ARKO vs CLNE: Correlation
How closely do ARKO Corp. (ARKO) and Clean Energy Fuels Corp. (CLNE) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKO and CLNE?
Across a 3-year window, the weekly returns of ARKO and CLNE correlate at 0.49, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.49 over 3. Stretching to 5 years gives 0.41, with an annualized covariance of 1664.1 %².
Few assets follow ARKO as closely as CLNE, which ranks #2 of 10 tracked partners. The last year tells two different stories: ARKO led by 29.7 percentage points, -9.7% for ARKO against -39.4% for CLNE.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ARKO vs CLNE: side by side
| ARKO (ARKO Corp.) | CLNE (Clean Energy Fuels Corp.) | |
|---|---|---|
| 1-year return | -9.7% | -39.4% |
| 5-year return | -52.2% | -79.6% |
| Volatility (ann.) | 57.6% | 58.8% |
| Beta vs S&P 500 | 1.16 | 1.36 |
| Max drawdown (3Y) | -55.2% | -71.5% |
| Market cap | $0.5B | $0.4B |
| P/E (trailing) | 55.8 | – |
| Dividend yield | 2.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARKO | CLNE |
|---|---|---|
| 2022 | -0.3% | -15.2% |
| 2023 | -3.3% | -26.3% |
| 2024 | -18.6% | -34.5% |
| 2025 | -29.3% | -16.3% |
| 2026 | -0.2% | -23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKO and CLNE good diversifiers for each other?
Reasonably. At 0.49, ARKO and CLNE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARKO and CLNE?
As of 2026-08-27, the correlation of weekly returns between ARKO and CLNE is 0.49 over 3 years, 0.41 over 1 year and 0.41 over 5 years.
Is CLNE a good diversifier for ARKO?
Reasonably. At 0.49, ARKO and CLNE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ARKO correlations · CLNE correlations
