CWEN vs NEE: Correlation
Clearway Energy, Inc. (CWEN) and NextEra Energy (NEE) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWEN and NEE?
Across a 3-year window, the weekly returns of CWEN and NEE correlate at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 416.5 %².
Among the 11 assets we track against CWEN, NEE ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +14.7% for CWEN and +16.2% for NEE.
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.
CWEN vs NEE: side by side
| CWEN (Clearway Energy, Inc.) | NEE (NextEra Energy) | |
|---|---|---|
| 1-year return | +14.7% | +16.2% |
| 5-year return | +32.0% | +12.9% |
| Volatility (ann.) | 30.0% | 26.5% |
| Beta vs S&P 500 | 0.26 | 0.28 |
| Max drawdown (3Y) | -26.0% | -28.8% |
| Market cap | $8.0B | $174.1B |
| P/E (trailing) | 37.7 | 18.9 |
| Dividend yield | 5.62% | 2.82% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | CWEN | NEE |
|---|---|---|
| 2022 | -7.9% | -8.5% |
| 2023 | -8.9% | -25.3% |
| 2024 | +0.9% | +21.5% |
| 2025 | +35.5% | +15.5% |
| 2026 | -0.3% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWEN and NEE good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CWEN and NEE?
The CWEN/NEE correlation stands at 0.52 on a 3-year window (1 year: 0.45, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is NEE a good diversifier for CWEN?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 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
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Related comparisons
Hubs: CWEN correlations · NEE correlations
