Theme
Nuclear
Reactors, SMRs, uranium miners and enrichment.
0.524avg corr (252d)
4stocks
Decent co-movementStocks · key Fib levels
- GEV$1134.35last$867.00fib+30.8%vs fibanchored by TVA · Ontario Power Generation · xAI · undisclosed hyperscaler PPAs · utility grid operators (global)
- ▸Gas turbine OEM with active datacenter PPA-tied contracts
- ▸Grid equipment (transformers, HV switchgear) - long lead times = pricing power
- ▸Nuclear services franchise (BWRX-300 SMR + existing-fleet maintenance)
- ▸Capacity backlog stretching multiple years given hyperscaler-driven demand
- LEU$166.34last$183.00fib−9.1%vs fibanchored by DOE · US utilities (LEU contracts) · SMR developers (Oklo, NuScale, X-energy, TerraPower)
- ▸2022 - First HALEU production at Piketon facility (DOE demonstration contract)
- ▸2024 - Russia uranium imports banned; domestic HALEU strategic priority
- ▸2024-2025 - DOE multi-year HALEU production scale-up contracts
- ▸2025 - First commercial HALEU deliveries to SMR + advanced reactor developers
- ▸2026 - Additional centrifuge cascades planned at Piketon
- OKLO$52.45last$69.00fib−24.0%vs fibanchored by DOE (Idaho National Laboratory) · Datacenter operators (undisclosed LOIs) · Industrial / remote site operators
- ▸2024 - DOE Idaho National Laboratory site approval for first Aurora reactor
- ▸2024 - Multiple LOIs / framework agreements with datacenter operators (specific terms undisclosed)
- ▸2025 - NRC combined-license application progressing; site characterization complete at INL
- ▸2025-2026 - Pre-construction engineering for first commercial Aurora units
- ▸Late-2020s targeted - First Aurora commercial operation
- UUUU$14.22last$20.00fib−28.9%vs fibanchored by US nuclear utilities (undisclosed) · US Department of Energy · Neo Performance Materials
- ▸**2022-2025**: Multi-year uranium sales contracts with undisclosed US nuclear utilities at above-spot fixed prices; contract book provides revenue visibility through 2030
- ▸**2023**: US Department of Energy Uranium Reserve purchase - UUUU among initial domestic suppliers selected for strategic stockpile
- ▸**2023-2024**: Rare-earth carbonate supply agreement with Neo Performance Materials for processing of White Mesa REE product
- ▸**2024**: Expanded REE processing at White Mesa following receipt of monazite sand feed from third-party sources (Chemours, Donald rare-earth project)
Co-movement matrix (252d)
GEV | LEU | OKLO | UUUU | |
|---|---|---|---|---|
| GEV | · | 0.42 | 0.44 | 0.38 |
| LEU | 0.42 | · | 0.73 | 0.58 |
| OKLO | 0.44 | 0.73 | · | 0.61 |
| UUUU | 0.38 | 0.58 | 0.61 | · |
About themes
Themes are editorial groupings - narrative buckets used for technical screens. They exist alongside bubbles, which are validated empirically by capital-flow co-movement.
When a theme's avg correlation is high, the editorial story is also tradeable as a bloc. When it's low, the narrative groups stocks that don't actually move together - useful for thinking, less useful for trading.
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Frequently asked questions
- What are the top stocks in the Nuclear theme?
- QuantAbundancia's Nuclear theme tracks 4 stocks ranked editorially: GEV, LEU, OKLO, UUUU.
- Do Nuclear stocks move together?
- The Nuclear theme has a 252-day average correlation of 0.52 across its members - decent co-movement. Editorial themes are narrative groupings, not capital-flow validated; tradability follows correlation, not the story.