HLIT vs RNW: Correlation
Measured on weekly returns over the past three years, Harmonic Inc. (HLIT) and ReNew Energy Global plc - Class A Shares (RNW) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIT and RNW?
Over the past 3 years, HLIT and RNW moved with a correlation of 0.37, which is moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 623.6 %².
RNW is close to the least connected end of HLIT's tracked universe, ranking #8 of 11. Their recent paths diverged sharply: over the last 12 months HLIT outperformed by 40.9 percentage points (+29.4% for HLIT against -11.5% for RNW).
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.
HLIT vs RNW: side by side
| HLIT (Harmonic Inc.) | RNW (ReNew Energy Global plc - Class A Shares) | |
|---|---|---|
| 1-year return | +29.4% | -11.5% |
| 5-year return | +34.2% | -26.6% |
| Volatility (ann.) | 46.9% | 35.5% |
| Beta vs S&P 500 | 1.41 | 0.53 |
| Max drawdown (3Y) | -44.3% | -45.1% |
| Market cap | $1.3B | $2.5B |
| P/E (trailing) | 51.2 | 22.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIT | RNW |
|---|---|---|
| 2022 | +11.4% | -29.3% |
| 2023 | -0.5% | +39.3% |
| 2024 | +1.5% | -10.8% |
| 2025 | -25.2% | -17.3% |
| 2026 | +24.2% | +20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIT and RNW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HLIT and RNW?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.43 over the last year and 0.23 over 5 years.
Is RNW a good diversifier for HLIT?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/hlit-vs-rnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlit-vs-rnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLIT correlations · RNW correlations
