What are the top stocks in the Nuclear / SMR bubble?

QuantAbundancia maps 8 primary stocks to the Nuclear / SMR bubble: OKLO, SMR, CCJ, BWXT, LEU, UUUU, NNE, UEC.

What ETFs carry the Nuclear / SMR thesis?

2 ETFs on QuantAbundancia carry the Nuclear / SMR thesis: URA (primary), NLR.

How correlated are Nuclear / SMR stocks?

The Nuclear / SMR bubble's primary members co-move with a 252-day average correlation of 0.60 across 28 pairs - decent co-movement.

Nuclear / SMR

Clean baseload for hyperscaler campuses - SMRs and uranium miners.

0.598avg corr (252d)

0.38 / 0.80min / max

28pairs

8primary stocks

2etfs

Decent co-movement

Stocks

OKLOOklo Inc.
Pure-play SMR, Altman-backed.
$52.45
$69fib-24%
SMRNuScale Power Corporation
Pure-play SMR.
$10.15
CCJCameco Corporation
Uranium major.
$97.39
BWXTBWX Technologies, Inc.
BWX Technologies - naval nuclear fuel + small modular reactor (BWXT Advanced Technologies); DOE + Navy revenue base anchors the franchise with SMR optionality on top.
$191.25
LEUCentrus Energy Corp.
HALEU enrichment.
$166.34
$183fib-9%
UUUUEnergy Fuels Inc.
Energy Fuels - US uranium pure-play (White Mesa Mill) + rare-earth processing optionality.
$14.22
$20fib-29%
NNENano Nuclear Energy Inc.
NANO Nuclear Energy - microreactor pure-play; pre-revenue R&D-stage SMR developer. Speculative tier of the nuclear-SMR exposure.
$20.75
UECUranium Energy Corp.
Uranium Energy Corp - US uranium production (Texas + Wyoming ISR operations); domestic supply leg of the nuclear-SMR thesis.
$10.55
Adjacent (secondary)
LACLithium Americas Corp.
Classifier 2026-05-07: primary tier, corr 0.69 to nuclear-smr centroid (29 obs, 2nd: space 0.484). is_primary_bubble=FALSE.
$3.83
UAMYUnited States Antimony Corporation
Classifier 2026-05-07: primary tier, corr 0.71 to nuclear-smr centroid (29 obs, 2nd: quantum 0.512). is_primary_bubble=FALSE.
$7.70
ALMAlmonty Industries Corp.
Classifier 2026-05-07: extended tier, corr 0.38 to nuclear-smr centroid (29 obs, 2nd: robotics 0.353). is_primary_bubble=FALSE.
$15.95
CRMLCritical Metals Corp.
Classifier 2026-05-07: extended tier, corr 0.34 to nuclear-smr centroid (29 obs, 2nd: datacenter-power 0.172). is_primary_bubble=FALSE.
$9.85
DISThe Walt Disney Company
Classifier 2026-05-07: extended tier, corr 0.41 to nuclear-smr centroid (29 obs, 2nd: space 0.199). is_primary_bubble=FALSE.
$95.71
MPMP Materials Corp.
Classifier 2026-05-07: extended tier, corr 0.58 to nuclear-smr centroid (29 obs, 2nd: space 0.533). is_primary_bubble=FALSE.
$54.28
$60fib-10%
PDDPDD Holdings Inc.
Classifier 2026-05-07: extended tier, corr 0.53 to nuclear-smr centroid (29 obs, 2nd: quantum 0.296). is_primary_bubble=FALSE.
$82.52
SATSEchoStar Corporation
Classifier 2026-05-07: extended tier, corr 0.47 to nuclear-smr centroid (29 obs, 2nd: quantum 0.425). is_primary_bubble=FALSE.
$101.50
SYMSymbotic Inc.
Classifier 2026-05-07: extended tier, corr 0.46 to nuclear-smr centroid (29 obs, 2nd: quantum 0.349). is_primary_bubble=FALSE.
$44.96
TECKTeck Resources Limited
Classifier 2026-05-07: extended tier, corr 0.63 to nuclear-smr centroid (29 obs, 2nd: robotics 0.536). is_primary_bubble=FALSE.
$59.35
USARUSA Rare Earth, Inc.
Classifier 2026-05-07: extended tier, corr 0.54 to nuclear-smr centroid (29 obs, 2nd: quantum 0.421). is_primary_bubble=FALSE.
$19.98
$22fib-9%

Correlation matrix (252d)

	CCJ	UEC	UUUU	LEU	NNE	OKLO	SMR	BWXT
CCJ	·	0.74	0.66	0.57	0.54	0.54	0.58	0.49
UEC	0.74	·	0.75	0.58	0.56	0.60	0.62	0.44
UUUU	0.66	0.75	·	0.58	0.56	0.61	0.56	0.38
LEU	0.57	0.58	0.58	·	0.67	0.73	0.70	0.51
NNE	0.54	0.56	0.56	0.67	·	0.80	0.75	0.46
OKLO	0.54	0.60	0.61	0.73	0.80	·	0.80	0.52
SMR	0.58	0.62	0.56	0.70	0.75	0.80	·	0.45
BWXT	0.49	0.44	0.38	0.51	0.46	0.52	0.45	·

Ticker order reflects hierarchical clustering assignment. Tighter green blocks on the diagonal = stronger sub-clusters within the bubble.

ETF flows (30d)

30 days with data

+$280M

net flow · 30d

$7.1B

bubble AUM

+$537M

biggest inflow

-$441M

biggest outflow

Daily net ETF creations minus redemptions across primary ETFs in the bubble. Green = capital in, red = capital out. Computed nightly from issuer NAV + shares-outstanding data.

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Research

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ETFs carrying the thesis

URAPrimary
Global X Uranium ETF
Global X
-
NLR
VanEck Uranium and Nuclear ETF
VanEck
-

Sub-clusters

Frequently asked questions

What are the top stocks in the Nuclear / SMR bubble?: QuantAbundancia maps 8 primary stocks to the Nuclear / SMR bubble: OKLO, SMR, CCJ, BWXT, LEU, UUUU, NNE, UEC.
What ETFs carry the Nuclear / SMR thesis?: 2 ETFs on QuantAbundancia carry the Nuclear / SMR thesis: URA (primary), NLR.
How correlated are Nuclear / SMR stocks?: The Nuclear / SMR bubble's primary members co-move with a 252-day average correlation of 0.60 across 28 pairs - decent co-movement.