NNE vs SMR: Correlation
How closely do Nano Nuclear Energy Inc. (NNE) and NuScale Power Corporation (SMR) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNE and SMR?
Across a 3-year window, the weekly returns of NNE and SMR correlate at 0.67, strong. The link has tightened recently: the 1-year correlation (0.84) runs above the 3-year figure (0.67). Stretching to 5 years gives n/a, with an annualized covariance of 10977.4 %².
In NNE's tracked universe of 18 assets, SMR sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months NNE outperformed by 30.8 percentage points (-41.5% for NNE against -72.3% for SMR).
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.
NNE vs SMR: side by side
| NNE (Nano Nuclear Energy Inc.) | SMR (NuScale Power Corporation) | |
|---|---|---|
| 1-year return | -41.5% | -72.3% |
| 5-year return | n/a | -3.2% |
| Volatility (ann.) | 155.1% | 119.8% |
| Beta vs S&P 500 | 4.18 | 3.28 |
| Max drawdown (3Y) | -77.7% | -85.8% |
| Market cap | $1.0B | $4.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNE | SMR |
|---|---|---|
| 2023 | – | -67.9% |
| 2024 | – | +445.0% |
| 2025 | -3.6% | -21.0% |
| 2026 | -19.9% | -31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNE and SMR good diversifiers for each other?
Only partially. A correlation of 0.67 means NNE and SMR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NNE and SMR?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.84 over the last year and n/a over 5 years.
Is SMR a good diversifier for NNE?
Only partially. A correlation of 0.67 means NNE and SMR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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/nne-vs-smr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nne-vs-smr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NNE correlations · SMR correlations
