Clean Energy Correlations

CETY Stock

USD 0.55 0.05 8.33%

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

Good diversification

The correlation between Clean Energy Technologies, and DJI is -0.09 (i.e., Good 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.

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 estimate.

Moving against Clean Stock

0.66	CMI	Cummins	Pair Corr
0.56	DOV	Dover	Pair Corr
0.5	HI	Hillenbrand	Pair Corr
0.49	PH	Parker Hannifin	Pair Corr
0.43	AME	Ametek Inc	Pair Corr
0.41	CR	Crane Company	Pair Corr
0.4	EMR	Emerson Electric	Pair Corr
0.34	CXT	Crane NXT	Pair Corr
0.31	EPAC	Enerpac Tool Group	Pair Corr
0.53	KAI	Kadant Inc	Pair Corr
0.51	ROK	Rockwell Automation	Pair Corr
0.51	SXI	Standex International	Pair Corr
0.4	FLS	Flowserve	Pair Corr
0.4	NPO	Enpro Industries	Pair Corr
0.38	ITT	ITT Inc	Pair Corr
0.34	PNR	Pentair PLC	Pair Corr
0.32	GRC	Gorman Rupp	Pair Corr
0.54	JCSE	JE Cleantech Holdings	Pair Corr
0.52	GTES	Gates Industrial	Pair Corr
0.46	GTLS	Chart Industries	Pair Corr
0.45	HURC	Hurco Companies	Pair Corr

Related Correlations Analysis

	UCLE	PURA	RXMD	SWRM	SNPW
UCLE		0.0	0.0	0.21	0.34	UCLE
PURA	0.0		0.0	0.0	0.0	PURA
RXMD	0.0	0.0		0.0	0.0	RXMD
SWRM	0.21	0.0	0.0		0.58	SWRM
SNPW	0.34	0.0	0.0	0.58		SNPW
	UCLE	PURA	RXMD	SWRM	SNPW

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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

SNPW	+ 0.58	SWRM
SNPW	+ 0.34	UCLE
SWRM	+ 0.21	UCLE
PURA	+ 0.0	UCLE
RXMD	+ 0.0	UCLE
RXMD	+ 0.0	PURA

High negative correlations

SNPW	- 0.0	RXMD
SWRM	- 0.0	RXMD
SNPW	- 0.0	PURA
SWRM	- 0.0	PURA
RXMD	- 0.0	PURA
RXMD	- 0.0	UCLE

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
UCLE	8.32	0.37	0.03	0.47	8.94	(12.31)	21.21	(16.92)	46.92
PURA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RXMD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SWRM	16.98	3.57	0.09	0.37	15.71	(61.11)	50.00	(33.33)	150.00
SNPW	3.04	(0.66)	0.00	(1.54)	0.00	0.00	7.43	(11.72)	41.24

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