Tesla Correlations

TSLA Stock

USD 355.84 0.10 0.03%

The current 90-days correlation between Tesla Inc and Ford Motor is 0.28 (i.e., Modest diversification). The correlation of Tesla 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.

Tesla Correlation With Market

Significant diversification

The correlation between Tesla Inc and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tesla Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tesla Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Tesla Stock

0.72

GOOG

Alphabet Class C

Pair Corr

Moving against Tesla Stock

0.65	THO	Thor Industries	Pair Corr
0.65	RRR	Red Rock Resorts	Pair Corr
0.64	LNW	Light Wonder	Pair Corr
0.61	GOTU	Gaotu Techedu DRC	Pair Corr
0.57	MGM	MGM Resorts International	Pair Corr
0.57	MCFT	MCBC Holdings	Pair Corr
0.56	BC	Brunswick	Pair Corr
0.52	GDEN	Golden Entertainment	Pair Corr
0.5	BBY	Best Buy	Pair Corr
0.49	MPX	Marine Products	Pair Corr
0.44	F	Ford Motor Aggressive Push	Pair Corr
0.44	WGO	Winnebago Industries	Pair Corr
0.44	LCII	LCI Industries	Pair Corr
0.38	KSS	Kohls Corp	Pair Corr
0.38	MCRI	Monarch Casino Resort	Pair Corr
0.34	EZGO	EZGO Technologies	Pair Corr
0.32	MCD	McDonalds	Pair Corr
0.31	HD	Home Depot	Pair Corr
0.54	CNTY	Century Casinos	Pair Corr
0.51	TD	Toronto Dominion Bank	Pair Corr
0.43	TXRH	Texas Roadhouse	Pair Corr
0.43	MMSI	Merit Medical Systems	Pair Corr

Related Correlations Analysis

	F	GM	GT	LI	QS	TM	VC	ZK	DORM	VLCN
F		0.86	0.73	-0.51	-0.24	-0.63	0.81	-0.45	0.83	0.73	F
GM	0.86		0.56	-0.42	0.01	-0.45	0.79	-0.24	0.65	0.8	GM
GT	0.73	0.56		-0.49	-0.19	-0.58	0.82	-0.22	0.81	0.51	GT
LI	-0.51	-0.42	-0.49		0.2	0.49	-0.45	0.27	-0.42	-0.55	LI
QS	-0.24	0.01	-0.19	0.2		0.58	-0.1	0.46	-0.33	0.11	QS
TM	-0.63	-0.45	-0.58	0.49	0.58		-0.57	0.45	-0.63	-0.41	TM
VC	0.81	0.79	0.82	-0.45	-0.1	-0.57		-0.08	0.87	0.75	VC
ZK	-0.45	-0.24	-0.22	0.27	0.46	0.45	-0.08		-0.27	0.03	ZK
DORM	0.83	0.65	0.81	-0.42	-0.33	-0.63	0.87	-0.27		0.58	DORM
VLCN	0.73	0.8	0.51	-0.55	0.11	-0.41	0.75	0.03	0.58		VLCN
	F	GM	GT	LI	QS	TM	VC	ZK	DORM	VLCN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

DORM	+ 0.87	VC
GM	+ 0.86	F
DORM	+ 0.83	F
VC	+ 0.82	GT
VC	+ 0.81	F
DORM	+ 0.81	GT

High negative correlations

DORM	- 0.63	TM
TM	- 0.63	F
TM	- 0.58	GT
VC	- 0.57	TM
VLCN	- 0.55	LI
LI	- 0.51	F

Risk-Adjusted Indicators

There is a big difference between Tesla Stock performing well and Tesla 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 Tesla'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
F	1.35	(0.21)	0.00	(0.31)	0.00	0.00	2.46	(2.90)	11.01
GM	1.66	(0.19)	0.00	(0.20)	0.00	0.00	3.40	(3.15)	14.61
GT	1.97	(0.03)	0.00	(0.05)	0.00	0.00	4.34	(3.90)	12.64
LI	2.53	0.17	0.06	1.87	2.90	(2.71)	5.99	(4.92)	13.04
QS	3.02	0.13	0.04	2.70	3.46	(3.46)	7.04	(5.46)	23.40
TM	1.24	0.11	0.07	0.14	1.54	(1.32)	3.04	(2.49)	13.50
VC	1.36	(0.15)	0.00	(0.16)	0.00	0.00	2.13	(3.23)	8.76
ZK	4.08	0.25	0.04	4.40	5.40	(4.60)	10.53	(8.32)	37.90
DORM	1.08	(0.13)	0.00	(0.16)	0.00	0.00	1.81	(2.12)	5.11
VLCN	5.31	(2.13)	0.00	(13.77)	0.00	0.00	7.81	(16.00)	61.63

Tesla Corporate Management

John Walker	Vice America	Profile
Brian Scelfo	Senior Development	Profile
Martin Viecha	Director Relations	Profile
Lars Moravy	Vice Engineering	Profile
Vaibhav Taneja	Chief Accounting Officer	Profile
Franz Holzhausen	Chief Designer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC