Tesla Correlations

TSLA Stock

USD 405.97 0.03 0.01%

The current 90-days correlation between Tesla Inc and Ford Motor is 0.04 (i.e., Significant 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

Very good diversification

The correlation between Tesla Inc and DJI is -0.43 (i.e., Very good 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.

Build AI portfolio with Tesla Stock

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 board of governors.

Moving together with Tesla Stock

0.77	RNL	Renault SA	Pair Corr
0.77	RNL	Renault SA	Pair Corr
0.93	TL0	Tesla Inc	Pair Corr
0.7	FFAI	Faraday Future Intel Symbol Change	Pair Corr
0.67	LOT	Lotus Technology	Pair Corr
0.66	VFS	VinFast Auto	Pair Corr
0.61	7IH	TENAX INTL SPA	Pair Corr
0.84	PAH3	Porsche Automobil Holding	Pair Corr
0.79	PAHA	Porsche Automobil Holding	Pair Corr
0.74	P911	Porsche AG	Pair Corr
0.64	FUH	Subaru	Pair Corr
0.82	P9N	LIVEWIRE GROUP DL	Pair Corr
0.94	TSLA	Tesla Inc CDR	Pair Corr

Moving against Tesla Stock

0.58	TM	Toyota Motor	Pair Corr
0.48	LI	Li Auto	Pair Corr
0.48	0O9	Niu Technologies	Pair Corr
0.42	F	Ford Motor	Pair Corr
0.63	MMO	Mitsubishi Motors	Pair Corr
0.39	FMC1	Ford Motor	Pair Corr
0.33	WGO	Winnebago Industries	Pair Corr

Related Correlations Analysis

	TM	GELHY	F	NIO	CJET	LI	GM	ZK	RIVN	RACE
TM		-0.52	0.71	-0.28	-0.69	0.29	0.46	-0.86	-0.5	-0.41	TM
GELHY	-0.52		-0.33	0.45	0.24	-0.04	-0.08	0.69	0.63	0.41	GELHY
F	0.71	-0.33		-0.29	-0.52	0.11	0.4	-0.64	-0.3	-0.27	F
NIO	-0.28	0.45	-0.29		0.51	0.54	-0.39	0.41	0.17	0.62	NIO
CJET	-0.69	0.24	-0.52	0.51		0.14	-0.68	0.53	0.13	0.5	CJET
LI	0.29	-0.04	0.11	0.54	0.14		-0.26	-0.31	-0.44	0.35	LI
GM	0.46	-0.08	0.4	-0.39	-0.68	-0.26		-0.27	0.1	-0.53	GM
ZK	-0.86	0.69	-0.64	0.41	0.53	-0.31	-0.27		0.71	0.48	ZK
RIVN	-0.5	0.63	-0.3	0.17	0.13	-0.44	0.1	0.71		0.41	RIVN
RACE	-0.41	0.41	-0.27	0.62	0.5	0.35	-0.53	0.48	0.41		RACE
	TM	GELHY	F	NIO	CJET	LI	GM	ZK	RIVN	RACE

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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

F	+ 0.71	TM
RIVN	+ 0.71	ZK
ZK	+ 0.69	GELHY
RIVN	+ 0.63	GELHY
RACE	+ 0.62	NIO
LI	+ 0.54	NIO

High negative correlations

ZK	- 0.86	TM
CJET	- 0.69	TM
GM	- 0.68	CJET
ZK	- 0.64	F
RACE	- 0.53	GM
CJET	- 0.52	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
TM	1.30	0.18	0.13	0.21	1.29	(1.75)	3.21	(1.74)	9.02
GELHY	1.29	(0.16)	0.00	(0.17)	0.00	0.00	2.80	(3.16)	8.14
F	1.31	(0.03)	0.00	1.61	0.00	0.00	3.61	(2.59)	9.82
NIO	2.37	(0.17)	0.00	(0.22)	0.00	0.00	4.71	(4.77)	11.98
CJET	7.72	(4.70)	0.00	5.80	0.00	0.00	9.23	(22.15)	60.91
LI	1.68	(0.12)	0.00	(0.09)	0.00	0.00	3.54	(3.18)	9.90
GM	1.45	0.09	0.05	0.12	1.66	(1.50)	3.93	(2.65)	12.98
ZK	0.98	(0.15)	0.00	1.93	0.00	0.00	2.46	(2.67)	8.19
RIVN	3.05	0.06	0.01	0.56	2.88	(4.65)	10.70	(5.22)	33.75
RACE	1.49	(0.09)	0.00	(0.08)	0.00	0.00	2.73	(3.01)	12.58

Tesla Corporate Management

John Walker	Vice America	Profile
Brian Scelfo	Senior Development	Profile
Martin Viecha	Director Relations	Profile
Lars Moravy	Vice Engineering	Profile
Ashok Elluswamy	Executive Officer	Profile
Vaibhav Taneja	Chief Accounting Officer	Profile

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