Tesla Correlations

TSLA Stock

USD 357.93 6.51 1.85%

The current 90-days correlation between Tesla Inc and Li Auto is 0.06 (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

Weak diversification

The correlation between Tesla Inc and DJI is 0.35 (i.e., 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.

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

0.79	GM	General Motors	Pair Corr
0.87	GT	Goodyear Tire Rubber	Pair Corr
0.61	XPEV	Xpeng Inc Aggressive Push	Pair Corr
0.88	BH	Biglari Holdings	Pair Corr
0.75	EVRI	Everi Holdings	Pair Corr
0.64	CMG	Chipotle Mexican Grill Aggressive Push	Pair Corr
0.82	DPZ	Dominos Pizza	Pair Corr
0.71	DRI	Darden Restaurants	Pair Corr
0.73	MPX	Marine Products Fiscal Year End 23rd of January 2025	Pair Corr
0.81	GAMB	Gambling Group	Pair Corr
0.7	INSE	Inspired Entertainment	Pair Corr
0.9	LIND	Lindblad Expeditions	Pair Corr

Moving against Tesla Stock

0.74	LCID	Lucid Group	Pair Corr
0.73	ECDA	ECD Automotive Design Symbol Change	Pair Corr
0.55	WING	Wingstop	Pair Corr
0.48	NIO	Nio Class A Aggressive Push	Pair Corr
0.44	MULN	Mullen Automotive	Pair Corr
0.64	LIVE	Live Ventures Fiscal Year End 18th of December 2024	Pair Corr
0.61	IGT	International Game	Pair Corr
0.59	HVT	Haverty Furniture	Pair Corr
0.31	SKX	Skechers USA	Pair Corr

Related Correlations Analysis

	XPEV	LI	RIVN	LCID	GM	NIO	F	FSR	MULN
XPEV		0.59	-0.68	-0.61	0.49	0.14	0.24	0.3	-0.8	XPEV
LI	0.59		-0.73	-0.19	-0.07	0.61	-0.16	0.4	-0.73	LI
RIVN	-0.68	-0.73		0.58	-0.34	-0.17	-0.11	-0.32	0.84	RIVN
LCID	-0.61	-0.19	0.58		-0.88	0.53	-0.48	-0.12	0.64	LCID
GM	0.49	-0.07	-0.34	-0.88		-0.7	0.73	0.03	-0.43	GM
NIO	0.14	0.61	-0.17	0.53	-0.7		-0.56	0.24	-0.14	NIO
F	0.24	-0.16	-0.11	-0.48	0.73	-0.56		0.02	-0.22	F
FSR	0.3	0.4	-0.32	-0.12	0.03	0.24	0.02		-0.53	FSR
MULN	-0.8	-0.73	0.84	0.64	-0.43	-0.14	-0.22	-0.53		MULN
	XPEV	LI	RIVN	LCID	GM	NIO	F	FSR	MULN

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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

MULN	+ 0.84	RIVN
F	+ 0.73	GM
MULN	+ 0.64	LCID
NIO	+ 0.61	LI
LI	+ 0.59	XPEV
LCID	+ 0.58	RIVN

High negative correlations

GM	- 0.88	LCID
MULN	- 0.8	XPEV
MULN	- 0.73	LI
RIVN	- 0.73	LI
NIO	- 0.7	GM
RIVN	- 0.68	XPEV

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
XPEV	3.97	0.68	0.13	1.34	4.49	(4.31)	9.00	(7.26)	26.26
LI	3.18	0.31	0.05	1.93	4.01	(3.42)	6.78	(7.07)	25.86
RIVN	2.86	(0.16)	0.00	(0.09)	0.00	0.00	5.37	(6.95)	28.00
LCID	2.79	(0.92)	0.00	(1.26)	0.00	0.00	4.23	(5.96)	30.74
GM	1.62	(0.01)	0.01	0.13	2.30	(1.62)	3.74	(3.53)	18.80
NIO	3.80	0.20	0.03	0.53	4.54	(3.86)	10.96	(7.21)	23.87
F	1.42	(0.21)	(0.06)	0.00	2.17	(1.43)	2.53	(2.90)	11.21
FSR	4.49	0.58	0.08	(2.08)	4.70	(5.02)	9.41	(7.36)	37.41
MULN	9.38	(2.30)	0.00	1.34	0.00	0.00	18.52	(17.65)	100.65

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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