AMRC vs TAN: Correlation
Measured on weekly returns over the past three years, Ameresco, Inc. (AMRC) and Invesco Solar ETF (TAN) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMRC and TAN?
Over the past 3 years, AMRC and TAN moved with a correlation of 0.65, which is strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 1821.9 %².
TAN is one of the assets that tracks AMRC most closely: it ranks #1 out of the 18 assets we track against AMRC. The last year tells two different stories: TAN led by 28.0 percentage points, -6.6% for AMRC against +21.4% for TAN. One caveat on sizing: AMRC is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TAN: side by side
| AMRC (Ameresco, Inc.) | TAN (Invesco Solar ETF) | |
|---|---|---|
| 1-year return | -6.6% | +21.4% |
| 5-year return | -66.7% | -41.9% |
| Volatility (ann.) | 74.9% | 37.4% |
| Beta vs S&P 500 | 1.78 | 1.04 |
| Max drawdown (3Y) | -81.5% | -55.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | AMRC | TAN |
|---|---|---|
| 2022 | -29.8% | -5.2% |
| 2023 | -44.6% | -26.8% |
| 2024 | -25.9% | -37.6% |
| 2025 | +24.7% | +48.3% |
| 2026 | -21.8% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMRC and TAN good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AMRC and TAN?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.59 over the last year and 0.65 over 5 years.
Is TAN a good diversifier for AMRC?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amrc-vs-tan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amrc-vs-tan/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMRC correlations · TAN correlations
