Tesla still sells cars. Its stock has stopped trading like it. Over the past 20 sessions, the daily moves of Tesla (TSLA) have had a correlation of 0.64 with SpaceX (SPCX), according to Yahoo Finance calculations. Correlation measures how consistently two stocks move in the same direction, where 1 means they always move in lockstep. In SpaceX's first 20 sessions after its June IPO, the reading was just 0.15. The two stocks finished in the same direction on 15 of the last 20 days. Yahoo Finance Detroit has gone the other way. Tesla's correlation with GM (GM) over the same stretch is -0.10, and with Ford (F) it's -0.14. Both readings were positive throughout the summer, mostly between 0.3 and 0.4. Since Sept.
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