Clean Energy Correlations

CETY Stock

USD 0.76 0.01 1.30%

The current 90-days correlation between Clean Energy Technologies and Polar Power is 0.05 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Clean Energy Correlation With Market

Modest diversification

The correlation between Clean Energy Technologies and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clean Energy Technologies 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 Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Clean Stock

0.85	HD	Home Depot	Pair Corr
0.75	PG	Procter Gamble	Pair Corr

Moving against Clean Stock

0.86	PPERY	Bank Mandiri Persero	Pair Corr
0.84	CASXF	Casa Minerals	Pair Corr
0.83	FTV	Fortive Corp	Pair Corr
0.82	BW	Babcock Wilcox Enter	Pair Corr
0.8	TLK	Telkom Indonesia Tbk	Pair Corr
0.79	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.69	BWEN	Broadwind Energy	Pair Corr
0.63	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.62	PPERF	Bank Mandiri Persero	Pair Corr
0.43	PBCRY	Bank Central Asia	Pair Corr
0.32	FHELF	First Helium	Pair Corr
0.87	CSCO	Cisco Systems	Pair Corr
0.77	BAC	Bank of America Earnings Call Next Week	Pair Corr
0.76	AXP	American Express	Pair Corr
0.74	MRK	Merck Company	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.65	KO	Coca Cola Sell-off Trend	Pair Corr
0.6	WMT	Walmart Common Stock	Pair Corr
0.59	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.57	IBM	International Business	Pair Corr
0.56	MCD	McDonalds	Pair Corr
0.45	MMM	3M Company	Pair Corr

Related Correlations Analysis

	POLA	CVR	ZOOZ	SOAR	CLWT	MWG	INLF	KITT	MNTS	EHGO
POLA		-0.56	0.88	0.85	0.57	0.21	0.84	0.88	0.93	0.9	POLA
CVR	-0.56		-0.36	-0.42	0.19	0.2	-0.7	-0.34	-0.54	-0.49	CVR
ZOOZ	0.88	-0.36		0.82	0.73	0.36	0.69	0.93	0.91	0.93	ZOOZ
SOAR	0.85	-0.42	0.82		0.48	0.18	0.6	0.85	0.86	0.86	SOAR
CLWT	0.57	0.19	0.73	0.48		0.45	0.32	0.75	0.62	0.65	CLWT
MWG	0.21	0.2	0.36	0.18	0.45		0.06	0.28	0.17	0.24	MWG
INLF	0.84	-0.7	0.69	0.6	0.32	0.06		0.64	0.81	0.7	INLF
KITT	0.88	-0.34	0.93	0.85	0.75	0.28	0.64		0.92	0.96	KITT
MNTS	0.93	-0.54	0.91	0.86	0.62	0.17	0.81	0.92		0.94	MNTS
EHGO	0.9	-0.49	0.93	0.86	0.65	0.24	0.7	0.96	0.94		EHGO
	POLA	CVR	ZOOZ	SOAR	CLWT	MWG	INLF	KITT	MNTS	EHGO

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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

EHGO	+ 0.96	KITT
EHGO	+ 0.94	MNTS
MNTS	+ 0.93	POLA
KITT	+ 0.93	ZOOZ
EHGO	+ 0.93	ZOOZ
MNTS	+ 0.92	KITT

High negative correlations

INLF	- 0.7	CVR
CVR	- 0.56	POLA
MNTS	- 0.54	CVR
EHGO	- 0.49	CVR
SOAR	- 0.42	CVR
ZOOZ	- 0.36	CVR

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
POLA	4.86	(0.89)	0.00	(0.56)	0.00	0.00	10.93	(10.51)	34.33
CVR	2.66	0.47	0.14	0.88	2.60	(3.32)	6.82	(4.16)	21.37
ZOOZ	4.93	(2.04)	0.00	(0.61)	0.00	0.00	11.36	(10.17)	65.52
SOAR	7.27	(1.08)	0.00	(0.17)	0.00	0.00	13.92	(15.23)	66.57
CLWT	2.20	(0.16)	0.00	(0.13)	0.00	0.00	4.10	(4.24)	16.90
MWG	3.38	0.02	0.00	0.10	4.20	(7.53)	8.00	(7.41)	60.59
INLF	2.57	(0.59)	0.00	(0.37)	0.00	0.00	5.63	(6.49)	20.60
KITT	8.63	(1.15)	0.00	(0.10)	0.00	0.00	14.20	(14.95)	141.67
MNTS	8.61	(1.23)	0.00	(0.09)	0.00	0.00	17.86	(16.77)	64.45
EHGO	3.61	(1.41)	0.00	3.38	0.00	0.00	5.56	(9.30)	28.72

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