Clean Energy Correlations

CLNE Stock

USD 3.32 0.06 1.84%

The current 90-days correlation between Clean Energy Fuels and Aemetis is 0.19 (i.e., Average 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

Modest diversification

The correlation between Clean Energy Fuels and DJI is 0.24 (i.e., Modest 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Clean Energy 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 board of governors.

Moving together with Clean Stock

0.64

Eni SpA ADR

Pair Corr

Moving against Clean Stock

0.46	PTLE	PTL LTD Ordinary	Pair Corr
0.35	AE	Adams Resources Energy	Pair Corr
0.5	EFXT	Enerflex	Pair Corr
0.44	TS	Tenaris SA ADR	Pair Corr

Related Correlations Analysis

	VTNR	IEP	PBF	DKL	AMTX	BDCO	PARR	DK	DINO	VLO
VTNR		0.39	0.69	0.01	0.22	0.03	0.44	0.31	0.47	0.68	VTNR
IEP	0.39		0.58	-0.72	0.65	-0.69	-0.02	-0.06	0.89	0.55	IEP
PBF	0.69	0.58		-0.1	0.53	-0.16	0.62	0.48	0.82	0.95	PBF
DKL	0.01	-0.72	-0.1		-0.61	0.66	0.5	0.18	-0.59	0.05	DKL
AMTX	0.22	0.65	0.53	-0.61		-0.5	0.18	0.36	0.81	0.4	AMTX
BDCO	0.03	-0.69	-0.16	0.66	-0.5		0.33	0.46	-0.56	-0.05	BDCO
PARR	0.44	-0.02	0.62	0.5	0.18	0.33		0.63	0.29	0.71	PARR
DK	0.31	-0.06	0.48	0.18	0.36	0.46	0.63		0.25	0.45	DK
DINO	0.47	0.89	0.82	-0.59	0.81	-0.56	0.29	0.25		0.74	DINO
VLO	0.68	0.55	0.95	0.05	0.4	-0.05	0.71	0.45	0.74		VLO
	VTNR	IEP	PBF	DKL	AMTX	BDCO	PARR	DK	DINO	VLO

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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

VLO	+ 0.95	PBF
DINO	+ 0.89	IEP
DINO	+ 0.82	PBF
DINO	+ 0.81	AMTX
VLO	+ 0.74	DINO
VLO	+ 0.71	PARR

High negative correlations

DKL	- 0.72	IEP
BDCO	- 0.69	IEP
AMTX	- 0.61	DKL
DINO	- 0.59	DKL
DINO	- 0.56	BDCO
BDCO	- 0.5	AMTX

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
VTNR	8.20	1.78	0.15	(3.30)	8.03	(11.76)	20.00	(13.39)	49.82
IEP	1.80	(0.32)	0.00	3.25	0.00	0.00	3.58	(3.57)	12.73
PBF	1.84	0.12	0.03	0.47	2.24	(1.89)	3.84	(4.21)	11.78
DKL	0.78	0.24	0.20	1.54	0.54	(0.94)	1.86	(1.24)	4.78
AMTX	4.58	(0.18)	0.00	(0.02)	0.00	0.00	8.75	(9.06)	49.06
BDCO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PARR	2.06	0.24	0.03	(0.37)	2.75	(1.86)	3.73	(4.30)	15.96
DK	2.04	0.17	0.05	0.39	2.55	(2.09)	4.28	(4.20)	13.99
DINO	1.43	(0.10)	0.00	(0.29)	0.00	0.00	2.85	(2.77)	10.71
VLO	1.36	0.09	0.01	0.42	1.58	(1.39)	2.87	(2.71)	8.22

Clean Energy Corporate Management

Barclay Corbus	Sr. VP of Strategic Devel.	Profile
James Sytsma	Corporate VP	Profile
Robert Vreeland	Chief Officer	Profile
Gary Foster	Senior Communications	Profile
Robert CPA	Chief Officer	Profile
James Harger	Sr Officer	Profile

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