Ferrari NV Correlations

RACE Stock

USD 360.25 6.70 1.83%

The current 90-days correlation between Ferrari NV and General Motors is 0.08 (i.e., Significant 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 -0.61 (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 services.

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

Moving together with Ferrari Stock

0.63	RNL	Renault SA	Pair Corr
0.64	RNL	Renault SA	Pair Corr
0.74	ECDA	ECD Automotive Design	Pair Corr
0.66	DCX	Digital Currency X Symbol Change	Pair Corr
0.73	NIO	Nio Class A	Pair Corr
0.73	SUK	Suzuki Motor	Pair Corr
0.93	2FE	Ferrari NV	Pair Corr
0.73	MOM	Mahindra Mahindra	Pair Corr
0.72	N3IA	Nio Class A	Pair Corr

Moving against Ferrari Stock

0.66	GM	General Motors	Pair Corr
0.59	TM	Toyota Motor	Pair Corr
0.48	F	Ford Motor Earnings Call This Week	Pair Corr
0.45	HMC	Honda Motor	Pair Corr
0.36	BMW3	Bayerische Motoren Werke	Pair Corr
0.79	WGO	Winnebago Industries	Pair Corr
0.73	THO	Thor Industries	Pair Corr
0.39	VOWB	VOLKSWAGEN AG VZ	Pair Corr

Related Correlations Analysis

	GM	JD	ROST	TCOM	DHI	CPRT	GELHY	AZO
GM		-0.24	0.77	-0.25	0.26	-0.2	-0.21	-0.58	GM
JD	-0.24		-0.42	0.71	-0.3	0.29	0.48	-0.13	JD
ROST	0.77	-0.42		-0.58	0.67	-0.32	-0.26	-0.27	ROST
TCOM	-0.25	0.71	-0.58		-0.57	0.03	0.61	-0.4	TCOM
DHI	0.26	-0.3	0.67	-0.57		-0.39	-0.24	0.24	DHI
CPRT	-0.2	0.29	-0.32	0.03	-0.39		-0.22	0.14	CPRT
GELHY	-0.21	0.48	-0.26	0.61	-0.24	-0.22		-0.38	GELHY
AZO	-0.58	-0.13	-0.27	-0.4	0.24	0.14	-0.38		AZO
	GM	JD	ROST	TCOM	DHI	CPRT	GELHY	AZO

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

ROST	+ 0.77	GM
TCOM	+ 0.71	JD
DHI	+ 0.67	ROST
GELHY	+ 0.61	TCOM
GELHY	+ 0.48	JD
CPRT	+ 0.29	JD

High negative correlations

TCOM	- 0.58	ROST
AZO	- 0.58	GM
DHI	- 0.57	TCOM
ROST	- 0.42	JD
AZO	- 0.4	TCOM
CPRT	- 0.39	DHI

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	1.43	0.16	0.08	0.22	1.56	(1.45)	3.93	(3.47)	12.98
JD	1.02	(0.17)	0.00	(0.11)	0.00	0.00	2.75	(2.00)	7.11
ROST	0.81	0.30	0.30	0.56	0.41	(0.96)	1.97	(1.02)	11.17
TCOM	1.69	(0.46)	0.00	(0.36)	0.00	0.00	3.10	(4.15)	21.41
DHI	1.76	0.14	0.09	0.18	1.63	(2.11)	5.72	(3.27)	11.16
CPRT	1.07	(0.22)	0.00	(0.29)	0.00	0.00	2.10	(3.11)	10.21
GELHY	1.25	(0.10)	0.00	(0.07)	0.00	0.00	2.80	(3.05)	7.86
AZO	1.22	(0.07)	0.00	(0.09)	0.00	0.00	2.51	(3.01)	9.68

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