Montauk Renewables Correlations
| MNTK Stock | USD 3.80 0.01 0.26% |
The correlation of Montauk Renewables 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 Montauk Renewables moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Montauk Renewables 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.
Very weak diversification
The correlation between Montauk Renewables and NYA is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Montauk Renewables and NYA in the same portfolio, assuming nothing else is changed.
Montauk |
The ability to find closely correlated positions to Montauk Renewables could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Montauk Renewables 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 Montauk Renewables - 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 Montauk Renewables to buy it.
Moving together with Montauk Stock
| 0.8 | ELPC | Companhia Paranaense | PairCorr |
| 0.69 | BIP | Brookfield Infrastructure Earnings Call This Week | PairCorr |
| 0.74 | ELP | Companhia Paranaense Potential Growth | PairCorr |
| 0.75 | OTTR | Otter Tail Financial Report 6th of May 2024 | PairCorr |
| 0.95 | HE | Hawaiian Electric Downward Rally | PairCorr |
Moving against Montauk Stock
| 0.88 | NI | NiSource Financial Report 1st of May 2024 | PairCorr |
| 0.87 | D | Dominion Energy Financial Report 3rd of May 2024 | PairCorr |
| 0.78 | ES | Eversource Energy Earnings Call This Week | PairCorr |
| 0.77 | FE | FirstEnergy | PairCorr |
| 0.74 | NWE | NorthWestern | PairCorr |
| 0.71 | SO | Southern | PairCorr |
| 0.67 | CIG | Companhia Energetica Financial Report 2nd of May 2024 | PairCorr |
| 0.67 | SR | Spire Inc Earnings Call This Week | PairCorr |
| 0.63 | AVA | Avista Earnings Call This Week | PairCorr |
| 0.47 | UTL | UNITIL Financial Report 7th of May 2024 | PairCorr |
| 0.44 | ED | Consolidated Edison Financial Report 2nd of May 2024 | PairCorr |
| 0.44 | VGAS | Verde Clean Fuels | PairCorr |
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 Montauk Stock performing well and Montauk Renewables 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 Montauk Renewables' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AVA | 0.98 | 0.06 | 0.01 | 0.25 | 1.22 | 2.10 | 8.48 | |||
| ALE | 0.98 | (0.04) | (0.03) | 0.04 | 1.18 | 2.19 | 6.01 | |||
| BKH | 1.11 | 0.04 | 0.04 | 0.11 | 1.33 | 2.94 | 7.36 | |||
| ELP | 1.34 | (0.25) | 0.00 | (0.21) | 0.00 | 2.71 | 7.62 | |||
| CIG | 1.31 | 0.04 | 0.01 | 0.13 | 1.75 | 2.67 | 7.02 | |||
| NWE | 0.89 | (0.01) | 0.00 | 0.07 | 1.11 | 1.76 | 8.90 | |||
| EONGY | 1.16 | 0.40 | 0.24 | (1.28) | 0.84 | 3.21 | 7.25 | |||
| CIG-C | 1.41 | (0.05) | 0.00 | (0.06) | 0.00 | 3.20 | 10.10 | |||
| OTTR | 1.22 | (0.14) | 0.00 | (0.01) | 0.00 | 2.82 | 13.66 | |||
| UTL | 1.14 | (0.06) | (0.01) | 0.04 | 1.29 | 2.56 | 8.25 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Montauk Renewables 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 Watchlist Optimization Now
Watchlist OptimizationOptimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |
| All Next | Launch Module |
Montauk Renewables Corporate Management
Elected by the shareholders, the Montauk Renewables' board of directors comprises two types of representatives: Montauk Renewables inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Montauk. The board's role is to monitor Montauk Renewables' management team and ensure that shareholders' interests are well served. Montauk Renewables' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Montauk Renewables' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Scott Hill | VP Devel | Profile | |
| James Shaw | Vice Operations | Profile | |
| BS CPA | CEO Pres | Profile | |
| BSc CPA | CFO Treasurer | Profile | |
| John Ciroli | Chief Secretary | Profile | |
| Sharon Frank | Health Environmental | Profile |
Already Invested in Montauk Renewables?
The danger of trading Montauk Renewables 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 Montauk Renewables 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 Montauk Renewables. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Montauk Renewables 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 Montauk Renewables 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 Montauk 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 Montauk Renewables Stock. Highlighted below are key reports to facilitate an investment decision about Montauk Renewables Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Montauk Renewables. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. For more information on how to buy Montauk Stock please use our How to buy in Montauk Stock guide.You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Complementary Tools for Montauk Stock analysis
When running Montauk Renewables' price analysis, check to measure Montauk Renewables' 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 Montauk Renewables is operating at the current time. Most of Montauk Renewables' value examination focuses on studying past and present price action to predict the probability of Montauk Renewables' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Montauk Renewables' price. Additionally, you may evaluate how the addition of Montauk Renewables to your portfolios can decrease your overall portfolio volatility.
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |
Is Montauk Renewables' 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 Montauk Renewables. If investors know Montauk 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 Montauk Renewables listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.20) | Earnings Share 0.11 | Revenue Per Share 1.234 | Quarterly Revenue Growth (0.06) | Return On Assets 0.0453 |
The market value of Montauk Renewables is measured differently than its book value, which is the value of Montauk that is recorded on the company's balance sheet. Investors also form their own opinion of Montauk Renewables' value that differs from its market value or its book value, called intrinsic value, which is Montauk Renewables' 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 Montauk Renewables' market value can be influenced by many factors that don't directly affect Montauk Renewables' 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 Montauk Renewables' value and its price as these two are different measures arrived at by different means. Investors typically determine if Montauk Renewables is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Montauk Renewables' 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.