Clean Energy Correlations

CLNE Stock

USD 2.18 0.01 0.46%

The current 90-days correlation between Clean Energy Fuels and Aemetis is -0.22 (i.e., Very good diversification). The correlation of Clean Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Clean Energy Correlation With Market

Very weak diversification

The correlation between Clean Energy Fuels and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clean Energy Fuels and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Clean Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Clean Energy Fuels. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Clean Stock

0.92	DINO	HF Sinclair Corp	Pair Corr
0.93	DK	Delek Energy	Pair Corr
0.93	CVI	CVR Energy	Pair Corr
0.89	DKL	Delek Logistics Partners	Pair Corr
0.64	IEP	Icahn Enterprises	Pair Corr
0.95	MPC	Marathon Petroleum Corp	Pair Corr
0.94	PBF	PBF Energy	Pair Corr
0.93	PSX	Phillips 66	Pair Corr
0.96	VLO	Valero Energy	Pair Corr
0.95	WKC	World Kinect	Pair Corr
0.89	PARR	Par Pacific Holdings	Pair Corr
0.7	AMTX	Aemetis	Pair Corr
0.84	E	Eni SpA ADR	Pair Corr
0.75	AM	Antero Midstream Partners	Pair Corr
0.7	AR	Antero Resources Corp	Pair Corr
0.86	BP	BP PLC ADR Aggressive Push	Pair Corr
0.61	EC	Ecopetrol SA ADR	Pair Corr
0.73	EE	Excelerate Energy	Pair Corr
0.81	ET	Energy Transfer LP	Pair Corr
0.86	NE	Noble plc	Pair Corr
0.87	PR	Permian Resources Sell-off Trend	Pair Corr
0.74	SD	SandRidge Energy	Pair Corr
0.8	SM	SM Energy	Pair Corr
0.72	SU	Suncor Energy	Pair Corr
0.87	TK	Teekay	Pair Corr
0.78	TS	Tenaris SA ADR	Pair Corr
0.8	DLNG	Dynagas LNG Partners	Pair Corr
0.68	VIST	Vista Oil Gas	Pair Corr

Moving against Clean Stock

0.67	SGU	Star Gas Partners	Pair Corr
0.65	HP	Helmerich and Payne	Pair Corr
0.53	PTLE	PTL LTD Ordinary	Pair Corr
0.45	CAPL	Crossamerica Partners	Pair Corr
0.33	TMDE	TMD Energy Limited	Pair Corr
0.48	ANNAW	AleAnna, Warrant	Pair Corr
0.43	EONR	EON Resources Symbol Change	Pair Corr
0.43	BSM	Black Stone Minerals	Pair Corr
0.39	FLOC	Flowco Holdings	Pair Corr
0.38	DMLP	Dorchester Minerals	Pair Corr
0.38	VIVK	Vivakor	Pair Corr
0.37	BRN	Barnwell Industries	Pair Corr

Related Correlations Analysis

	AMTX	CVI	MPC	DK	WPRT	CLOV	FCEL	WKHS
AMTX		0.8	0.7	0.82	0.76	-0.66	0.58	0.56	AMTX
CVI	0.8		0.97	0.98	0.57	-0.75	0.74	0.15	CVI
MPC	0.7	0.97		0.96	0.5	-0.7	0.71	0.05	MPC
DK	0.82	0.98	0.96		0.58	-0.77	0.78	0.15	DK
WPRT	0.76	0.57	0.5	0.58		-0.55	0.32	0.53	WPRT
CLOV	-0.66	-0.75	-0.7	-0.77	-0.55		-0.77	0.0	CLOV
FCEL	0.58	0.74	0.71	0.78	0.32	-0.77		-0.07	FCEL
WKHS	0.56	0.15	0.05	0.15	0.53	0.0	-0.07		WKHS
	AMTX	CVI	MPC	DK	WPRT	CLOV	FCEL	WKHS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DK	+ 0.98	CVI
MPC	+ 0.97	CVI
DK	+ 0.96	MPC
DK	+ 0.82	AMTX
CVI	+ 0.8	AMTX
FCEL	+ 0.78	DK

High negative correlations

FCEL	- 0.77	CLOV
CLOV	- 0.77	DK
CLOV	- 0.75	CVI
CLOV	- 0.7	MPC
CLOV	- 0.66	AMTX
CLOV	- 0.55	WPRT

Risk-Adjusted Indicators

There is a big difference between Clean Stock performing well and Clean Energy Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Clean Energy's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMTX	4.28	1.66	0.22	(0.97)	4.04	(5.33)	12.03	(6.99)	23.44
CVI	2.35	1.13	0.47	1.87	1.52	(3.02)	6.03	(3.21)	19.44
MPC	1.46	0.39	0.18	0.58	1.52	(1.59)	3.66	(2.44)	18.38
DK	2.87	0.98	0.29	0.95	2.46	(3.37)	8.76	(4.97)	21.30
WPRT	2.34	0.34	(0.04)	(0.13)	2.82	(2.70)	4.66	(4.47)	19.29
CLOV	2.57	(0.22)	0.00	(0.13)	0.00	0.00	5.54	(6.29)	19.36
FCEL	5.11	0.32	0.07	0.48	5.15	(6.04)	15.46	(7.86)	39.41
WKHS	5.36	1.71	0.26	(2.33)	3.95	(7.19)	11.82	(6.80)	21.51

Clean Energy Corporate Management

Barclay Corbus	Sr. VP of Strategic Devel.	Profile
James Sytsma	Corporate VP	Profile
Robert Vreeland	Chief Officer	Profile
Gary Foster	Senior Communications	Profile
Robert CPA	Chief Officer	Profile
James Harger	Sr Officer	Profile

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