NVT vs TT: Correlation
How closely do nVent Electric plc (NVT) and Trane Technologies (TT) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVT and TT?
Across a 3-year window, the weekly returns of NVT and TT correlate at 0.65, strong. The link has loosened recently: the 1-year correlation (0.53) runs below the 3-year figure (0.65). Stretching to 5 years gives 0.63, with an annualized covariance of 661.7 %².
By 3-year correlation, TT places #14 of the 37 assets tracked against NVT. Their recent paths diverged sharply: over the last 12 months NVT outperformed by 64.1 percentage points (+71.9% for NVT against +7.8% for TT).
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 TT: side by side
| NVT (nVent Electric plc) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +71.9% | +7.8% |
| 5-year return | +382.4% | +141.4% |
| Volatility (ann.) | 36.7% | 27.8% |
| Beta vs S&P 500 | 1.68 | 1.19 |
| Max drawdown (3Y) | -46.7% | -24.4% |
| Market cap | $25.2B | $100.0B |
| P/E (trailing) | 43.2 | 33.8 |
| Dividend yield | 0.53% | 0.86% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NVT | TT |
|---|---|---|
| 2022 | +3.3% | -15.3% |
| 2023 | +56.0% | +47.4% |
| 2024 | +16.6% | +53.0% |
| 2025 | +51.3% | +6.1% |
| 2026 | +53.3% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVT and TT good diversifiers for each other?
To a limited degree. At 0.65 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 TT?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.53 over the last year and 0.63 over 5 years.
Is TT a good diversifier for NVT?
To a limited degree. At 0.65 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 0.65 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-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nvt-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NVT correlations · TT correlations
