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: 9.68 0.00 0.00%). 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 lost 3.5%, finishing at 165.5. The NASDAQ and S&P 500 declined 1.6% and 2.6% for the same period.

The wind sector gained 0.3% for the week, the only sector in positive territory. Japan Wind Development and a couple of European wind companies pulled up the sector. Wind and solar energy are the largest sectors in the index and solar was at the other end of the performance spectrum for the week. Solar energy was the worst performing sector, losing 7.7%. Evergreen Solar led the way down shedding 26.9% of its value.

In other sector results, energy efficiency lost 5.4% in spite of Cree gaining 10.4% on growing revenue and profits. Power storage was a similar story, down 3.4%. Several battery makers had losses of 12% to 19% while Belgian battery material manufacturer gained 13%. The sectors were not moving en mass last week.

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

NEX top gainers since 20/01/09
Umicore UMI + 13.0%
Japan Wind Development 2766 + 11.7%
Novozymes A/S Series B NZYM-B + 11.3%
Cree CREE + 10.4%
Canadian Hydro Developers KHD + 9.3%

NEX top losers since 20/01/09
Evergreen Solar ESLR - 26.4%
Meidensha 6508 - 21.5%
JA Solar Holdings JASO - 20.6%
Johnson Controls JCI - 20.3%
Ultralife ULBI - 19.9%



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