MTUM vs NVT: Correlation
How closely do iShares MSCI USA Momentum Factor ETF (MTUM) and nVent Electric plc (NVT) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and NVT?
Across a 3-year window, the weekly returns of MTUM and NVT correlate at 0.75, strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. Stretching to 5 years gives 0.70, with an annualized covariance of 562.3 %².
Within MTUM's tracked universe of 109 assets, NVT comes in at #18 by 3-year correlation. The last year tells two different stories: NVT led by 46.7 percentage points, +25.2% for MTUM against +71.9% for NVT. Risk is not evenly split, since NVT carries 1.8 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.
MTUM vs NVT: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | +25.2% | +71.9% |
| 5-year return | +76.1% | +382.4% |
| Volatility (ann.) | 20.6% | 36.7% |
| Beta vs S&P 500 | 1.25 | 1.68 |
| Max drawdown (3Y) | -21.0% | -46.7% |
| Market cap | – | $25.2B |
| P/E (trailing) | – | 43.2 |
| Dividend yield | 0.62% | 0.53% |
| Expense ratio | 0.15% | – |
| Assets under management | $25.3B | – |
| Sector / category | ETF · US Style | US Listed |
MTUM, iShares's Large Blend fund, carries $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Year-by-year returns
| Year | MTUM | NVT |
|---|---|---|
| 2022 | -18.3% | +3.3% |
| 2023 | +9.1% | +56.0% |
| 2024 | +32.9% | +16.6% |
| 2025 | +22.1% | +51.3% |
| 2026 | +21.8% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUM and NVT good diversifiers for each other?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MTUM and NVT?
As of 2026-08-27, the correlation of weekly returns between MTUM and NVT is 0.75 over 3 years, 0.67 over 1 year and 0.70 over 5 years.
Is NVT a good diversifier for MTUM?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.75 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/mtum-vs-nvt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtum-vs-nvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTUM correlations · NVT correlations
