FN vs NVT: Correlation
Measured on weekly returns over the past three years, Fabrinet (FN) and nVent Electric plc (NVT) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FN and NVT?
Across a 3-year window, the weekly returns of FN and NVT correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 1223.6 %².
Among the 13 assets we track against FN, NVT ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NVT outperformed by 41.7 percentage points (+30.2% for FN against +71.9% for NVT). Risk is not evenly split, since FN carries 1.5 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.
FN vs NVT: side by side
| FN (Fabrinet) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | +30.2% | +71.9% |
| 5-year return | +317.1% | +382.4% |
| Volatility (ann.) | 55.4% | 36.7% |
| Beta vs S&P 500 | 1.97 | 1.68 |
| Max drawdown (3Y) | -44.5% | -46.7% |
| Market cap | $15.5B | $25.2B |
| P/E (trailing) | 33.2 | 43.2 |
| Dividend yield | 0.00% | 0.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FN | NVT |
|---|---|---|
| 2022 | +8.2% | +3.3% |
| 2023 | +48.4% | +56.0% |
| 2024 | +15.5% | +16.6% |
| 2025 | +107.1% | +51.3% |
| 2026 | -5.0% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FN and NVT good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FN and NVT?
The FN/NVT correlation stands at 0.60 on a 3-year window (1 year: 0.54, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is NVT a good diversifier for FN?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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/fn-vs-nvt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fn-vs-nvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FN correlations · NVT correlations
