Tesla Correlations

TSLA Stock

USD 235.86 10.55 4.68%

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

Weak diversification

The correlation between Tesla Inc and DJI is 0.34 (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

0.7	GM	General Motors Aggressive Push	Pair Corr
0.69	QS	Quantumscape Corp Aggressive Push	Pair Corr
0.87	VLCN	Volcon Inc	Pair Corr
0.83	ECDA	ECD Automotive Design	Pair Corr
0.8	EVTV	Envirotech Vehicles Earnings Call This Week	Pair Corr
0.86	WKHS	Workhorse Group	Pair Corr
0.84	WKSP	Worksport	Pair Corr
0.81	AXL	American Axle Manufa	Pair Corr
0.83	BWA	BorgWarner	Pair Corr
0.78	FOXF	Fox Factory Holding	Pair Corr
0.69	GGR	Gogoro Inc	Pair Corr
0.8	HOG	Harley Davidson	Pair Corr
0.92	LOT	Lotus Technology American	Pair Corr
0.8	MGA	Magna International	Pair Corr
0.85	MOD	Modine Manufacturing	Pair Corr
0.83	XPEL	Xpel Inc	Pair Corr
0.92	SEG	Seaport Entertainment	Pair Corr
0.82	SMP	Standard Motor Products	Pair Corr

Moving against Tesla Stock

0.83	LI	Li Auto	Pair Corr
0.43	DAN	Dana Inc	Pair Corr
0.93	XPEV	Xpeng Inc	Pair Corr
0.83	NIU	Niu Technologies Earnings Call Tomorrow	Pair Corr
0.8	ECX	ECARX Holdings Class	Pair Corr
0.61	PEV	Phoenix Motor Common	Pair Corr
0.42	HMC	Honda Motor	Pair Corr
0.4	NIO	Nio Class A	Pair Corr

Related Correlations Analysis

	XPEV	LI	RIVN	LCID	GM	NIO	F	FSR	MULN
XPEV		0.85	-0.83	-0.7	-0.67	0.46	-0.04	0.0	-0.74	XPEV
LI	0.85		-0.67	-0.52	-0.59	0.46	-0.24	0.0	-0.61	LI
RIVN	-0.83	-0.67		0.78	0.58	-0.21	0.03	0.0	0.68	RIVN
LCID	-0.7	-0.52	0.78		0.37	-0.37	-0.24	0.0	0.28	LCID
GM	-0.67	-0.59	0.58	0.37		0.01	0.56	0.0	0.69	GM
NIO	0.46	0.46	-0.21	-0.37	0.01		0.32	0.0	0.06	NIO
F	-0.04	-0.24	0.03	-0.24	0.56	0.32		0.0	0.32	F
FSR	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FSR
MULN	-0.74	-0.61	0.68	0.28	0.69	0.06	0.32	0.0		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

LI	+ 0.85	XPEV
LCID	+ 0.78	RIVN
MULN	+ 0.69	GM
MULN	+ 0.68	RIVN
GM	+ 0.58	RIVN
F	+ 0.56	GM

High negative correlations

RIVN	- 0.83	XPEV
MULN	- 0.74	XPEV
LCID	- 0.7	XPEV
RIVN	- 0.67	LI
GM	- 0.67	XPEV
MULN	- 0.61	LI

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	3.62	0.93	0.26	11.41	3.41	(4.09)	8.29	(6.11)	21.34
LI	3.10	0.40	0.12	0.79	3.51	(3.37)	6.20	(4.92)	24.14
RIVN	3.06	(0.12)	0.00	(0.19)	0.00	0.00	5.90	(4.95)	32.24
LCID	3.70	0.22	0.04	0.09	4.87	(3.70)	8.58	(7.55)	28.24
GM	1.76	0.02	0.00	(0.08)	0.00	0.00	3.39	(3.56)	14.61
NIO	2.97	0.21	0.08	1.22	3.40	(3.27)	5.21	(4.85)	24.30
F	1.44	0.07	0.00	(0.03)	0.00	0.00	2.71	(2.89)	10.14
FSR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MULN	11.01	(6.69)	0.00	(3.92)	0.00	0.00	14.58	(27.78)	97.92

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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