Clean Energy Correlations

WIQ Stock

EUR 1.76 0.03 1.68%

The current 90-days correlation between Clean Energy Fuels and Compagnie Plastic Omnium is 0.23 (i.e., Modest 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

Good diversification

The correlation between Clean Energy Fuels and DJI is -0.04 (i.e., Good 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.

The ability to find closely correlated positions to Clean Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Clean Energy 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 Clean Energy - 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 Clean Energy Fuels to buy it.

Moving together with Clean Stock

0.79	MPN	Marathon Petroleum Corp	Pair Corr
0.78	V1L	Valero Energy Earnings Call This Week	Pair Corr
0.95	R66	Phillips 66 Earnings Call This Week	Pair Corr
0.74	NEF	Neste Oyj Earnings Call This Week	Pair Corr
0.7	SEBC	Skandinaviska Enskilda	Pair Corr
0.83	AG8	AGILENT TECH	Pair Corr
0.69	KGHA	KGHM Polska Miedz	Pair Corr
0.76	1W3	WSP Global	Pair Corr
0.8	HEI	Heidelberg Materials	Pair Corr
0.76	FA2	FORWARD AIR P	Pair Corr
0.85	KOM1	Komatsu	Pair Corr
0.83	E908	Lyxor 1	Pair Corr
0.81	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Clean Stock

0.47	7F8	PTT OILRETBUS FOR	Pair Corr
0.81	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	EZM	1NX	BAK	A4S	SYU1	GTR	YRB
EZM		0.85	0.85	0.82	0.87	0.2	0.79	EZM
1NX	0.85		0.83	0.76	0.79	0.07	0.79	1NX
BAK	0.85	0.83		0.86	0.8	0.36	0.73	BAK
A4S	0.82	0.76	0.86		0.88	0.26	0.73	A4S
SYU1	0.87	0.79	0.8	0.88		0.17	0.9	SYU1
GTR	0.2	0.07	0.36	0.26	0.17		0.09	GTR
YRB	0.79	0.79	0.73	0.73	0.9	0.09		YRB
	EZM	1NX	BAK	A4S	SYU1	GTR	YRB

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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
EZM	1.66	0.58	0.27	2.88	1.20	(1.93)	4.91	(2.57)	9.43
1NX	1.34	0.31	0.03	(0.44)	2.51	(1.41)	3.78	(2.05)	18.51
BAK	1.22	0.24	0.07	2.07	1.32	(1.44)	2.55	(2.65)	6.36
A4S	1.10	0.16	0.02	(13.83)	1.12	(1.30)	2.95	(1.82)	8.58
SYU1	1.67	0.45	0.17	(3.04)	1.40	(2.11)	4.15	(2.52)	10.14
GTR	2.22	0.13	0.00	(1.40)	2.22	(2.66)	6.20	(4.18)	17.53
YRB	1.34	0.45	0.22	1.05	1.05	(1.82)	2.93	(1.94)	11.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in Clean Energy 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.

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Clean Energy Corporate Management

Elected by the shareholders, the Clean Energy's board of directors comprises two types of representatives: Clean Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Clean. The board's role is to monitor Clean Energy's management team and ensure that shareholders' interests are well served. Clean Energy'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, Clean Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Robert Vreeland	Chief Officer	Profile
Barclay Corbus	Sr Fuels	Profile
Gary Foster	Sr Communications	Profile
Andrew Littlefair	President, CoFounder	Profile
Mitchell Pratt	COO Sec	Profile
Jim Systma	VP Counsel	Profile
Chad Lindholm	VP Sales	Profile

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