Money The Tesla share is more and more decoupled from the broad market - which is behind the
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in the run-up to Teslas balance sheet template in the coming week made an analyst of RBC Capital Marktes with regard to the share of the E car manufacturer an unusual discovery: unlike in the Past barely correlates the Tesla stock with the papers of other great US tech companies. A possible cause is quickly found.
• Tesla shares developed in the past similar to other large tech corporations
• Correlation between Tesla and NASDAQ 100 recently massively sunk
• Experts see Bitcoin and upcoming quarter numbers as Reason
In the past, theshare usually developed in the same step with other large US companies from the tech area. As reported "Bloomberg", the value for the 20-day correlation between the share of the E car manufacturer and the was still in mid-June at 0.83 and thus quite close to 1.0, which is a perfect one Correlation describes. Within a month, however, the situation has changed and the 20-day correlation was only 0.14 in mid-July. This is very low, considering that no correlation is recognizable at a value of 0.
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Also, at viewing the price development since the beginning of July, Tesla has decoupled from the broad market. Because during the NASDAQ 100 has been able to increase by around 1.19 percent for the beginning of the month, Tesla papers lost 2.8 percent in the same period (as of 20 July).experts: This investment is to blame the behavior of the Tesla share
Tesla is actually highly correlated with Big Tech, ie the tech shares, which have a particularly high market capitalization, wrote Amy Wu Silverman, derivatives strategist atCapital Markets , in a comment that is "Bloomberg". "This relationship has been really decoupled in recent times," says the expert. When looking for a reason, there is obviously unity among the stock professionals: "When I ask for, I get the feedback that this is related to your risk position and how it must be shown when you submit the quarterly figures," wrote Silverman further.
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The cause of the declining correlation between the Tesla share and Big Tech is therefore a unanimous opinion of the Bitcoin. The Group around Elon Musk had made a large bitcoin investment in February. Part of the coins was then sold again, which helped to write Tesla. Also on the balance sheet for the second quarter, which will be presented by the E car manufacturer on July 26, the bitcoin investment should have an impact, but probably no longer positive. Because the biggest crypto currency is currently moving very well under its former all-time high of in mid-April at just under $ 65,000 US dollars. At times, it has probably fell by the course slide . Due to the special position of crypto currencies, Tesla will use the lowest price in the balancing quarter for accounting and thus have to pay a loss in relation to the Bitcoin Investment.
At the stock market, investors obviously already introduce themselves - and since no other large Tech Group is followed by a bitcoin investment to the role model of Tesla, the Tesla share is now treated differently in advance of the balance sheet template than other titles from the sector . Whether the correlation between the Tesla share and the NASDAQ 100 will therefore remain so low even after presenting the quarterly numbers or will resign again at the usual level, remains to be seen.Redaction Finanzen.net
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