OPAL Fuels Correlations
| OPAL Stock | USD 4.82 0.08 1.63% |
The correlation of OPAL Fuels 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 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. 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.
Good diversification
The correlation between OPAL Fuels and NYA is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OPAL Fuels and NYA in the same portfolio, assuming nothing else is changed.
OPAL |
The ability to find closely correlated positions to OPAL Fuels could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OPAL Fuels 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 OPAL Fuels - 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 OPAL Fuels to buy it.
Related Correlations Analysis
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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 | 1.37 | 0.17 | 0.03 | (0.53) | 2.27 | 2.99 | 17.13 | |||
| CPK | 1.07 | 0.11 | 0.02 | (4.32) | 1.48 | 1.94 | 7.13 | |||
| OGS | 0.98 | 0.10 | 0.01 | (1.60) | 1.27 | 2.60 | 7.90 | |||
| NIMC | 0.73 | 0.02 | 0.00 | 0.03 | 0.00 | 1.66 | 6.93 | |||
| UGIC | 1.37 | 0.10 | 0.01 | 1.01 | 1.85 | 3.03 | 13.89 | |||
| NJR | 0.80 | 0.10 | 0.02 | 4.58 | 0.94 | 1.88 | 5.53 | |||
| SR | 0.78 | 0.11 | 0.02 | (0.96) | 0.86 | 2.10 | 5.63 | |||
| NI | 0.70 | 0.21 | 0.16 | (20.73) | 0.53 | 1.83 | 3.85 | |||
| RGCO | 1.72 | 0.19 | 0.02 | (0.21) | 2.38 | 4.08 | 11.05 | |||
| ATO | 0.69 | 0.05 | (0.03) | 0.46 | 0.74 | 1.73 | 4.71 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in OPAL Fuels 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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OPAL Fuels Corporate Management
Elected by the shareholders, the OPAL Fuels' board of directors comprises two types of representatives: OPAL Fuels inside directors who are chosen from within the company, and outside directors, selected externally and held independent of OPAL. The board's role is to monitor OPAL Fuels' management team and ensure that shareholders' interests are well served. OPAL Fuels' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, OPAL Fuels' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jonathan Maurer | CoChief Officer | Profile | |
| Scott Edelbach | Executive Fuels | Profile | |
| Scott Contino | Interim Officer | Profile | |
| Anthony Falbo | Chief Officer | Profile | |
| Jason Stewart | Director Marketing | Profile | |
| Adam Comora | CoChief Officer | Profile | |
| Hugh Donnell | Senior Sustainability | Profile |
Already Invested in OPAL Fuels?
The danger of trading OPAL 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 OPAL Fuels 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 OPAL Fuels. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile OPAL 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 OPAL Fuels is a strong investment it is important to analyze OPAL Fuels' 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 OPAL Fuels' future performance. For an informed investment choice regarding OPAL Stock, refer to the following important reports: 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 tightly coupled 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.Note that the OPAL Fuels information on this page should be used as a complementary analysis to other OPAL Fuels' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Complementary Tools for OPAL Stock analysis
When running OPAL Fuels' price analysis, check to measure OPAL Fuels' 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 OPAL Fuels is operating at the current time. Most of OPAL Fuels' value examination focuses on studying past and present price action to predict the probability of OPAL Fuels' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move OPAL Fuels' price. Additionally, you may evaluate how the addition of OPAL Fuels to your portfolios can decrease your overall portfolio volatility.
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Is OPAL Fuels' 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 OPAL Fuels. If investors know OPAL 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 OPAL Fuels 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 (0.28) | Earnings Share 0.69 | Revenue Per Share 9.434 | Quarterly Revenue Growth 0.304 | Return On Assets 0.0014 |
The market value of OPAL Fuels is measured differently than its book value, which is the value of OPAL that is recorded on the company's balance sheet. Investors also form their own opinion of OPAL Fuels' value that differs from its market value or its book value, called intrinsic value, which is OPAL Fuels' 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 OPAL Fuels' market value can be influenced by many factors that don't directly affect OPAL Fuels' 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 OPAL Fuels' value and its price as these two are different measures arrived at by different means. Investors typically determine if OPAL Fuels is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, OPAL Fuels' 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.