GM vs TSLA: Correlation
Measured on weekly returns over the past three years, General Motors (GM) and Tesla, Inc. (TSLA) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GM and TSLA?
Across a 3-year window, the weekly returns of GM and TSLA correlate at 0.28, weak. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.28). Stretching to 5 years gives 0.38, with an annualized covariance of 477.0 %².
Among the 35 assets we track against GM, TSLA ranks #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GM outperformed by 46.5 percentage points (+48.0% for GM against +1.5% for TSLA). On a rolling one-year basis the correlation drifted between 0.12 and 0.58, a moderate band. Risk is not evenly split, since TSLA carries 1.7 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
GM vs TSLA: side by side
| GM (General Motors) | TSLA (Tesla, Inc.) | |
|---|---|---|
| 1-year return | +48.0% | +1.5% |
| 5-year return | +82.5% | +45.6% |
| Volatility (ann.) | 32.2% | 53.9% |
| Beta vs S&P 500 | 0.98 | 1.87 |
| Max drawdown (3Y) | -29.1% | -53.8% |
| Market cap | $77.9B | $1,401.3B |
| P/E (trailing) | 38.6 | 322.6 |
| Dividend yield | 0.76% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | GM | TSLA |
|---|---|---|
| 2022 | -42.4% | -65.0% |
| 2023 | +7.9% | +101.7% |
| 2024 | +49.8% | +62.5% |
| 2025 | +54.2% | +11.4% |
| 2026 | +6.5% | -21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GM and TSLA good diversifiers for each other?
Reasonably. At 0.28, GM and TSLA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GM and TSLA?
As of 2026-08-27, the correlation of weekly returns between GM and TSLA is 0.28 over 3 years, 0.12 over 1 year and 0.38 over 5 years.
Is TSLA a good diversifier for GM?
Reasonably. At 0.28, GM and TSLA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: GM correlations · TSLA correlations
