The reason clears were invented is to stop oxidation. Oxygen is not allowed to reach the pigmented paint and oxidize it.
Clears again have no pigmented paint, hence in the strictist sense of the word clears cannot oxidize because it has no pigmented paint. Many use "oxidation" in a general way to define or speak of clears being chemically attacked from acid rain, etching, etc. Far too many people (even professional detailers) though feel their cars, their clear coated cars, and if it feels rough they say, "Man..is my car's paint oxidized! It needs to get clayed" Well clay won't remove oxidation (pigmented paint) nor is their car truly "oxidized" but it may have industrial fallout, overspray and/or tree sap on its surface.
What many view as their finish being "cloudy" is most likely from their clear coat being marred or even clear coat failure.
Anthony