holding, Inc.) | NPWR (NET Power Inc.) | |
|---|---|---|
| 1-year return | -40.8% | -28.1% |
| 5-year return | -72.4% | -80.6% |
| Volatility (ann.) | 60.7% | 80.8% |
| Beta vs S&P 500 | 1.73 | 1.46 |
| Max drawdown (3Y) | -75.8% | -91.8% |
| Market cap | $0.8B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVEX | NPWR |
|---|---|---|
| 2022 | – | +1.7% |
| 2023 | +1.7% | -0.7% |
| 2024 | -25.7% | +4.9% |
| 2025 | -26.7% | -78.5% |
| 2026 | -40.1% | -17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVEX and NPWR good diversifiers for each other?
Reasonably. At 0.35, EVEX and NPWR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EVEX and NPWR?
As of 2026-08-27, the correlation of weekly returns between EVEX and NPWR is 0.35 over 3 years, 0.34 over 1 year and 0.23 over 5 years.
Is NPWR a good diversifier for EVEX?
Reasonably. At 0.35, EVEX and NPWR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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/evex-vs-npwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/evex-vs-npwr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVEX correlations · NPWR correlations
