GEV vs NRG: Correlation
Measured on weekly returns over the past three years, GE Vernova (GEV) and NRG Energy (NRG) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEV and NRG?
Over the past 3 years, GEV and NRG moved with a correlation of 0.53, which is moderate. The past 12 months show a weaker link (0.37) than the 3-year average (0.53). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1156.7 %².
Among the 33 assets we track against GEV, NRG ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GEV outperformed by 75.4 percentage points (+53.6% for GEV against -21.8% for NRG). The rolling one-year correlation moved between 0.34 and 0.77 over the past three years, a moderate range.
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.
GEV vs NRG: side by side
| GEV (GE Vernova) | NRG (NRG Energy) | |
|---|---|---|
| 1-year return | +53.6% | -21.8% |
| 5-year return | n/a | +191.5% |
| Volatility (ann.) | 45.8% | 44.4% |
| Beta vs S&P 500 | 1.42 | 1.30 |
| Max drawdown (3Y) | -38.3% | -38.9% |
| Market cap | $254.0B | $24.1B |
| P/E (trailing) | 27.3 | 30.2 |
| Dividend yield | 0.18% | 1.61% |
| Sector / category | Industrials | Utilities |
Year-by-year returns
| Year | GEV | NRG |
|---|---|---|
| 2022 | – | -23.5% |
| 2023 | – | +69.4% |
| 2024 | – | +78.6% |
| 2025 | +99.0% | +78.9% |
| 2026 | +46.2% | -27.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEV and NRG good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GEV and NRG?
The GEV/NRG correlation stands at 0.53 on a 3-year window (1 year: 0.37, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NRG a good diversifier for GEV?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gev-vs-nrg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gev-vs-nrg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEV correlations · NRG correlations
