OPAL Fuels Correlations

OPAL Stock

USD 2.52 0.02 0.80%

The current 90-days correlation between OPAL Fuels and Montauk Renewables is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OPAL Fuels moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OPAL Fuels moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

OPAL Fuels Correlation With Market

Significant diversification

The correlation between OPAL Fuels and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OPAL Fuels and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OPAL 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 nation.

For more information on how to buy OPAL Stock please use our How to buy in OPAL Stock guide.

Moving together with OPAL Stock

0.82	UGI	UGI Corporation	Pair Corr
0.73	BIPC	Brookfield Infrastructure	Pair Corr
0.74	CTRI	Centuri Holdings,	Pair Corr
0.61	D	Dominion Energy	Pair Corr
0.83	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.69	RNWWW	ReNew Energy Global	Pair Corr
0.83	ELPC	Companhia Paranaense	Pair Corr
0.61	ENIC	Enel Chile SA Earnings Call This Week	Pair Corr

Moving against OPAL Stock

0.83	NJR	NewJersey Resources	Pair Corr
0.81	CPK	Chesapeake Utilities	Pair Corr
0.71	SPH	Suburban Propane Partners	Pair Corr
0.7	NWN	Northwest Natural Gas	Pair Corr
0.66	ED	Consolidated Edison	Pair Corr
0.6	SR	Spire Inc	Pair Corr
0.56	OGS	One Gas	Pair Corr
0.54	ATO	Atmos Energy	Pair Corr
0.52	BKH	Black Hills	Pair Corr
0.38	FE	FirstEnergy	Pair Corr
0.79	AVA	Avista	Pair Corr
0.78	EXC	Exelon	Pair Corr
0.72	CWT	California Water Service	Pair Corr
0.71	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.63	DUK	Duke Energy	Pair Corr
0.62	WTRG	Essential Utilities	Pair Corr
0.62	AEP	American Electric Power	Pair Corr
0.6	AEE	Ameren Corp	Pair Corr

Related Correlations Analysis

	NJR	OGS	CPK	NWN	NI	MNTK	KITT	PET
NJR		0.84	0.91	0.91	-0.24	-0.02	0.23	-0.11	NJR
OGS	0.84		0.84	0.88	-0.06	-0.21	0.09	-0.04	OGS
CPK	0.91	0.84		0.88	-0.06	-0.03	0.09	-0.14	CPK
NWN	0.91	0.88	0.88		0.0	0.02	0.25	0.02	NWN
NI	-0.24	-0.06	-0.06	0.0		0.19	0.03	0.07	NI
MNTK	-0.02	-0.21	-0.03	0.02	0.19		0.22	0.23	MNTK
KITT	0.23	0.09	0.09	0.25	0.03	0.22		0.14	KITT
PET	-0.11	-0.04	-0.14	0.02	0.07	0.23	0.14		PET
	NJR	OGS	CPK	NWN	NI	MNTK	KITT	PET

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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

CPK	+ 0.91	NJR
NWN	+ 0.91	NJR
NWN	+ 0.88	OGS
NWN	+ 0.88	CPK
OGS	+ 0.84	NJR
CPK	+ 0.84	OGS

High negative correlations

NI	- 0.24	NJR
MNTK	- 0.21	OGS
PET	- 0.14	CPK
PET	- 0.11	NJR
NI	- 0.06	CPK
NI	- 0.06	OGS

Risk-Adjusted Indicators

There is a big difference between OPAL Stock performing well and OPAL Fuels 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 OPAL Fuels' 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
NJR	0.81	(0.04)	0.00	0.59	0.00	0.00	1.64	(1.70)	4.75
OGS	1.02	(0.08)	0.00	(0.13)	0.00	0.00	2.18	(2.34)	6.71
CPK	1.11	(0.19)	0.00	(0.33)	0.00	0.00	1.77	(2.90)	6.81
NWN	0.93	(0.04)	(0.10)	(0.01)	1.36	(0.91)	2.20	(1.94)	6.27
NI	0.91	0.01	(0.05)	0.16	1.19	(0.92)	2.15	(1.95)	6.03
MNTK	4.08	0.33	0.02	(0.36)	4.94	(4.46)	8.62	(7.47)	27.41
KITT	4.11	(0.06)	0.03	0.11	4.73	(4.81)	9.57	(7.84)	27.96
PET	9.06	0.69	0.07	0.33	8.81	(19.81)	23.08	(22.17)	137.09

OPAL Fuels Corporate Management

Scott Edelbach	Executive Fuels	Profile
Scott Contino	Interim Officer	Profile
Kazi Hasan	Chief Officer	Profile
Anthony Falbo	Chief Officer	Profile
Jason Stewart	Director Marketing	Profile
Hugh Donnell	Senior Sustainability	Profile
Ann CTP	Chief Officer	Profile

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