list.clear() vs list = new ArrayList<Integer>();

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Which one of the 2 options is better and faster to clear an ArrayList, and why?

list.clear() 

or

list = new ArrayList<Integer>();

It happens that I have to, at random times, clear all entries from my ArrayList and I have no way to know how many new entries there will be in the future, there might be 0 or a 1000. Which method is faster and better, and why?

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