NVEC vs WAB: Correlation
How closely do NVE Corporation (NVEC) and Wabtec (WAB) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVEC and WAB?
Across a 3-year window, the weekly returns of NVEC and WAB correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.45, with an annualized covariance of 545.1 %².
Among the 10 assets we track against NVEC, WAB ranks #5 by 3-year correlation. The last year tells two different stories: NVEC led by 20.8 percentage points, +73.7% for NVEC against +52.9% for WAB. One caveat on sizing: NVEC is 1.8 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.
NVEC vs WAB: side by side
| NVEC (NVE Corporation) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +73.7% | +52.9% |
| 5-year return | +103.2% | +241.0% |
| Volatility (ann.) | 44.5% | 25.3% |
| Beta vs S&P 500 | 1.14 | 0.99 |
| Max drawdown (3Y) | -37.7% | -23.6% |
| Market cap | $0.5B | $50.2B |
| P/E (trailing) | 28.8 | 40.5 |
| Dividend yield | 3.73% | 0.37% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NVEC | WAB |
|---|---|---|
| 2022 | +1.9% | +9.1% |
| 2023 | +27.7% | +28.0% |
| 2024 | +9.2% | +50.1% |
| 2025 | -22.7% | +13.2% |
| 2026 | +86.9% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVEC and WAB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NVEC and WAB?
As of 2026-08-27, the correlation of weekly returns between NVEC and WAB is 0.48 over 3 years, 0.51 over 1 year and 0.45 over 5 years.
Is WAB a good diversifier for NVEC?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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
$ curl https://www.pairbook.io/api/v1/pairs/nvec-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvec-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NVEC correlations · WAB correlations
