ORA vs. CWEN

Last updated Jun 4, 2026

ORA (Ormat Technologies, Inc.) and CWEN (Clearway Energy, Inc.) are both stocks. Both operate in the Utilities - Renewable industry within the Utilities sector. Over the past 10 years, ORA returned 13.54%/yr vs 15.90%/yr for CWEN. At a 0.43 correlation, their price movements are largely independent.

Performance

ORA vs. CWEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ormat Technologies, Inc. (ORA) and Clearway Energy, Inc. (CWEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ORA achieves a 31.61% return, which is significantly higher than CWEN's 24.08% return. Over the past 10 years, ORA has underperformed CWEN with an annualized return of 13.54%, while CWEN has yielded a comparatively higher 15.90% annualized return.

ORA

• 1D: 0.43%
• 1M: 26.62%
• YTD: 31.61%
• 6M: 30.44%
• 1Y: 93.88%
• 3Y*: 19.77%
• 5Y*: 16.85%
• 10Y*: 13.54%

CWEN

• 1D: -2.30%
• 1M: 5.71%
• YTD: 24.08%
• 6M: 19.76%
• 1Y: 37.55%
• 3Y*: 17.12%
• 5Y*: 14.55%
• 10Y*: 15.90%

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

ORA vs. CWEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ORA Ormat Technologies, Inc.	31.61%	64.06%	-10.05%	-11.82%	9.68%	-11.59%	21.92%	43.45%	-17.42%	20.50%
CWEN Clearway Energy, Inc.	24.08%	35.48%	0.87%	-8.93%	-7.89%	17.83%	67.04%	21.37%	-2.11%	26.92%

Correlation

The correlation between ORA and CWEN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jul 18, 2013	0.43

The correlation between ORA and CWEN shifts across timeframes, from 0.39 (1 year) to 0.54 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ORA : $8.99B CWEN : $1.41B
EPS ORA : $2.07 CWEN : $0.02
PE Ratio ORA : 70.06 CWEN : 1.97K
PEG Ratio ORA : 3.43 CWEN : 7.50
PS Ratio ORA : 7.68 CWEN : 2.65
PB Ratio ORA : 3.50 CWEN : 0.26
Total Revenue (TTM) ORA : $1.16B CWEN : $1.49B
Gross Profit (TTM) ORA : $320.13M CWEN : $543.00M
EBITDA (TTM) ORA : $398.22M CWEN : $878.00M

Return for Risk

ORA vs. CWEN — Risk / Return Rank

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

ORA

ORA Risk / Return Rank: 92
ORA Sharpe Ratio Rank: 95
ORA Sortino Ratio Rank: 93
ORA Omega Ratio Rank: 92
ORA Calmar Ratio Rank: 90
ORA Martin Ratio Rank: 91

CWEN

CWEN Risk / Return Rank: 76
CWEN Sharpe Ratio Rank: 78
CWEN Sortino Ratio Rank: 73
CWEN Omega Ratio Rank: 72
CWEN Calmar Ratio Rank: 80
CWEN Martin Ratio Rank: 78

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.

ORA vs. CWEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ormat Technologies, Inc. (ORA) and Clearway Energy, Inc. (CWEN). 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.

	ORA	CWEN	Difference
Sharpe ratio: Return per unit of total volatility	3.12	1.30	+1.81
Sortino ratio: Return per unit of downside risk	3.78	1.91	+1.87
Omega ratio: Gain probability vs. loss probability	1.49	1.24	+0.25
Calmar ratio: Return relative to maximum drawdown	4.71	2.67	+2.04
Martin ratio: Return relative to average drawdown	13.39	6.08	+7.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ORA vs. CWEN - Sharpe Ratio Comparison

The current ORA Sharpe Ratio is 3.12, which is higher than the CWEN Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of ORA and CWEN, 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

	ORA	CWEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	1.30	+1.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.48	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.51	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.24	+0.09

Drawdowns

ORA vs. CWEN - Drawdown Comparison

The maximum ORA drawdown since its inception was -73.96%, smaller than the maximum CWEN drawdown of -79.41%. Use the drawdown chart below to compare losses from any high point for ORA and CWEN.

Drawdown Indicators

	ORA	CWEN	Difference
Max Drawdown Largest peak-to-trough decline	-73.96%	-79.41%	+5.45%
Max Drawdown (1Y) Largest decline over 1 year	-20.05%	-14.15%	-5.90%
Max Drawdown (3Y) Largest decline over 3 years	-32.61%	-37.95%	+5.34%
Max Drawdown (5Y) Largest decline over 5 years	-41.21%	-52.09%	+10.88%
Max Drawdown (10Y) Largest decline over 10 years	-52.39%	-52.09%	-0.30%
Current Drawdown Current decline from peak	0.00%	-2.30%	+2.30%
Average Drawdown Average peak-to-trough decline	-30.61%	-35.47%	+4.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.03%	6.20%	+0.83%

Volatility

ORA vs. CWEN - Volatility Comparison

Ormat Technologies, Inc. (ORA) has a higher volatility of 11.39% compared to Clearway Energy, Inc. (CWEN) at 7.94%. This indicates that ORA's price experiences larger fluctuations and is considered to be riskier than CWEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORA	CWEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.39%	7.94%	+3.45%
Volatility (6M) Calculated over the trailing 6-month period	24.70%	21.80%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	30.31%	28.95%	+1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.14%	30.24%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.14%	31.31%	+0.83%

Dividends

ORA vs. CWEN - Dividend Comparison

ORA's dividend yield for the trailing twelve months is around 0.33%, less than CWEN's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWEN Clearway Energy, Inc.	4.53%	5.32%	6.36%	5.62%	4.48%	3.68%	3.29%	4.01%	7.29%	5.81%	5.98%	6.88%
ORA Ormat Technologies, Inc.	0.33%	0.43%	0.71%	0.63%	0.56%	0.61%	0.49%	0.59%	1.01%	0.91%	0.97%	0.71%

Financials

ORA vs. CWEN - Profitability Comparison

The chart below illustrates the profitability comparison between Ormat Technologies, Inc. and Clearway Energy, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ORA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ormat Technologies, Inc. reported a gross profit of 120.37M and revenue of 403.91M. Therefore, the gross margin over that period was 29.8%.

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%.

ORA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ormat Technologies, Inc. reported an operating income of -4.13M and revenue of 403.91M, resulting in an operating margin of -1.0%.

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%.

ORA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ormat Technologies, Inc. reported a net income of 44.07M and revenue of 403.91M, resulting in a net margin of 10.9%.

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%.

Frequently Asked Questions

Can I hold both ORA and CWEN in my portfolio?

ORA and CWEN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ORA or CWEN?

ORA has higher volatility (11.39%) compared to CWEN (7.94%). In terms of maximum drawdown, ORA dropped -73.96% vs CWEN's -79.41%.

Which has better risk-adjusted returns?

ORA currently has the higher Sharpe Ratio (3.12 vs 1.30), 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.