Seven shares within the S & P 500 are likely to rise alongside Tesla shares, in accordance with an evaluation of latest knowledge by CNBC Professional . The U.S.-listed shares are cybersecurity and networking gear maker Juniper Networks , digital storage agency Seagate Expertise , software program developer Tyler Applied sciences , pharmaceutical and biotech firms Regeneron Prescription drugs , Vertex Prescription drugs and Illumina , and pet well being care firm IDEXX Laboratories . The share worth performances of those S & P 500 shares have been extremely correlated to Tesla’s final month. Nevertheless, not like Tesla’s greater than 30% plunge this yr, these shares have both remained flat or have comparatively modest unfavourable returns. Tesla shares jumped in after-hours buying and selling Tuesday after CEO Elon Musk informed buyers that manufacturing of latest extra inexpensive EV fashions might start before anticipated. It got here after the corporate revealed a 9% drop in first-quarter income, the most important decline since 2012, and missed analysts’ estimates, as the electrical automobile firm weathers the impact of ongoing worth cuts. Within the tables under, a price of 1 within the correlation column implies that as Tesla’s inventory moved, both up or down, the share worth of the businesses listed moved in lockstep. A correlation of zero would point out no statistical hyperlink between the EV automaker’s inventory and the share worth of the seven firms. Correlated returns prior to now don’t point out causation or assure future returns or worth motion patterns. CNBC Professional’s evaluation used the Pearson correlation coefficient, the most typical method of measuring a linear correlation between two variables — on this case, inventory costs. CNBC’s calculations solely measure the route and dimension of every day worth motion. Longer-term returns should not thought-about. The consensus upside potential for the shares listed above was derived from FactSet’s ballot of analysts overlaying every inventory. — CNBC’s Lora Kolodny contributed to this report.