Ferrari NV Correlations

RACE Stock

USD 371.96 7.31 1.93%

The current 90-days correlation between Ferrari NV and General Motors is 0.19 (i.e., Average 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

Weak diversification

The correlation between Ferrari NV and DJI is 0.31 (i.e., Weak 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 manufacturing.

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

Moving together with Ferrari Stock

0.65	LOT	Lotus Technology American	Pair Corr
0.71	NIO	Nio Class A	Pair Corr
0.71	TRNR	Interactive Strength	Pair Corr

Moving against Ferrari Stock

0.61	GM	General Motors	Pair Corr
0.6	MCHB	Mechanics Bank Symbol Change	Pair Corr
0.55	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.5	601238	Guangzhou Automobile	Pair Corr
0.47	RIVN	Rivian Automotive	Pair Corr
0.46	000572	Haima Automobile	Pair Corr
0.45	000980	Zotye Automobile	Pair Corr
0.41	F	Ford Motor	Pair Corr
0.32	DB	Deutsche Bank AG	Pair Corr
0.77	LCDX	Caliber Imaging Diag	Pair Corr
0.75	DGWPF	Drgerwerk AG	Pair Corr
0.73	CTOWY	China TowerLimited	Pair Corr
0.73	NAUFF	NevGold Corp	Pair Corr
0.65	BROS	Dutch Bros	Pair Corr
0.61	SYF	Synchrony Financial	Pair Corr
0.56	CASXF	Casa Minerals	Pair Corr
0.56	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.56	ARVN	Arvinas	Pair Corr
0.52	BNXAF	Banxa Holdings Tech Boost	Pair Corr
0.51	FTV	Fortive Corp	Pair Corr
0.5	FHELF	First Helium	Pair Corr
0.5	TMSNY	Temenos Group AG	Pair Corr
0.48	MEOAF	Melbana Energy	Pair Corr
0.39	SMXWW	SMX Public Limited	Pair Corr
0.36	EDRVY	EDP Renovveis SA	Pair Corr

Related Correlations Analysis

	GM	MAR	ORLY	F	CVNA	AZO	HLT	RCL	ABNB	ROST
GM		0.87	-0.79	0.88	0.66	-0.87	0.85	-0.41	0.61	0.92	GM
MAR	0.87		-0.56	0.73	0.59	-0.68	0.95	-0.41	0.41	0.91	MAR
ORLY	-0.79	-0.56		-0.65	-0.47	0.97	-0.57	0.25	-0.73	-0.64	ORLY
F	0.88	0.73	-0.65		0.42	-0.72	0.65	-0.51	0.38	0.74	F
CVNA	0.66	0.59	-0.47	0.42		-0.57	0.62	0.1	0.65	0.75	CVNA
AZO	-0.87	-0.68	0.97	-0.72	-0.57		-0.68	0.33	-0.72	-0.76	AZO
HLT	0.85	0.95	-0.57	0.65	0.62	-0.68		-0.2	0.56	0.87	HLT
RCL	-0.41	-0.41	0.25	-0.51	0.1	0.33	-0.2		0.33	-0.39	RCL
ABNB	0.61	0.41	-0.73	0.38	0.65	-0.72	0.56	0.33		0.51	ABNB
ROST	0.92	0.91	-0.64	0.74	0.75	-0.76	0.87	-0.39	0.51		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

AZO	+ 0.97	ORLY
HLT	+ 0.95	MAR
ROST	+ 0.92	GM
ROST	+ 0.91	MAR
F	+ 0.88	GM
MAR	+ 0.87	GM

High negative correlations

AZO	- 0.87	GM
ORLY	- 0.79	GM
ROST	- 0.76	AZO
ABNB	- 0.73	ORLY
ABNB	- 0.72	AZO
AZO	- 0.72	F

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	1.45	0.38	0.27	0.36	1.06	(1.63)	3.37	(1.97)	18.58
MAR	1.20	0.20	0.15	0.29	1.02	(1.38)	3.31	(2.12)	8.24
ORLY	0.95	(0.25)	0.00	(1.82)	0.00	0.00	2.20	(2.35)	6.37
F	1.45	0.07	0.05	0.12	1.67	(1.58)	3.38	(2.63)	16.30
CVNA	3.12	0.03	0.03	0.09	4.33	(3.08)	6.78	(6.78)	19.22
AZO	1.10	(0.40)	0.00	(17.45)	0.00	0.00	1.46	(2.67)	9.96
HLT	1.10	0.12	0.07	0.27	1.05	(1.33)	3.03	(2.42)	6.33
RCL	1.86	(0.27)	0.00	(0.10)	0.00	0.00	4.50	(4.06)	13.13
ABNB	1.08	0.09	0.06	0.16	1.23	(1.07)	2.77	(2.00)	7.01
ROST	0.91	0.23	0.25	0.30	0.52	(1.08)	2.54	(1.34)	9.43

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