CWEN vs QCLS: Correlation
Clearway Energy, Inc. (CWEN) and Q/C Technologies, Inc. (QCLS) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWEN and QCLS?
Over the past 3 years, CWEN and QCLS moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -750.7 %².
QCLS is close to the least connected end of CWEN's tracked universe, ranking #9 of 11. The last year tells two different stories: CWEN led by 88.4 percentage points, +14.7% for CWEN against -73.7% for QCLS. Risk is not evenly split, since QCLS carries 3.6 times the volatility of the other side.
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 QCLS: side by side
| CWEN (Clearway Energy, Inc.) | QCLS (Q/C Technologies, Inc.) | |
|---|---|---|
| 1-year return | +14.7% | -73.7% |
| 5-year return | +32.0% | -100.0% |
| Volatility (ann.) | 30.0% | 108.9% |
| Beta vs S&P 500 | 0.26 | 0.87 |
| Max drawdown (3Y) | -26.0% | -99.9% |
| Market cap | $8.0B | – |
| P/E (trailing) | 37.7 | – |
| Dividend yield | 5.62% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWEN | QCLS |
|---|---|---|
| 2022 | -7.9% | -81.0% |
| 2023 | -8.9% | -77.5% |
| 2024 | +0.9% | -85.2% |
| 2025 | +35.5% | -96.5% |
| 2026 | -0.3% | -40.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWEN and QCLS good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CWEN and QCLS?
As of 2026-08-27, the correlation of weekly returns between CWEN and QCLS is -0.23 over 3 years, -0.20 over 1 year and -0.09 over 5 years.
Is QCLS a good diversifier for CWEN?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/cwen-vs-qcls.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cwen-vs-qcls/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CWEN correlations · QCLS correlations
