NRGV vs SLDP: Correlation
Energy Vault Holdings, Inc. (NRGV) and Solid Power, Inc. (SLDP) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRGV and SLDP?
On 3 years of weekly data the NRGV/SLDP correlation comes out at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 4004.5 %².
SLDP is one of the assets that tracks NRGV most closely: it ranks #2 out of the 10 assets we track against NRGV. Correlation aside, the last 12 months split them widely, with NRGV ahead by 175.1 points (+128.7% versus -46.4%).
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.
NRGV vs SLDP: side by side
| NRGV (Energy Vault Holdings, Inc.) | SLDP (Solid Power, Inc.) | |
|---|---|---|
| 1-year return | +128.7% | -46.4% |
| 5-year return | -61.1% | -76.1% |
| Volatility (ann.) | 104.9% | 87.4% |
| Beta vs S&P 500 | 2.23 | 1.88 |
| Max drawdown (3Y) | -80.7% | -76.5% |
| Market cap | $0.7B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRGV | SLDP |
|---|---|---|
| 2022 | -68.5% | -70.9% |
| 2023 | -25.3% | -42.9% |
| 2024 | -2.1% | +30.3% |
| 2025 | +102.2% | +124.9% |
| 2026 | -18.7% | -44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRGV and SLDP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NRGV and SLDP?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.35 over the last year and 0.38 over 5 years.
Is SLDP a good diversifier for NRGV?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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
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Related comparisons
Hubs: NRGV correlations · SLDP correlations
