NVT vs PWR: Correlation
Measured on weekly returns over the past three years, nVent Electric plc (NVT) and Quanta Services (PWR) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVT and PWR?
Over the past 3 years, NVT and PWR moved with a correlation of 0.70, which is strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 873.5 %².
Within NVT's tracked universe of 37 assets, PWR comes in at #7 by 3-year correlation. The trailing year gives NVT the advantage: +71.9% versus +63.1%, a 8.8-point spread.
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.
NVT vs PWR: side by side
| NVT (nVent Electric plc) | PWR (Quanta Services) | |
|---|---|---|
| 1-year return | +71.9% | +63.1% |
| 5-year return | +382.4% | +506.1% |
| Volatility (ann.) | 36.7% | 33.9% |
| Beta vs S&P 500 | 1.68 | 1.29 |
| Max drawdown (3Y) | -46.7% | -33.9% |
| Market cap | $25.2B | $93.5B |
| P/E (trailing) | 43.2 | 70.4 |
| Dividend yield | 0.53% | 0.07% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NVT | PWR |
|---|---|---|
| 2022 | +3.3% | +24.6% |
| 2023 | +56.0% | +51.7% |
| 2024 | +16.6% | +46.6% |
| 2025 | +51.3% | +33.7% |
| 2026 | +53.3% | +47.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVT and PWR good diversifiers for each other?
Only partially. A correlation of 0.70 means NVT and PWR 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 NVT and PWR?
The NVT/PWR correlation stands at 0.70 on a 3-year window (1 year: 0.63, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is PWR a good diversifier for NVT?
Only partially. A correlation of 0.70 means NVT and PWR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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/nvt-vs-pwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nvt-vs-pwr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NVT correlations · PWR correlations
