NRGV vs STEM: Correlation
Measured on weekly returns over the past three years, Energy Vault Holdings, Inc. (NRGV) and Stem, Inc. (STEM) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRGV and STEM?
On 3 years of weekly data the NRGV/STEM correlation comes out at 0.44, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.44 over 3. The 5-year figure is 0.39, and annualized covariance runs at 6008.8 %².
STEM is one of the assets that tracks NRGV most closely: it ranks #3 out of the 10 assets we track against NRGV. The last year tells two different stories: NRGV led by 193.6 percentage points, +128.7% for NRGV against -64.9% for STEM.
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 STEM: side by side
| NRGV (Energy Vault Holdings, Inc.) | STEM (Stem, Inc.) | |
|---|---|---|
| 1-year return | +128.7% | -64.9% |
| 5-year return | -61.1% | -98.9% |
| Volatility (ann.) | 104.9% | 129.9% |
| Beta vs S&P 500 | 2.23 | 2.49 |
| Max drawdown (3Y) | -80.7% | -95.5% |
| Market cap | $0.7B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRGV | STEM |
|---|---|---|
| 2022 | -68.5% | -52.9% |
| 2023 | -25.3% | -56.6% |
| 2024 | -2.1% | -84.5% |
| 2025 | +102.2% | +24.8% |
| 2026 | -18.7% | -62.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRGV and STEM 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 STEM?
The NRGV/STEM correlation stands at 0.44 on a 3-year window (1 year: 0.47, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is STEM 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?
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/nrgv-vs-stem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nrgv-vs-stem/)
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Related comparisons
Hubs: NRGV correlations · STEM correlations
