NNI vs STT: Correlation
Nelnet, Inc. (NNI) and State Street Corporation (STT) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNI and STT?
On 3 years of weekly data the NNI/STT correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.40 versus 0.54 over 3 years. The 5-year figure is 0.42, and annualized covariance runs at 271.0 %².
Among the 17 assets we track against NNI, STT ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with STT ahead by 72.9 points (-0.2% versus +72.7%).
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.
NNI vs STT: side by side
| NNI (Nelnet, Inc.) | STT (State Street Corporation) | |
|---|---|---|
| 1-year return | -0.2% | +72.7% |
| 5-year return | +67.8% | +144.9% |
| Volatility (ann.) | 22.0% | 22.9% |
| Beta vs S&P 500 | 0.59 | 0.97 |
| Max drawdown (3Y) | -18.5% | -25.7% |
| Market cap | $4.6B | $53.1B |
| P/E (trailing) | 15.3 | 17.1 |
| Dividend yield | 1.01% | 1.74% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | NNI | STT |
|---|---|---|
| 2022 | -6.0% | -13.8% |
| 2023 | -1.6% | +3.5% |
| 2024 | +22.4% | +30.2% |
| 2025 | +25.7% | +35.5% |
| 2026 | -3.7% | +52.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNI and STT good diversifiers for each other?
Only partially. A correlation of 0.54 means NNI and STT 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 NNI and STT?
The NNI/STT correlation stands at 0.54 on a 3-year window (1 year: 0.40, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is STT a good diversifier for NNI?
Only partially. A correlation of 0.54 means NNI and STT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NNI correlations · STT correlations
