NVT vs SMH: Correlation
How closely do nVent Electric plc (NVT) and VanEck Semiconductor ETF (SMH) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVT and SMH?
Across a 3-year window, the weekly returns of NVT and SMH correlate at 0.71, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.71 over 3. Stretching to 5 years gives 0.65, with an annualized covariance of 882.3 %².
By 3-year correlation, SMH places #4 of the 37 assets tracked against NVT. Their recent paths diverged sharply: over the last 12 months SMH outperformed by 21.2 percentage points (+71.9% for NVT against +93.1% for SMH).
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 SMH: side by side
| NVT (nVent Electric plc) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +71.9% | +93.1% |
| 5-year return | +382.4% | +332.8% |
| Volatility (ann.) | 36.7% | 33.7% |
| Beta vs S&P 500 | 1.68 | 1.91 |
| Max drawdown (3Y) | -46.7% | -35.7% |
| Market cap | $25.2B | – |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.53% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | NVT | SMH |
|---|---|---|
| 2022 | +3.3% | -33.5% |
| 2023 | +56.0% | +73.4% |
| 2024 | +16.6% | +39.1% |
| 2025 | +51.3% | +49.2% |
| 2026 | +53.3% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVT and SMH good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NVT and SMH?
As of 2026-08-27, the correlation of weekly returns between NVT and SMH is 0.71 over 3 years, 0.71 over 1 year and 0.65 over 5 years.
Is SMH a good diversifier for NVT?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 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-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvt-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NVT correlations · SMH correlations
