Clean Energy Correlations
| CLNE Stock | USD 2.29 0.02 0.87% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Clean Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Clean Energy Fuels moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Clean Energy Fuels and NYA is 0.48 (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 NYA in the same portfolio, assuming nothing else is changed.
Clean |
The ability to find closely correlated positions to Clean Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Clean Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Clean Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Clean Energy Fuels to buy it.
Moving together with Clean Stock
| 0.7 | VTNR | Vertex Energy Financial Report 14th of May 2024 | PairCorr |
| 0.87 | DKL | Delek Logistics Partners Financial Report 13th of May 2024 | PairCorr |
| 0.75 | SGU | Star Gas Partners Earnings Call This Week | PairCorr |
Moving against Clean Stock
| 0.89 | BP | BP PLC ADR Financial Report 7th of May 2024 | PairCorr |
| 0.88 | MPC | Marathon Petroleum Corp Earnings Call This Week | PairCorr |
| 0.87 | VLO | Valero Energy Earnings Call Today | PairCorr |
| 0.82 | PBF | PBF Energy Earnings Call This Week | PairCorr |
| 0.82 | PSX | Phillips 66 Earnings Call Tomorrow | PairCorr |
| 0.81 | AR | Antero Resources Corp Earnings Call Today | PairCorr |
| 0.79 | REPYY | Repsol SA Earnings Call Today | PairCorr |
| 0.78 | AM | Antero Midstream Partners Earnings Call Today | PairCorr |
| 0.71 | DK | Delek Energy Financial Report 13th of May 2024 | PairCorr |
| 0.69 | AE | Adams Resources Energy Financial Report 14th of May 2024 | PairCorr |
| 0.69 | E | Eni SpA ADR Financial Report 26th of April 2024 | PairCorr |
| 0.65 | WKC | World Kinect Earnings Call Today | PairCorr |
| 0.64 | DO | Diamond Offshore Drilling Financial Report 13th of May 2024 | PairCorr |
| 0.63 | VVV | Valvoline Financial Report 8th of May 2024 | PairCorr |
| 0.63 | MITSY | Mitsui Company Earnings Call This Week | PairCorr |
| 0.53 | CVI | CVR Energy Earnings Call This Week | PairCorr |
| 0.51 | DINO | HF Sinclair Corp Sell-off Trend | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SGU | 1.85 | (0.09) | 0.00 | (0.07) | 0.00 | 4.89 | 15.11 | |||
| PARR | 1.90 | (0.15) | 0.00 | (0.01) | 0.00 | 3.84 | 12.80 | |||
| DK | 1.70 | 0.28 | 0.09 | 0.56 | 2.21 | 3.26 | 12.36 | |||
| CAPL | 0.82 | (0.01) | (0.05) | 0.07 | 1.06 | 1.54 | 4.79 | |||
| CSAN | 1.64 | (0.53) | 0.00 | (0.24) | 0.00 | 2.89 | 9.50 | |||
| VVV | 1.10 | 0.13 | 0.12 | 0.20 | 1.01 | 2.35 | 6.68 | |||
| NTOIF | 1.73 | (0.29) | 0.00 | 1.51 | 0.00 | 3.23 | 16.95 | |||
| DKL | 1.24 | (0.20) | 0.00 | (0.10) | 0.00 | 1.93 | 15.58 | |||
| SUN | 1.35 | (0.11) | 0.00 | (0.06) | 0.00 | 2.90 | 6.98 | |||
| DINO | 1.31 | 0.07 | 0.04 | 0.16 | 1.70 | 2.90 | 9.76 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Clean Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Clean Energy Corporate Directors
Clean Energy corporate directors refer to members of a Clean Energy board of directors. The board of directors generally takes responsibility for the Clean Energy's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Clean Energy's board members must vote for the resolution. The Clean Energy board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Tony Kritzer | Director - Investor Communications | Profile | |
| Kenneth Socha | Independent Director | Profile | |
| Philippe Montanteme | Director | Profile | |
| James Miller | Independent Director | Profile |
Already Invested in Clean Energy Fuels?
The danger of trading Clean Energy Fuels is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Clean Energy is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Clean Energy. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Clean Energy Fuels is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Clean Energy Fuels is a strong investment it is important to analyze Clean Energy's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Clean Energy's future performance. For an informed investment choice regarding Clean Stock, refer to the following important reports: 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 tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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When running Clean Energy's price analysis, check to measure Clean Energy's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Clean Energy is operating at the current time. Most of Clean Energy's value examination focuses on studying past and present price action to predict the probability of Clean Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Clean Energy's price. Additionally, you may evaluate how the addition of Clean Energy to your portfolios can decrease your overall portfolio volatility.
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Is Clean Energy's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Clean Energy. If investors know Clean will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Clean Energy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 5.12 | Earnings Share (0.45) | Revenue Per Share 1.907 | Quarterly Revenue Growth (0.06) | Return On Assets (0.04) |
The market value of Clean Energy Fuels is measured differently than its book value, which is the value of Clean that is recorded on the company's balance sheet. Investors also form their own opinion of Clean Energy's value that differs from its market value or its book value, called intrinsic value, which is Clean Energy's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Clean Energy's market value can be influenced by many factors that don't directly affect Clean Energy's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Clean Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Clean Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Clean Energy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.