Clear/Update a Calculated Field using JavaScript

I have calculated field that parses the value of a list lookup dropdown.

I also have a JavaScript function that successfully resets the list lookup dropdown when a radio button changes, but as the reset does not clear the calculated value, I've tried to do the following to no avail. What am I missing?

RadioButton.click(function() {
    NWF$('#' + CalculatedValue).val('');

}