automations work on either track or clip level. if you write automation on clip level, then it will be saved with the clip. moreover, on clip level you get options for 2 relative automations additionally to absolute mode, each can have independant start/end marker and loop region.
of course, to retrive saved automation in clip you need to drop it on empty space so it can create new track and place device chain that was used, otherwise I think only MIDI automation can be retained if you drop such saved clip into existing track.