Clean Energy Correlations

CLNE Stock

USD 2.37 0.17 6.69%

The current 90-days correlation between Clean Energy Fuels and Vital Energy is 0.07 (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.

Clean Energy Correlation With Market

Very weak diversification

The correlation between Clean Energy Fuels and DJI is 0.54 (i.e., Very weak 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.

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 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 inflation.

Moving together with Clean Stock

0.61	DINO	HF Sinclair Corp	Pair Corr
0.69	TPIG	IRPC Public	Pair Corr
0.79	7BP1	BangchakPublic Company	Pair Corr
0.7	MPC	Marathon Petroleum Corp	Pair Corr
0.87	PSX	Phillips 66	Pair Corr
0.76	VLO	Valero Energy	Pair Corr
0.84	GPRE	Green Plains Renewable	Pair Corr
0.76	BYNN	Rubis SCA	Pair Corr
0.67	V1L	Valero Energy	Pair Corr
0.7	NVPF	IRPC PCL NVDR	Pair Corr
0.89	0V4	Valvoline	Pair Corr
0.93	WIQ	Clean Energy Fuels	Pair Corr
0.81	JHJ	ENEOS Holdings	Pair Corr
0.87	R66	Phillips 66	Pair Corr
0.81	LQZ	Thai Oil Public	Pair Corr
0.72	RUI	Rubis SCA	Pair Corr

Moving against Clean Stock

0.67	VEA	Viva Energy Group	Pair Corr
0.51	ALD	Ampol	Pair Corr
0.4	GEVO	Gevo Inc	Pair Corr
0.36	CVI	CVR Energy	Pair Corr
0.59	2AH	VIVA ENERGY GROUP	Pair Corr
0.46	RLI	Reliance Industries	Pair Corr
0.37	FL9	CVR Energy	Pair Corr

Related Correlations Analysis

	VTLE	NGL	KOS	SOC	REPX	CAPL	GRNT	URG	TNP
VTLE		0.67	0.72	0.0	0.78	0.61	0.46	0.32	0.0	VTLE
NGL	0.67		0.83	0.26	0.71	0.79	0.36	0.45	0.0	NGL
KOS	0.72	0.83		0.12	0.61	0.64	0.39	0.37	0.0	KOS
SOC	0.0	0.26	0.12		0.15	0.48	-0.63	0.83	0.0	SOC
REPX	0.78	0.71	0.61	0.15		0.64	0.52	0.43	0.0	REPX
CAPL	0.61	0.79	0.64	0.48	0.64		0.04	0.67	0.0	CAPL
GRNT	0.46	0.36	0.39	-0.63	0.52	0.04		-0.4	0.0	GRNT
URG	0.32	0.45	0.37	0.83	0.43	0.67	-0.4		0.0	URG
TNP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		TNP
	VTLE	NGL	KOS	SOC	REPX	CAPL	GRNT	URG	TNP

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

KOS	+ 0.83	NGL
URG	+ 0.83	SOC
CAPL	+ 0.79	NGL
REPX	+ 0.78	VTLE
KOS	+ 0.72	VTLE
REPX	+ 0.71	NGL

High negative correlations

GRNT	- 0.63	SOC
URG	- 0.4	GRNT
TNP	- 0.0	URG
TNP	- 0.0	GRNT
TNP	- 0.0	CAPL
TNP	- 0.0	REPX

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
VTLE	2.59	0.23	0.03	(0.47)	3.23	(2.79)	6.39	(5.94)	16.09
NGL	2.10	0.31	0.09	0.86	2.34	(2.59)	4.71	(3.58)	16.33
KOS	5.36	1.22	0.13	(0.21)	5.24	(6.95)	13.75	(10.69)	35.42
SOC	7.31	1.36	0.21	0.60	6.49	(8.77)	15.74	(11.37)	72.14
REPX	1.83	0.06	0.01	0.18	2.36	(1.72)	4.25	(3.70)	11.37
CAPL	0.96	(0.03)	0.00	(0.45)	0.00	0.00	1.86	(2.48)	6.13
GRNT	1.94	0.00	(0.02)	0.09	2.42	(1.99)	3.44	(4.27)	9.25
URG	3.04	0.55	0.12	1.04	3.60	(3.40)	5.83	(7.27)	17.89
TNP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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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