Ferrari NV Correlations

RACE Stock

USD 453.28 6.85 1.53%

The current 90-days correlation between Ferrari NV and Volkswagen AG Pref is 0.37 (i.e., Weak diversification). 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

Very weak diversification

The correlation between Ferrari NV and DJI is 0.4 (i.e., Very weak 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

0.68

DAN

Dana Inc

Pair Corr

Moving against Ferrari Stock

0.71	VLCN	Volcon Inc	Pair Corr
0.62	GM	General Motors Aggressive Push	Pair Corr
0.58	EVTV	Envirotech Vehicles Earnings Call This Week	Pair Corr
0.5	FOXF	Fox Factory Holding	Pair Corr
0.48	BWA	BorgWarner	Pair Corr
0.43	ZK	ZEEKR Intelligent	Pair Corr
0.41	F	Ford Motor Aggressive Push	Pair Corr
0.39	FLYE	Fly E Group,	Pair Corr
0.34	WKHS	Workhorse Group	Pair Corr
0.67	SRI	Stoneridge	Pair Corr
0.54	MOD	Modine Manufacturing	Pair Corr
0.48	HOG	Harley Davidson	Pair Corr
0.46	LOT	Lotus Technology American	Pair Corr
0.46	SUP	Superior Industries	Pair Corr
0.45	MGA	Magna International	Pair Corr
0.42	FRSX	Foresight Autonomous	Pair Corr
0.39	VFS	VinFast Auto Buyout Trend	Pair Corr
0.32	SEG	Seaport Entertainment	Pair Corr

Related Correlations Analysis

	VWAPY	VWAGY	POAHF	BMWYY	TM	GM	HMC	STLA	F	NSANY
VWAPY		1.0	0.91	0.0	0.09	-0.59	0.44	-0.23	0.04	0.0	VWAPY
VWAGY	1.0		0.92	0.0	0.07	-0.6	0.43	-0.18	0.03	0.0	VWAGY
POAHF	0.91	0.92		0.0	0.16	-0.52	0.43	-0.11	0.06	0.0	POAHF
BMWYY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	BMWYY
TM	0.09	0.07	0.16	0.0		0.18	0.76	-0.26	0.06	0.0	TM
GM	-0.59	-0.6	-0.52	0.0	0.18		-0.05	0.13	0.56	0.0	GM
HMC	0.44	0.43	0.43	0.0	0.76	-0.05		-0.27	0.04	0.0	HMC
STLA	-0.23	-0.18	-0.11	0.0	-0.26	0.13	-0.27		0.1	0.0	STLA
F	0.04	0.03	0.06	0.0	0.06	0.56	0.04	0.1		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

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

VWAGY	+ 1.0	VWAPY
POAHF	+ 0.92	VWAGY
POAHF	+ 0.91	VWAPY
HMC	+ 0.76	TM
F	+ 0.56	GM
HMC	+ 0.44	VWAPY

High negative correlations

GM	- 0.6	VWAGY
GM	- 0.59	VWAPY
GM	- 0.52	POAHF
STLA	- 0.27	HMC
STLA	- 0.26	TM
STLA	- 0.23	VWAPY

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	1.32	0.47	0.30	1.05	1.24	(1.48)	3.37	(2.63)	8.27
VWAGY	1.42	0.47	0.31	0.74	1.23	(1.69)	3.33	(2.47)	8.90
POAHF	1.84	0.20	0.10	0.31	2.30	(2.00)	4.08	(4.67)	10.31
BMWYY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TM	1.42	0.23	0.13	0.13	1.62	(1.61)	3.40	(2.52)	13.50
GM	1.76	0.02	0.00	(0.08)	0.00	0.00	3.39	(3.56)	14.61
HMC	1.58	0.34	0.18	0.28	1.66	(1.83)	4.11	(3.62)	17.81
STLA	1.89	(0.01)	0.00	(0.11)	0.00	0.00	3.84	(4.38)	13.21
F	1.44	0.07	0.00	(0.03)	0.00	0.00	2.71	(2.89)	10.14
NSANY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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