Clearway Energy Correlations

CWEN-A Stock

USD 24.53 0.39 1.62%

The current 90-days correlation between Clearway Energy and Atlantica Sustainable Infrastructure is -0.39 (i.e., Very good diversification). The correlation of Clearway Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Clearway Energy Correlation With Market

Average diversification

The correlation between Clearway Energy and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearway Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Clearway Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Clearway Stock

0.71	ORA	Ormat Technologies	Pair Corr
0.65	BEPC	Brookfield Renewable Corp Earnings Call Today	Pair Corr
1.0	CWEN	Clearway Energy Class	Pair Corr
0.76	HE	Hawaiian Electric	Pair Corr

Moving against Clearway Stock

0.5	VGASW	Verde Clean Fuels	Pair Corr
0.44	HTOO	Fusion Fuel Green	Pair Corr
0.4	ADNWW	Advent Technologies	Pair Corr
0.38	CEG	Constellation Energy Corp	Pair Corr
0.37	RNW	Renew Energy Global	Pair Corr
0.32	GEV	GE Vernova LLC Buyout Trend	Pair Corr
0.68	ENIC	Enel Chile SA	Pair Corr
0.59	BNRG	Brenmiller Energy	Pair Corr
0.38	CDZIP	Cadiz Depositary Shares	Pair Corr

Related Correlations Analysis

	AY	BEPC	NEP	BEP	CWEN	AQNU	DOGEF	INGXF	HTOOW
AY		-0.88	-0.52	-0.89	-0.61	0.34	-0.94	-0.88	-0.14	AY
BEPC	-0.88		0.58	0.97	0.69	-0.26	0.92	0.87	0.08	BEPC
NEP	-0.52	0.58		0.58	0.25	0.22	0.56	0.65	0.45	NEP
BEP	-0.89	0.97	0.58		0.61	-0.31	0.94	0.91	0.16	BEP
CWEN	-0.61	0.69	0.25	0.61		-0.36	0.57	0.5	-0.19	CWEN
AQNU	0.34	-0.26	0.22	-0.31	-0.36		-0.32	-0.33	0.06	AQNU
DOGEF	-0.94	0.92	0.56	0.94	0.57	-0.32		0.92	0.25	DOGEF
INGXF	-0.88	0.87	0.65	0.91	0.5	-0.33	0.92		0.35	INGXF
HTOOW	-0.14	0.08	0.45	0.16	-0.19	0.06	0.25	0.35		HTOOW
	AY	BEPC	NEP	BEP	CWEN	AQNU	DOGEF	INGXF	HTOOW

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BEP	+ 0.97	BEPC
DOGEF	+ 0.94	BEP
DOGEF	+ 0.92	BEPC
INGXF	+ 0.92	DOGEF
INGXF	+ 0.91	BEP
INGXF	+ 0.87	BEPC

High negative correlations

DOGEF	- 0.94	AY
BEP	- 0.89	AY
INGXF	- 0.88	AY
BEPC	- 0.88	AY
CWEN	- 0.61	AY
NEP	- 0.52	AY

Risk-Adjusted Indicators

There is a big difference between Clearway Stock performing well and Clearway Energy Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Clearway Energy's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AY	0.08	0.01	(0.58)	0.67	0.00	(0.10)	0.23	(0.18)	0.60
BEPC	1.77	(0.42)	0.00	(0.72)	0.00	0.00	2.90	(4.10)	11.22
NEP	2.79	(0.93)	0.00	(1.81)	0.00	0.00	4.13	(6.77)	37.72
BEP	1.44	(0.46)	0.00	(0.87)	0.00	0.00	2.84	(3.70)	10.55
CWEN	1.53	(0.01)	(0.03)	0.06	2.21	(1.52)	3.14	(3.15)	14.81
AQNU	1.36	(0.01)	0.00	0.12	0.00	0.00	2.49	(3.18)	8.45
DOGEF	2.68	(0.68)	0.00	(6.04)	0.00	0.00	5.79	(4.94)	23.11
INGXF	2.13	(0.53)	0.00	(0.75)	0.00	0.00	4.28	(4.09)	15.51
HTOOW	16.87	1.35	0.06	2.47	19.09	(21.29)	40.00	(36.36)	125.24

Clearway Energy Corporate Management

Kevin Malcarney	General VP	Profile
Julie Babcock	Environmental Mang	Profile
Michael Murphy	Senior Officer	Profile
Michael Stanford	Vice Accounting	Profile

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