NVT vs SPY: Correlation
How closely do nVent Electric plc (NVT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVT and SPY?
Across a 3-year window, the weekly returns of NVT and SPY correlate at 0.66, strong. The past 12 months show a weaker link (0.51) than the 3-year average (0.66). Stretching to 5 years gives 0.63, with an annualized covariance of 351.2 %².
Among the 37 assets we track against NVT, SPY ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVT ahead by 51.3 points (+71.9% versus +20.6%). One caveat on sizing: NVT is 2.5 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.
NVT vs SPY: side by side
| NVT (nVent Electric plc) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +71.9% | +20.6% |
| 5-year return | +382.4% | +82.4% |
| Volatility (ann.) | 36.7% | 14.5% |
| Beta vs S&P 500 | 1.68 | 1.00 |
| Max drawdown (3Y) | -46.7% | -18.8% |
| Market cap | $25.2B | – |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.53% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | NVT | SPY |
|---|---|---|
| 2022 | +3.3% | -18.2% |
| 2023 | +56.0% | +26.2% |
| 2024 | +16.6% | +24.9% |
| 2025 | +51.3% | +17.7% |
| 2026 | +53.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVT and SPY good diversifiers for each other?
To a limited degree. At 0.66 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 SPY?
As of 2026-08-27, the correlation of weekly returns between NVT and SPY is 0.66 over 3 years, 0.51 over 1 year and 0.63 over 5 years.
Is SPY a good diversifier for NVT?
To a limited degree. At 0.66 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 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NVT correlations · SPY correlations
