NRGV vs SMRT: Correlation
Energy Vault Holdings, Inc. (NRGV) and SmartRent, Inc. (SMRT) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRGV and SMRT?
Across a 3-year window, the weekly returns of NRGV and SMRT correlate at 0.43, moderate. The past 12 months show a weaker link (0.27) than the 3-year average (0.43). Stretching to 5 years gives 0.26, with an annualized covariance of 2972.9 %².
Among the 10 assets we track against NRGV, SMRT ranks #4 by 3-year correlation. The last year tells two different stories: NRGV led by 136.2 percentage points, +128.7% for NRGV against -7.5% for SMRT. One caveat on sizing: NRGV is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SMRT: side by side
| NRGV (Energy Vault Holdings, Inc.) | SMRT (SmartRent, Inc.) | |
|---|---|---|
| 1-year return | +128.7% | -7.5% |
| 5-year return | -61.1% | -89.1% |
| Volatility (ann.) | 104.9% | 66.0% |
| Beta vs S&P 500 | 2.23 | 1.68 |
| Max drawdown (3Y) | -80.7% | -79.4% |
| Market cap | $0.7B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRGV | SMRT |
|---|---|---|
| 2022 | -68.5% | -74.9% |
| 2023 | -25.3% | +31.3% |
| 2024 | -2.1% | -45.1% |
| 2025 | +102.2% | +15.4% |
| 2026 | -18.7% | -32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRGV and SMRT good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NRGV and SMRT?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.27 over the last year and 0.26 over 5 years.
Is SMRT a good diversifier for NRGV?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/nrgv-vs-smrt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nrgv-vs-smrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NRGV correlations · SMRT correlations
