Tesla Correlations

TSLA Stock

USD 329.65 10.24 3.21%

The current 90-days correlation between Tesla Inc and Ford Motor is 0.34 (i.e., Weak 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 weak diversification

The correlation between Tesla Inc and DJI is 0.41 (i.e., Very weak 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 bureau of economic analysis.

Moving together with Tesla Stock

0.78	LI	Li Auto	Pair Corr
0.83	ZK	ZEEKR Intelligent	Pair Corr
0.81	DORM	Dorman Products	Pair Corr
0.78	AXL	American Axle Manufa	Pair Corr
0.75	BWA	BorgWarner	Pair Corr
0.67	FOXF	Fox Factory Holding	Pair Corr
0.67	CPS	Cooper Stnd	Pair Corr
0.79	DAN	Dana Inc	Pair Corr
0.65	MBLY	Mobileye Global Class	Pair Corr
0.64	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.75	AS	Amer Sports,	Pair Corr
0.72	FL	Foot Locker	Pair Corr

Moving against Tesla Stock

0.72	MULN	Mullen Automotive	Pair Corr
0.6	ECDA	ECD Automotive Design	Pair Corr
0.51	EVTV	Envirotech Vehicles	Pair Corr
0.79	DNUT	Krispy Kreme	Pair Corr
0.74	SG	Sweetgreen	Pair Corr

Related Correlations Analysis

	F	GM	GT	LI	QS	TM	VC	ZK	DORM	VLCN
F		0.94	0.41	0.51	0.71	-0.5	0.94	0.64	0.54	0.32	F
GM	0.94		0.43	0.64	0.75	-0.48	0.93	0.75	0.59	0.4	GM
GT	0.41	0.43		0.45	0.12	0.38	0.36	0.43	0.53	-0.07	GT
LI	0.51	0.64	0.45		0.41	-0.1	0.55	0.9	0.79	0.22	LI
QS	0.71	0.75	0.12	0.41		-0.63	0.85	0.42	0.08	0.81	QS
TM	-0.5	-0.48	0.38	-0.1	-0.63		-0.58	-0.12	0.06	-0.41	TM
VC	0.94	0.93	0.36	0.55	0.85	-0.58		0.63	0.42	0.5	VC
ZK	0.64	0.75	0.43	0.9	0.42	-0.12	0.63		0.84	0.16	ZK
DORM	0.54	0.59	0.53	0.79	0.08	0.06	0.42	0.84		-0.17	DORM
VLCN	0.32	0.4	-0.07	0.22	0.81	-0.41	0.5	0.16	-0.17		VLCN
	F	GM	GT	LI	QS	TM	VC	ZK	DORM	VLCN

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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

GM	+ 0.94	F
VC	+ 0.94	F
VC	+ 0.93	GM
ZK	+ 0.9	LI
VC	+ 0.85	QS
DORM	+ 0.84	ZK

High negative correlations

TM	- 0.63	QS
VC	- 0.58	TM
TM	- 0.5	F
TM	- 0.48	GM
VLCN	- 0.41	TM
VLCN	- 0.17	DORM

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	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
GM	1.21	0.14	0.08	0.30	1.35	(1.24)	2.86	(2.02)	8.30
GT	2.10	0.11	0.04	0.29	1.96	(2.53)	5.24	(3.26)	14.68
LI	1.92	0.37	0.17	0.66	1.73	(2.26)	6.07	(3.03)	11.04
QS	4.80	2.23	0.42	3.63	3.70	(5.80)	16.69	(6.02)	48.38
TM	1.20	(0.12)	0.00	(0.04)	0.00	0.00	2.55	(2.09)	7.01
VC	1.61	0.56	0.34	0.66	1.11	(2.00)	4.59	(2.31)	10.00
ZK	2.04	0.45	0.17	0.71	2.00	(2.49)	5.22	(3.16)	17.58
DORM	1.25	(0.02)	(0.01)	0.11	1.69	(1.20)	2.14	(2.78)	10.18
VLCN	6.79	2.18	0.41	1.27	4.40	(8.94)	9.63	(7.95)	30.72

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

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