MOD vs NVT: Correlation
Modine Manufacturing Company (MOD) and nVent Electric plc (NVT) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOD and NVT?
Over the past 3 years, MOD and NVT moved with a correlation of 0.70, which is strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.70). Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 1506.5 %².
In MOD's tracked universe of 15 assets, NVT sits right near the top at #1. The last year tells two different stories: NVT led by 39.2 percentage points, +32.7% for MOD against +71.9% for NVT. Note the risk asymmetry: MOD runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MOD vs NVT: side by side
| MOD (Modine Manufacturing Company) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | +32.7% | +71.9% |
| 5-year return | +1391.7% | +382.4% |
| Volatility (ann.) | 59.1% | 36.7% |
| Beta vs S&P 500 | 1.87 | 1.68 |
| Max drawdown (3Y) | -51.6% | -46.7% |
| Market cap | $9.9B | $25.2B |
| P/E (trailing) | 70.0 | 43.2 |
| Dividend yield | 0.00% | 0.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MOD | NVT |
|---|---|---|
| 2022 | +96.8% | +3.3% |
| 2023 | +200.6% | +56.0% |
| 2024 | +94.2% | +16.6% |
| 2025 | +15.2% | +51.3% |
| 2026 | +39.5% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOD and NVT good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MOD and NVT?
The MOD/NVT correlation stands at 0.70 on a 3-year window (1 year: 0.49, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is NVT a good diversifier for MOD?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
A reading of 0.70 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/mod-vs-nvt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mod-vs-nvt/)
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Related comparisons
Hubs: MOD correlations · NVT correlations
