CLMT vs CLNE: Correlation
How closely do Calumet, Inc (CLMT) and Clean Energy Fuels Corp. (CLNE) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLMT and CLNE?
Over the past 3 years, CLMT and CLNE moved with a correlation of 0.48, which is moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.48). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 1526.2 %².
CLNE is one of the assets that tracks CLMT most closely: it ranks #3 out of the 10 assets we track against CLMT. The last year tells two different stories: CLMT led by 222.3 percentage points, +182.9% for CLMT 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.
CLMT vs CLNE: side by side
| CLMT (Calumet, Inc) | CLNE (Clean Energy Fuels Corp.) | |
|---|---|---|
| 1-year return | +182.9% | -39.4% |
| 5-year return | +582.1% | -79.6% |
| Volatility (ann.) | 53.8% | 58.8% |
| Beta vs S&P 500 | 0.97 | 1.36 |
| Max drawdown (3Y) | -61.9% | -71.5% |
| Market cap | $4.0B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLMT | CLNE |
|---|---|---|
| 2022 | +27.9% | -15.2% |
| 2023 | +5.9% | -26.3% |
| 2024 | +23.2% | -34.5% |
| 2025 | -9.8% | -16.3% |
| 2026 | +130.3% | -23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLMT and CLNE good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLMT and CLNE?
The CLMT/CLNE correlation stands at 0.48 on a 3-year window (1 year: 0.66, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is CLNE a good diversifier for CLMT?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CLMT correlations · CLNE correlations
