Clearway Energy Correlations
| CWENA Stock | 34.14 0.05 0.15% |
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 Class and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearway Energy Class and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Clearway Stock
| 0.88 | BEPC | Brookfield Renewable Corp | PairCorr |
| 0.87 | 002039 | Guizhou Qianyuan Power | PairCorr |
| 0.77 | INOXGREEN | Inox Green Energy | PairCorr |
| 0.84 | ELLO | Ellomay Capital | PairCorr |
| 0.88 | ENLT | Enlight Renewable Energy Earnings Call This Week | PairCorr |
| 0.79 | 600236 | Guangxi Guiguan Electric | PairCorr |
| 0.68 | AES | AES | PairCorr |
| 0.81 | BEP | Brookfield Renewable | PairCorr |
| 0.91 | KEN | Kenon Holdings | PairCorr |
| 0.89 | ORA | Ormat Technologies | PairCorr |
| 0.7 | 600021 | Shanghai Electric Power | PairCorr |
| 0.64 | TAC | TransAlta Corp | PairCorr |
| 0.75 | EOSEW | Eos Energy Enterprises | PairCorr |
| 0.62 | 600025 | Huaneng Lancang River | PairCorr |
| 0.83 | SVIIR | Spring Valley Acquisition | PairCorr |
| 0.72 | LGI | LGI | PairCorr |
Moving against Clearway Stock
| 0.78 | VVPR | VivoPower International | PairCorr |
| 0.6 | GEV | GE Vernova LLC | PairCorr |
| 0.56 | 200539 | Guangdong Electric Power | PairCorr |
| 0.48 | 601778 | Jinko Power Technology | PairCorr |
| 0.35 | 600744 | Datang HuaYin Electric | PairCorr |
| 0.32 | XIFR | XPLR Infrastructure Symbol Change | PairCorr |
| 0.61 | INDOWIND | Indowind Energy | PairCorr |
| 0.53 | VST | Vistra Energy Corp | PairCorr |
| 0.53 | DEL | Delorean | PairCorr |
| 0.52 | REVV | ReVolve Renewable Power Earnings Call Next Week | PairCorr |
| 0.36 | GIP | Green Impact Partners | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | OMHE | ||
| 0.0 | -0.24 | 0.0 | -0.05 | -0.22 | CADE-PA | ||
| 0.0 | -0.24 | 0.0 | 0.71 | 0.62 | ALDF | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | NHEL | ||
| 0.0 | -0.05 | 0.71 | 0.0 | 0.86 | EXCH | ||
| 0.0 | -0.22 | 0.62 | 0.0 | 0.86 | SOBS | ||
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| OMHE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CADE-PA | 0.62 | 0.00 | (0.04) | 0.06 | 0.72 | 1.34 | 3.67 | |||
| ALDF | 0.12 | 0.02 | (0.11) | (1.67) | 0.00 | 0.38 | 0.96 | |||
| NHEL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| EXCH | 0.53 | 0.25 | 0.00 | 0.89 | 0.00 | 0.64 | 10.65 | |||
| SOBS | 0.79 | 0.09 | 0.01 | (0.94) | 1.12 | 1.53 | 11.18 |