Typically, as the bond length increases, the potential energy of the covalent bond increases. This is because as the atoms move farther apart, the attractive forces between their nuclei and shared electrons weaken. As a result, the potential energy of the bond increases, indicating a less stable configuration.
Conversely, as the bond length decreases, the potential energy decreases as well. When the atoms are closer together, the attractive forces between the nuclei and shared electrons are stronger, leading to a lower potential energy and a more stable bond.