AMRC vs HASI: Correlation
Ameresco, Inc. (AMRC) and HA Sustainable Infrastructure Capital, Inc. (HASI) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMRC and HASI?
Over the past 3 years, AMRC and HASI moved with a correlation of 0.53, which is moderate. The past 12 months show a weaker link (0.37) than the 3-year average (0.53). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 1902.0 %².
By 3-year correlation, HASI places #5 of the 18 assets tracked against AMRC. Correlation aside, the last 12 months split them widely, with HASI ahead by 57.6 points (-6.6% versus +51.0%). Note the risk asymmetry: AMRC runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AMRC vs HASI: side by side
| AMRC (Ameresco, Inc.) | HASI (HA Sustainable Infrastructure Capital, Inc.) | |
|---|---|---|
| 1-year return | -6.6% | +51.0% |
| 5-year return | -66.7% | -13.8% |
| Volatility (ann.) | 74.9% | 48.0% |
| Beta vs S&P 500 | 1.78 | 0.84 |
| Max drawdown (3Y) | -81.5% | -41.4% |
| Market cap | $1.2B | $5.2B |
| P/E (trailing) | 43.2 | 62.0 |
| Dividend yield | 0.00% | 4.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMRC | HASI |
|---|---|---|
| 2022 | -29.8% | -43.0% |
| 2023 | -44.6% | +1.5% |
| 2024 | -25.9% | +3.0% |
| 2025 | +24.7% | +23.9% |
| 2026 | -21.8% | +31.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMRC and HASI good diversifiers for each other?
Only partially. A correlation of 0.53 means AMRC and HASI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMRC and HASI?
The AMRC/HASI correlation stands at 0.53 on a 3-year window (1 year: 0.37, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is HASI a good diversifier for AMRC?
Only partially. A correlation of 0.53 means AMRC and HASI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amrc-vs-hasi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amrc-vs-hasi/)
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Related comparisons
Hubs: AMRC correlations · HASI correlations
