Ferrari NV Correlations

RACE Stock

USD 499.22 4.21 0.84%

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

Significant diversification

The correlation between Ferrari NV and DJI is 0.02 (i.e., Significant 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.

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 main economic indicators.

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

Moving together with Ferrari Stock

0.77	IH	Ihuman Inc	Pair Corr
0.63	BBY	Best Buy Earnings Call Today	Pair Corr
0.64	DPZ	Dominos Pizza Common	Pair Corr
0.67	LTH	Life Time Group	Pair Corr
0.88	MAT	Mattel Inc	Pair Corr
0.75	MCD	McDonalds	Pair Corr

Moving against Ferrari Stock

0.73	DOOO	BRP Inc	Pair Corr
0.59	GM	General Motors	Pair Corr
0.59	MOD	Modine Manufacturing	Pair Corr
0.46	TSLA	Tesla Inc	Pair Corr
0.42	CAL	Continental	Pair Corr
0.41	CMG	Chipotle Mexican Grill	Pair Corr
0.38	F	Ford Motor Earnings Call Today	Pair Corr
0.38	DOGZ	Dogness International Earnings Call Today	Pair Corr
0.33	FUN	Six Flags Entertainment	Pair Corr
0.31	GV	Visionary Education	Pair Corr
0.31	WING	Wingstop	Pair Corr
0.86	WWW	Wolverine World Wide	Pair Corr
0.85	SDA	SunCar Technology	Pair Corr
0.67	MODG	Callaway Golf Sell-off Trend	Pair Corr
0.62	JOUT	Johnson Outdoors	Pair Corr
0.45	LIDR	Aeye Inc	Pair Corr
0.38	GOLF	Acushnet Holdings Corp Earnings Call Today	Pair Corr
0.35	PLAY	Dave Busters Enterta	Pair Corr

Related Correlations Analysis

	VWAPY	VWAGY	POAHF	BMWYY	TM	GM	HMC	STLA	F	NSANY
VWAPY		1.0	0.89	0.0	0.39	-0.71	0.48	0.52	-0.63	0.0	VWAPY
VWAGY	1.0		0.89	0.0	0.35	-0.71	0.46	0.55	-0.62	0.0	VWAGY
POAHF	0.89	0.89		0.0	0.44	-0.6	0.49	0.47	-0.54	0.0	POAHF
BMWYY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	BMWYY
TM	0.39	0.35	0.44	0.0		-0.25	0.73	-0.12	-0.51	0.0	TM
GM	-0.71	-0.71	-0.6	0.0	-0.25		-0.28	-0.24	0.83	0.0	GM
HMC	0.48	0.46	0.49	0.0	0.73	-0.28		-0.09	-0.42	0.0	HMC
STLA	0.52	0.55	0.47	0.0	-0.12	-0.24	-0.09		-0.09	0.0	STLA
F	-0.63	-0.62	-0.54	0.0	-0.51	0.83	-0.42	-0.09		0.0	F
NSANY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		NSANY
	VWAPY	VWAGY	POAHF	BMWYY	TM	GM	HMC	STLA	F	NSANY

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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

VWAGY	+ 1.0	VWAPY
POAHF	+ 0.89	VWAPY
POAHF	+ 0.89	VWAGY
F	+ 0.83	GM
HMC	+ 0.73	TM
STLA	+ 0.55	VWAGY

High negative correlations

GM	- 0.71	VWAGY
GM	- 0.71	VWAPY
F	- 0.63	VWAPY
F	- 0.62	VWAGY
GM	- 0.6	POAHF
F	- 0.54	POAHF

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
VWAPY	1.26	0.34	0.20	1.23	1.31	(1.40)	2.94	(2.63)	8.27
VWAGY	1.31	0.32	0.20	1.13	1.29	(1.49)	3.30	(2.47)	7.81
POAHF	1.65	0.15	0.07	1.12	1.87	(1.86)	3.59	(3.16)	8.20
BMWYY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TM	1.26	0.04	0.03	0.05	1.60	(1.36)	3.04	(2.49)	13.50
GM	1.65	(0.26)	0.00	(0.23)	0.00	0.00	2.92	(3.34)	14.61
HMC	1.54	0.09	0.04	(0.26)	1.91	(1.64)	3.94	(3.62)	17.81
STLA	1.71	0.08	0.03	0.23	2.58	(1.51)	3.75	(4.04)	9.53
F	1.35	(0.21)	0.00	(0.27)	0.00	0.00	2.46	(2.90)	10.97
NSANY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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