OPAL Fuels Correlations

OPAL Stock

USD 2.05 0.05 2.38%

The current 90-days correlation between OPAL Fuels and Via Renewables is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OPAL Fuels moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OPAL Fuels moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

OPAL Fuels Correlation With Market

Average diversification

The correlation between OPAL Fuels and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OPAL Fuels and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with OPAL Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OPAL 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 nation.

For more information on how to buy OPAL Stock please use our How to buy in OPAL Stock guide.

Moving against OPAL Stock

0.52	DUK	Duke Energy	Pair Corr
0.47	SO	Southern	Pair Corr
0.46	ENAA	ENDESA ADR 12	Pair Corr
0.46	AEP	American Electric Power	Pair Corr
0.42	BIP-UN	Brookfield Infrastructure	Pair Corr
0.4	ENA	Endesa SA	Pair Corr
0.37	EIX	Edison International	Pair Corr
0.36	FE	FirstEnergy	Pair Corr
0.34	EVRG	Evergy	Pair Corr
0.32	EMA	Emera Incorporated	Pair Corr
0.57	H	Hydro One	Pair Corr
0.52	PCG	PGE Corp Aggressive Push	Pair Corr
0.49	EXC	Exelon	Pair Corr
0.47	FTS	Fortis Inc	Pair Corr
0.45	OGE	OGE Energy	Pair Corr
0.44	LNT	Alliant Energy Corp	Pair Corr
0.41	XEL	Xcel Energy	Pair Corr
0.4	C61	Emera Incorporated	Pair Corr
0.38	FTS	Fortis Inc	Pair Corr
0.35	NEE	Nextera Energy Aggressive Push	Pair Corr

Related Correlations Analysis

	SUUN	VIASP	WAVE	RAIN	VGAS	HTOO	ADN	RGCO	BNRG
SUUN		-0.39	0.38	0.46	0.6	0.24	0.17	0.07	0.48	SUUN
VIASP	-0.39		-0.88	-0.79	-0.81	-0.02	-0.87	-0.44	-0.91	VIASP
WAVE	0.38	-0.88		0.65	0.8	0.11	0.85	0.16	0.92	WAVE
RAIN	0.46	-0.79	0.65		0.64	0.16	0.5	0.35	0.64	RAIN
VGAS	0.6	-0.81	0.8	0.64		0.27	0.72	0.27	0.83	VGAS
HTOO	0.24	-0.02	0.11	0.16	0.27		-0.11	-0.15	0.05	HTOO
ADN	0.17	-0.87	0.85	0.5	0.72	-0.11		0.43	0.89	ADN
RGCO	0.07	-0.44	0.16	0.35	0.27	-0.15	0.43		0.31	RGCO
BNRG	0.48	-0.91	0.92	0.64	0.83	0.05	0.89	0.31		BNRG
	SUUN	VIASP	WAVE	RAIN	VGAS	HTOO	ADN	RGCO	BNRG

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

BNRG	+ 0.92	WAVE
BNRG	+ 0.89	ADN
ADN	+ 0.85	WAVE
BNRG	+ 0.83	VGAS
VGAS	+ 0.8	WAVE
ADN	+ 0.72	VGAS

High negative correlations

BNRG	- 0.91	VIASP
WAVE	- 0.88	VIASP
ADN	- 0.87	VIASP
VGAS	- 0.81	VIASP
RAIN	- 0.79	VIASP
RGCO	- 0.44	VIASP

Risk-Adjusted Indicators

There is a big difference between OPAL Stock performing well and OPAL Fuels 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 OPAL Fuels' 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
SUUN	5.36	(1.17)	0.00	(0.58)	0.00	0.00	12.94	(9.52)	31.90
VIASP	0.30	0.04	(0.12)	1.15	0.25	(0.35)	0.68	(0.69)	2.04
WAVE	2.31	(0.59)	0.00	1.23	0.00	0.00	5.70	(6.10)	17.53
RAIN	4.80	(0.60)	0.00	(2.39)	0.00	0.00	12.96	(13.14)	48.65
VGAS	4.59	(0.91)	0.00	2.43	0.00	0.00	10.24	(9.20)	27.54
HTOO	3.72	(0.19)	(0.02)	0.01	4.07	(4.40)	7.51	(6.55)	21.24
ADN	7.53	(2.00)	0.00	30.77	0.00	0.00	9.09	(12.28)	97.06
RGCO	1.34	(0.05)	0.00	(0.05)	0.00	0.00	3.49	(2.52)	11.48
BNRG	6.63	(2.71)	0.00	(0.83)	0.00	0.00	14.08	(16.94)	40.49

OPAL Fuels Corporate Management

Scott Edelbach	Executive Fuels	Profile
Scott Contino	Interim Officer	Profile
Kazi Hasan	Chief Officer	Profile
Anthony Falbo	Chief Officer	Profile
Jason Stewart	Director Marketing	Profile
Brian Stupp	Chief Services	Profile
Hugh Donnell	Senior Sustainability	Profile

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