Ferrari NV Correlations

RACE Stock

USD 333.67 4.78 1.41%

The current 90-days correlation between Ferrari NV and General Motors is 0.26 (i.e., Modest diversification). The correlation of Ferrari NV is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Ferrari NV Correlation With Market

Excellent diversification

The correlation between Ferrari NV and DJI is -0.67 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ferrari NV and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ferrari Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ferrari NV. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Ferrari Stock refer to our How to Trade Ferrari Stock guide.

Moving together with Ferrari Stock

0.78	NIO	Nio Class A	Pair Corr
0.86	GRAB	Grab Holdings	Pair Corr

Moving against Ferrari Stock

0.88	HBM	Hudbay Minerals	Pair Corr
0.86	KNYJF	KONE Oyj Earnings Call This Week	Pair Corr
0.85	JRVR	James River Group	Pair Corr
0.81	KFII	KF Growth Acquisition	Pair Corr
0.77	ABEV	Ambev SA ADR Aggressive Push	Pair Corr
0.76	GM	General Motors	Pair Corr
0.7	SUNFF	Sun Life Financial	Pair Corr
0.68	NMM	Navios Maritime Partners	Pair Corr
0.66	URG	Ur Energy	Pair Corr
0.6	MGTC	Megatech Corp	Pair Corr
0.58	F	Ford Motor Earnings Call This Week	Pair Corr

Related Correlations Analysis

	GM	MAR	ORLY	F	CVNA	AZO	HLT	RCL	ABNB	ROST
GM		0.84	-0.41	0.7	0.9	-0.68	0.87	0.57	0.82	0.9	GM
MAR	0.84		-0.16	0.68	0.75	-0.46	0.97	0.39	0.6	0.91	MAR
ORLY	-0.41	-0.16		-0.21	-0.35	0.92	-0.18	-0.35	-0.68	-0.24	ORLY
F	0.7	0.68	-0.21		0.67	-0.44	0.73	0.51	0.65	0.7	F
CVNA	0.9	0.75	-0.35	0.67		-0.61	0.78	0.48	0.76	0.9	CVNA
AZO	-0.68	-0.46	0.92	-0.44	-0.61		-0.47	-0.41	-0.8	-0.53	AZO
HLT	0.87	0.97	-0.18	0.73	0.78	-0.47		0.52	0.69	0.91	HLT
RCL	0.57	0.39	-0.35	0.51	0.48	-0.41	0.52		0.74	0.42	RCL
ABNB	0.82	0.6	-0.68	0.65	0.76	-0.8	0.69	0.74		0.67	ABNB
ROST	0.9	0.91	-0.24	0.7	0.9	-0.53	0.91	0.42	0.67		ROST
	GM	MAR	ORLY	F	CVNA	AZO	HLT	RCL	ABNB	ROST

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

HLT	+ 0.97	MAR
AZO	+ 0.92	ORLY
ROST	+ 0.91	MAR
ROST	+ 0.91	HLT
CVNA	+ 0.9	GM
ROST	+ 0.9	GM

High negative correlations

ABNB	- 0.8	AZO
ABNB	- 0.68	ORLY
AZO	- 0.68	GM
AZO	- 0.61	CVNA
ROST	- 0.53	AZO
HLT	- 0.47	AZO

Risk-Adjusted Indicators

There is a big difference between Ferrari Stock performing well and Ferrari NV Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ferrari NV's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GM	1.35	0.28	0.18	0.32	1.17	(1.45)	3.93	(2.41)	10.46
MAR	1.24	0.20	0.16	0.23	1.03	(1.47)	3.48	(1.63)	8.46
ORLY	0.99	0.01	(0.02)	0.07	1.46	(0.89)	2.32	(2.35)	6.34
F	1.47	0.18	0.10	0.52	1.32	(1.82)	3.65	(2.35)	16.30
CVNA	2.99	0.29	0.07	0.22	4.51	(2.90)	6.78	(6.31)	26.23
AZO	1.16	(0.05)	0.00	(0.19)	0.00	0.00	2.73	(2.59)	9.96
HLT	1.03	0.12	0.10	0.20	0.97	(1.25)	2.63	(2.00)	7.52
RCL	2.34	0.09	0.05	0.10	2.64	(2.69)	4.85	(4.25)	11.67
ABNB	1.12	0.00	0.00	0.05	1.69	(1.03)	2.66	(2.53)	8.82
ROST	0.82	0.22	0.24	0.32	0.55	(0.95)	2.16	(1.23)	11.17

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