CleanSpark Correlations
| CLSK Stock | USD 15.94 0.21 1.30% |
The correlation of CleanSpark 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CleanSpark moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CleanSpark moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between CleanSpark and NYA is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CleanSpark and NYA in the same portfolio, assuming nothing else is changed.
CleanSpark |
The ability to find closely correlated positions to CleanSpark could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CleanSpark when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back CleanSpark - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling CleanSpark to buy it.
Moving together with CleanSpark Stock
| 0.66 | WU | Western Union Financial Report 7th of May 2024 | PairCorr |
| 0.7 | FI | Fiserv Inc Symbol Change | PairCorr |
Moving against CleanSpark Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between CleanSpark Stock performing well and CleanSpark 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 CleanSpark'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PLUR | 4.06 | 0.19 | 0.03 | 0.27 | 4.82 | 9.39 | 27.36 | |||
| BLRX | 4.01 | (0.73) | 0.00 | (0.80) | 0.00 | 7.77 | 38.21 | |||
| PPBT | 4.42 | (0.28) | 0.00 | (0.06) | 0.00 | 8.89 | 46.45 | |||
| PMVP | 2.99 | 0.20 | 0.04 | 0.29 | 3.94 | 6.67 | 21.67 | |||
| APVO | 7.84 | (2.41) | 0.00 | (0.42) | 0.00 | 15.52 | 81.87 | |||
| PLX | 2.73 | (0.33) | 0.00 | (6.27) | 0.00 | 6.14 | 16.16 | |||
| CRVS | 3.13 | (0.20) | (0.02) | 0.00 | 3.38 | 7.45 | 18.48 | |||
| PHIO | 5.24 | 0.68 | 0.09 | 0.58 | 6.19 | 13.33 | 45.35 | |||
| CLGN | 2.25 | 0.12 | 0.03 | 0.27 | 2.45 | 5.77 | 11.97 | |||
| KROS | 2.64 | 0.04 | 0.03 | 0.09 | 3.23 | 5.93 | 12.93 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in CleanSpark without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Sectors Now
SectorsList of equity sectors categorizing publicly traded companies based on their primary business activities |
| All Next | Launch Module |
CleanSpark Corporate Management
Elected by the shareholders, the CleanSpark's board of directors comprises two types of representatives: CleanSpark inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CleanSpark. The board's role is to monitor CleanSpark's management team and ensure that shareholders' interests are well served. CleanSpark's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, CleanSpark's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Rachel Silverstein | SVP Counsel | Profile | |
| Bernardo Schucman | VP Division | Profile | |
| Gary CPA | Chief Officer | Profile | |
| Bradley Audiss | Vice Operations | Profile | |
| Scott Garrison | Senior Growth | Profile | |
| Owen Cadwalader | VP Operations | Profile | |
| Isaac Holyoak | Chief Officer | Profile |
Already Invested in CleanSpark?
The danger of trading CleanSpark is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of CleanSpark is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than CleanSpark. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile CleanSpark is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether CleanSpark is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if CleanSpark Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Cleanspark Stock. Highlighted below are key reports to facilitate an investment decision about Cleanspark Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CleanSpark. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state. For more information on how to buy CleanSpark Stock please use our How to buy in CleanSpark Stock guide.You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Complementary Tools for CleanSpark Stock analysis
When running CleanSpark's price analysis, check to measure CleanSpark's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy CleanSpark is operating at the current time. Most of CleanSpark's value examination focuses on studying past and present price action to predict the probability of CleanSpark's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CleanSpark's price. Additionally, you may evaluate how the addition of CleanSpark to your portfolios can decrease your overall portfolio volatility.
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Stocks Directory Find actively traded stocks across global markets | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation |
Is CleanSpark's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of CleanSpark. If investors know CleanSpark will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about CleanSpark listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.69) | Revenue Per Share 1.639 | Quarterly Revenue Growth 1.652 | Return On Assets (0.07) | Return On Equity (0.12) |
The market value of CleanSpark is measured differently than its book value, which is the value of CleanSpark that is recorded on the company's balance sheet. Investors also form their own opinion of CleanSpark's value that differs from its market value or its book value, called intrinsic value, which is CleanSpark's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because CleanSpark's market value can be influenced by many factors that don't directly affect CleanSpark's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between CleanSpark's value and its price as these two are different measures arrived at by different means. Investors typically determine if CleanSpark is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CleanSpark's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.