OPAL Fuels Correlations

OPAL Stock

USD 2.02 0.03 1.51%

The current 90-days correlation between OPAL Fuels and RGC Resources is -0.09 (i.e., Good 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 0.12 (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.

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 together with OPAL Stock

0.78	NFE	New Fortress Energy	Pair Corr
0.75	CTRI	Centuri Holdings,	Pair Corr
0.74	RNWWW	ReNew Energy Global	Pair Corr

Moving against OPAL Stock

0.9	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.85	SO	Southern	Pair Corr
0.81	SR	Spire Inc	Pair Corr
0.78	ATO	Atmos Energy	Pair Corr
0.74	OGS	One Gas	Pair Corr
0.74	UGI	UGI Corporation	Pair Corr
0.74	ENIC	Enel Chile SA	Pair Corr
0.71	DUKB	Duke Energy Corp	Pair Corr
0.67	ELPC	Companhia Paranaense	Pair Corr
0.65	NI	NiSource	Pair Corr
0.64	NJR	NewJersey Resources	Pair Corr
0.61	NWN	Northwest Natural Gas	Pair Corr
0.6	CPK	Chesapeake Utilities	Pair Corr
0.6	HE	Hawaiian Electric	Pair Corr
0.59	ES	Eversource Energy	Pair Corr
0.59	CDZIP	Cadiz Depositary Shares Earnings Call This Week	Pair Corr
0.54	BKH	Black Hills	Pair Corr
0.5	SPH	Suburban Propane Partners	Pair Corr
0.49	CMS-PB	Consumers Energy	Pair Corr
0.45	SR-PA	Spire Inc	Pair Corr
0.43	D	Dominion Energy	Pair Corr
0.34	SWX	Southwest Gas Holdings	Pair Corr
0.86	AVA	Avista	Pair Corr
0.86	CNP	CenterPoint Energy	Pair Corr
0.85	DUK	Duke Energy	Pair Corr
0.84	AWK	American Water Works	Pair Corr
0.82	EXC	Exelon	Pair Corr
0.81	CMS	CMS Energy	Pair Corr
0.81	DTE	DTE Energy	Pair Corr
0.81	EBR	Centrais Electricas	Pair Corr

Related Correlations Analysis

	NWN	CPK	OGS	NIMC	UGIC	NJR	SR	NI	RGCO	ATO
NWN		0.93	0.87	0.0	0.0	0.71	0.86	0.77	0.37	0.86	NWN
CPK	0.93		0.84	0.0	0.0	0.81	0.78	0.63	0.33	0.77	CPK
OGS	0.87	0.84		0.0	0.0	0.72	0.91	0.87	0.19	0.96	OGS
NIMC	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NIMC
UGIC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	UGIC
NJR	0.71	0.81	0.72	0.0	0.0		0.64	0.45	0.21	0.64	NJR
SR	0.86	0.78	0.91	0.0	0.0	0.64		0.92	0.36	0.96	SR
NI	0.77	0.63	0.87	0.0	0.0	0.45	0.92		0.3	0.94	NI
RGCO	0.37	0.33	0.19	0.0	0.0	0.21	0.36	0.3		0.28	RGCO
ATO	0.86	0.77	0.96	0.0	0.0	0.64	0.96	0.94	0.28		ATO
	NWN	CPK	OGS	NIMC	UGIC	NJR	SR	NI	RGCO	ATO

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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

ATO	+ 0.96	OGS
ATO	+ 0.96	SR
ATO	+ 0.94	NI
CPK	+ 0.93	NWN
NI	+ 0.92	SR
SR	+ 0.91	OGS

High negative correlations

ATO	- 0.0	UGIC
RGCO	- 0.0	UGIC
NI	- 0.0	UGIC
SR	- 0.0	UGIC
NJR	- 0.0	UGIC
ATO	- 0.0	NIMC

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
NWN	0.94	0.05	0.08	0.05	1.32	(0.97)	2.01	(2.20)	5.30
CPK	0.98	0.05	0.07	0.01	1.43	(0.97)	2.41	(1.99)	6.12
OGS	1.06	0.11	0.11	0.16	1.36	(1.14)	2.31	(1.71)	5.27
NIMC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UGIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NJR	0.97	0.08	0.09	0.09	1.46	(0.93)	2.02	(2.45)	5.41
SR	1.05	0.21	0.14	0.35	1.65	(1.03)	1.76	(2.62)	7.80
NI	0.92	0.15	0.13	0.22	1.31	(0.88)	2.06	(2.27)	6.69
RGCO	1.66	0.05	0.05	0.03	2.05	(1.74)	3.15	(3.48)	7.51
ATO	0.94	0.14	0.16	0.29	1.11	(1.03)	1.96	(1.77)	5.33

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
Hugh Donnell	Senior Sustainability	Profile
Ann CTP	Chief Officer	Profile

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