CWEN vs RELY: Correlation
Measured on weekly returns over the past three years, Clearway Energy, Inc. (CWEN) and Remitly Global, Inc. (RELY) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWEN and RELY?
Over the past 3 years, CWEN and RELY moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -361.5 %².
Among the 11 assets we track against CWEN, RELY sits near the bottom by co-movement, at rank #10. The last year tells two different stories: RELY led by 26.6 percentage points, +14.7% for CWEN against +41.3% for RELY. Note the risk asymmetry: RELY runs 1.8 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.
CWEN vs RELY: side by side
| CWEN (Clearway Energy, Inc.) | RELY (Remitly Global, Inc.) | |
|---|---|---|
| 1-year return | +14.7% | +41.3% |
| 5-year return | +32.0% | -46.4% |
| Volatility (ann.) | 30.0% | 52.6% |
| Beta vs S&P 500 | 0.26 | 0.90 |
| Max drawdown (3Y) | -26.0% | -57.9% |
| Market cap | $8.0B | $5.5B |
| P/E (trailing) | 37.7 | 18.6 |
| Dividend yield | 5.62% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWEN | RELY |
|---|---|---|
| 2022 | -7.9% | -44.5% |
| 2023 | -8.9% | +69.6% |
| 2024 | +0.9% | +16.2% |
| 2025 | +35.5% | -38.9% |
| 2026 | -0.3% | +88.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWEN and RELY 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 RELY?
As of 2026-08-27, the correlation of weekly returns between CWEN and RELY is -0.23 over 3 years, -0.31 over 1 year and -0.07 over 5 years.
Is RELY 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?
A reading of -0.23 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/cwen-vs-rely.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cwen-vs-rely/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CWEN correlations · RELY correlations
