RACE vs TMQ: Correlation
Measured on weekly returns over the past three years, Ferrari N.V. (RACE) and Trilogy Metals Inc. (TMQ) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RACE and TMQ?
Over the past 3 years, RACE and TMQ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.28 over 3 years. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -1212.4 %².
Among the 13 assets we track against RACE, TMQ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months TMQ outperformed by 137.1 percentage points (-10.8% for RACE against +126.3% for TMQ). Risk is not evenly split, since TMQ carries 4.0 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.
RACE vs TMQ: side by side
| RACE (Ferrari N.V.) | TMQ (Trilogy Metals Inc.) | |
|---|---|---|
| 1-year return | -10.8% | +126.3% |
| 5-year return | +98.0% | +85.3% |
| Volatility (ann.) | 32.9% | 131.6% |
| Beta vs S&P 500 | 0.99 | 0.28 |
| Max drawdown (3Y) | -39.2% | -72.5% |
| Market cap | $72.8B | $0.7B |
| P/E (trailing) | 38.2 | – |
| Dividend yield | 0.88% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RACE | TMQ |
|---|---|---|
| 2022 | -16.7% | -66.7% |
| 2023 | +59.1% | -21.8% |
| 2024 | +26.3% | +169.8% |
| 2025 | -12.3% | +271.6% |
| 2026 | +13.3% | -12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RACE and TMQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between RACE and TMQ?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.48 over the last year and -0.18 over 5 years.
Is TMQ a good diversifier for RACE?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RACE correlations · TMQ correlations
