CWEN vs. HASI

Last updated Jun 3, 2026

CWEN (Clearway Energy, Inc.) and HASI (Hannon Armstrong Sustainable Infrastructure Capital, Inc.) are both stocks. CWEN operates in Utilities - Renewable (Utilities), while HASI operates in REIT - Specialty (Real Estate). Over the past 10 years, CWEN returned 16.17%/yr vs 12.71%/yr for HASI. At a 0.39 correlation, their price movements are largely independent.

Performance

CWEN vs. HASI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clearway Energy, Inc. (CWEN) and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CWEN achieves a 27.00% return, which is significantly lower than HASI's 30.81% return. Over the past 10 years, CWEN has outperformed HASI with an annualized return of 16.17%, while HASI has yielded a comparatively lower 12.71% annualized return.

CWEN

• 1D: 2.26%
• 1M: 3.56%
• YTD: 27.00%
• 6M: 20.52%
• 1Y: 43.02%
• 3Y*: 18.04%
• 5Y*: 15.11%
• 10Y*: 16.17%

HASI

• 1D: 1.12%
• 1M: -4.42%
• YTD: 30.81%
• 6M: 25.10%
• 1Y: 73.29%
• 3Y*: 24.88%
• 5Y*: 1.69%
• 10Y*: 12.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CWEN vs. HASI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CWEN Clearway Energy, Inc.	27.00%	35.48%	0.87%	-8.93%	-7.89%	17.83%	67.04%	21.37%	-2.11%	26.92%
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	30.81%	23.95%	3.02%	1.49%	-43.05%	-14.08%	105.59%	77.07%	-15.37%	34.31%

Correlation

The correlation between CWEN and HASI is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 18, 2013	0.39

The correlation between CWEN and HASI shifts across timeframes, from 0.39 (all time) to 0.52 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CWEN : $1.44B HASI : $5.19B
EPS CWEN : $0.02 HASI : $0.42
PE Ratio CWEN : 2.01K HASI : 96.46
PEG Ratio CWEN : 7.68 HASI : 2.69
PS Ratio CWEN : 2.71 HASI : 7.60
PB Ratio CWEN : 0.26 HASI : 2.05
Total Revenue (TTM) CWEN : $1.49B HASI : $710.03M
Gross Profit (TTM) CWEN : $543.00M HASI : $522.93M
EBITDA (TTM) CWEN : $878.00M HASI : $347.85M

Return for Risk

CWEN vs. HASI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CWEN

CWEN Risk / Return Rank: 79
CWEN Sharpe Ratio Rank: 81
CWEN Sortino Ratio Rank: 77
CWEN Omega Ratio Rank: 76
CWEN Calmar Ratio Rank: 82
CWEN Martin Ratio Rank: 81

HASI

HASI Risk / Return Rank: 90
HASI Sharpe Ratio Rank: 90
HASI Sortino Ratio Rank: 90
HASI Omega Ratio Rank: 87
HASI Calmar Ratio Rank: 90
HASI Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CWEN vs. HASI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clearway Energy, Inc. (CWEN) and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CWEN	HASI	Difference
Sharpe ratio Return per unit of total volatility	1.50	2.26	-0.76
Sortino ratio Return per unit of downside risk	2.13	3.33	-1.20
Omega ratio Gain probability vs. loss probability	1.27	1.40	-0.12
Calmar ratio Return relative to maximum drawdown	3.05	4.63	-1.58
Martin ratio Return relative to average drawdown	6.96	13.95	-6.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CWEN vs. HASI - Sharpe Ratio Comparison

The current CWEN Sharpe Ratio is 1.50, which is lower than the HASI Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of CWEN and HASI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CWEN	HASI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	2.26	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.04	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.30	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.42	-0.17

Drawdowns

CWEN vs. HASI - Drawdown Comparison

The maximum CWEN drawdown since its inception was -79.41%, roughly equal to the maximum HASI drawdown of -76.94%. Use the drawdown chart below to compare losses from any high point for CWEN and HASI.

Drawdown Indicators

	CWEN	HASI	Difference
Max Drawdown Largest peak-to-trough decline	-79.41%	-76.94%	-2.47%
Max Drawdown (1Y) Largest decline over 1 year	-14.15%	-15.38%	+1.23%
Max Drawdown (3Y) Largest decline over 3 years	-37.95%	-50.00%	+12.05%
Max Drawdown (5Y) Largest decline over 5 years	-52.09%	-75.24%	+23.15%
Max Drawdown (10Y) Largest decline over 10 years	-52.09%	-76.94%	+24.85%
Current Drawdown Current decline from peak	0.00%	-24.97%	+24.97%
Average Drawdown Average peak-to-trough decline	-35.48%	-22.74%	-12.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	5.10%	+1.10%

Volatility

CWEN vs. HASI - Volatility Comparison

Clearway Energy, Inc. (CWEN) has a higher volatility of 8.86% compared to Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) at 6.78%. This indicates that CWEN's price experiences larger fluctuations and is considered to be riskier than HASI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CWEN	HASI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.86%	6.78%	+2.08%
Volatility (6M) Calculated over the trailing 6-month period	21.85%	19.49%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	28.84%	32.68%	-3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.22%	47.18%	-16.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.31%	42.22%	-10.91%

Dividends

CWEN vs. HASI - Dividend Comparison

CWEN's dividend yield for the trailing twelve months is around 4.43%, more than HASI's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWEN Clearway Energy, Inc.	4.43%	5.32%	6.36%	5.62%	4.48%	3.68%	3.29%	4.01%	7.29%	5.81%	5.98%	6.88%
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	4.15%	5.35%	6.19%	5.73%	5.18%	2.64%	2.14%	4.16%	6.93%	5.49%	6.48%	5.71%

Financials

CWEN vs. HASI - Profitability Comparison

The chart below illustrates the profitability comparison between Clearway Energy, Inc. and Hannon Armstrong Sustainable Infrastructure Capital, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CWEN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Clearway Energy, Inc. reported a gross profit of 0.00 and revenue of 354.00M. Therefore, the gross margin over that period was 0.0%.

HASI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hannon Armstrong Sustainable Infrastructure Capital, Inc. reported a gross profit of 88.72M and revenue of 124.23M. Therefore, the gross margin over that period was 71.4%.

CWEN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Clearway Energy, Inc. reported an operating income of 20.00M and revenue of 354.00M, resulting in an operating margin of 5.7%.

HASI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hannon Armstrong Sustainable Infrastructure Capital, Inc. reported an operating income of 78.56M and revenue of 124.23M, resulting in an operating margin of 63.2%.

CWEN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Clearway Energy, Inc. reported a net income of -163.00M and revenue of 354.00M, resulting in a net margin of -46.1%.

HASI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hannon Armstrong Sustainable Infrastructure Capital, Inc. reported a net income of -71.97M and revenue of 124.23M, resulting in a net margin of -57.9%.

Frequently Asked Questions

Can I hold both CWEN and HASI in my portfolio?

CWEN and HASI have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CWEN or HASI?

CWEN has higher volatility (8.86%) compared to HASI (6.78%). In terms of maximum drawdown, CWEN dropped -79.41% vs HASI's -76.94%.

Which has better risk-adjusted returns?

HASI currently has the higher Sharpe Ratio (2.26 vs 1.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.