Clean Energy Correlations

CETY Stock

USD 0.92 0.15 19.29%

The current 90-days correlation between Clean Energy Technologies and Polar Power is 0.03 (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 0.27 (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 real.

Moving together with Clean Stock

0.88

POLA

Polar Power

Pair Corr

Moving against Clean Stock

0.9	FYBR	Frontier Communications	Pair Corr
0.79	NMIH	NMI Holdings	Pair Corr
0.75	WSFS	WSFS Financial	Pair Corr
0.72	BOF	BranchOut Food Common	Pair Corr
0.71	SANM	Sanmina	Pair Corr
0.68	BWEN	Broadwind Energy	Pair Corr
0.62	AMKBY	AP Moeller Maersk	Pair Corr
0.55	RBGPF	Reckitt Benckiser	Pair Corr
0.54	KCRD	Kindcard	Pair Corr
0.51	BRK-A	Berkshire Hathaway	Pair Corr
0.34	JACK	Jack In	Pair Corr
0.33	BKNG	Booking Holdings	Pair Corr
0.33	EGBN	Eagle Bancorp Earnings Call This Week	Pair Corr
0.85	WEICF	Weichai Power	Pair Corr
0.81	ATI	Allegheny Technologies	Pair Corr
0.78	ACR-PC	ACRES Commercial Realty	Pair Corr
0.76	PNGZF	Paringa Resources	Pair Corr
0.74	F	Ford Motor	Pair Corr
0.7	ASXSF	Elysee Development Corp	Pair Corr
0.69	ACN	Accenture plc	Pair Corr
0.67	BHKLY	BOC Hong Kong	Pair Corr
0.43	DQ	Daqo New Energy	Pair Corr

Related Correlations Analysis

	POLA	CVR	ZOOZ	SOAR	CLWT	MWG	INLF	KITT	MNTS	EHGO
POLA		-0.65	0.85	0.87	0.39	0.15	0.85	0.87	0.92	0.91	POLA
CVR	-0.65		-0.42	-0.52	0.32	0.16	-0.77	-0.44	-0.58	-0.59	CVR
ZOOZ	0.85	-0.42		0.86	0.58	0.29	0.64	0.91	0.88	0.91	ZOOZ
SOAR	0.87	-0.52	0.86		0.42	0.14	0.63	0.91	0.89	0.91	SOAR
CLWT	0.39	0.32	0.58	0.42		0.47	0.14	0.56	0.4	0.44	CLWT
MWG	0.15	0.16	0.29	0.14	0.47		-0.01	0.2	0.09	0.14	MWG
INLF	0.85	-0.77	0.64	0.63	0.14	-0.01		0.63	0.79	0.71	INLF
KITT	0.87	-0.44	0.91	0.91	0.56	0.2	0.63		0.89	0.95	KITT
MNTS	0.92	-0.58	0.88	0.89	0.4	0.09	0.79	0.89		0.92	MNTS
EHGO	0.91	-0.59	0.91	0.91	0.44	0.14	0.71	0.95	0.92		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	+ 0.95	KITT
MNTS	+ 0.92	POLA
EHGO	+ 0.92	MNTS
EHGO	+ 0.91	POLA
KITT	+ 0.91	ZOOZ
EHGO	+ 0.91	ZOOZ

High negative correlations

INLF	- 0.77	CVR
CVR	- 0.65	POLA
EHGO	- 0.59	CVR
MNTS	- 0.58	CVR
SOAR	- 0.52	CVR
KITT	- 0.44	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	4.67	(1.47)	0.00	(0.77)	0.00	0.00	10.93	(14.29)	27.21
CVR	2.65	0.41	0.16	0.30	2.58	(3.20)	6.82	(3.64)	21.37
ZOOZ	4.92	(1.92)	0.00	(0.81)	0.00	0.00	10.34	(10.17)	65.52
SOAR	7.23	(1.72)	0.00	(0.30)	0.00	0.00	13.92	(15.23)	66.57
CLWT	2.05	(0.15)	0.00	(0.38)	0.00	0.00	3.88	(4.24)	14.34
MWG	3.30	(0.04)	(0.01)	0.03	4.23	(7.82)	8.00	(7.41)	60.59
INLF	2.80	(0.64)	0.00	(0.37)	0.00	0.00	6.67	(7.69)	21.10
KITT	8.57	(1.51)	0.00	(0.13)	0.00	0.00	14.20	(16.04)	141.67
MNTS	9.33	(1.04)	0.00	(0.09)	0.00	0.00	19.58	(17.01)	70.67
EHGO	3.81	(1.31)	0.00	(229.04)	0.00	0.00	8.70	(9.30)	28.72

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