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When Nvidia shares rise — these 4 global stocks have tended to rise too, according to recent history

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CNBC Pro screened for European stocks that were correlated to Nvidia's over the past year.

Four stocks in the Stoxx Europe 600 index tend to rise alongside Nvidia shares, according to an analysis of share price data by

Pro . The European stocks are also semiconductor focused companies: ASML, VAT Group, ASM International , and BE Semiconductor Industries . All four stocks are traded worldwide, including in the U.S., U.K. and Germany. The share price performances of these technology stocks were highly correlated to Nvidia's over the past year. However, unlike the AI chip giant's 210% share price increase over the past 12 months, these stocks rose relatively moderately between 40% and 85%.

Pro's analysis used the Pearson correlation coefficient, the most common way of measuring a linear correlation between two variables — in this case, stock prices. 's calculations only measure the direction and size of daily price action. Longer-term returns are not considered. The consensus upside potential for the stocks listed above was derived from FactSet's poll of analysts covering each stock.

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