Weekly Review Of PowerShares Global Clean Energy ETF

Each week I recap the results of the WilderHill New Energy Global Innovation Index, symbol NEX, and published by New Energy Finance Ltd. The index consists of approximately 90 stocks from 22 countries. The NEX is the tracking index for the PowerShares Global Clean Energy Portfolio ETF (PBD). For reference, the NEX has a 52 week high of 436.21 and closed 2008 at 177.99.

For the week ending at market close on Monday the NEX dropped 5.2%, finishing at 167.36. The NASDAQ (^IXIC) and S&P 500 (^GSPC) were off 3.6% and 4.9% for the same period. All sectors in the index were in negative territory for the week.

The two largest sectors in the index, solar energy and wind energy, were down 4.5% and 6%. Wind energy includes carbon fiber manufacturer Zoltek which shed over 22%. The sector with the biggest loss was ‘energy conversion’  which lost 11.8%. Top loser Capstone Turbines is in this sector. The best of bad news was from the power storage companies, which as a group were off 1.4% held up by the nice gain in plug-in hybrid car manufacturer BYD.

Here are the best and worst performing stocks from the NEX for the week:

NEX top gainers since 10/02/09
Zhejiang Yankon 600261 + 13.2%
Byd Co 1211 + 11.3%
Maxwell Technologies (MXWL) + 11.3%
5N Plus (VNP) + 9.3%
Boralex (BLX) + 5.7%

NEX top losers since 10/02/09
Capstone Turbine (CPST) - 23.6%
Zoltek (ZOLT) - 22.7%
Kingspan Group (KSP) - 22.1%
Climate Exchange (CLE) - 21.1%
Ener1 (HEV) - 19.4%

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