Pro Analysis

These stocks should take a hit because of Ford's profit warning


A Ford hybrid vehicle on the assembly line in Wayne, Michigan.
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A Ford hybrid vehicle on the assembly line in Wayne, Michigan.

Ford just came out and warned first-quarter profit would be as low as 30 cents a share, below the 47 cents a share current consensus on Wall Street. The shares were set to open almost 3 percent lower.

The following stocks in the Russell 1000 Index have the highest correlation with Ford over the last 6 months, according to Kensho. So if Ford falls 3 percent, expect these stocks to decline nearly as much.

Traders will use these correlations to their advantage. For example, CNBC's Jim Cramer said after the Ford warning that he would use any weakness in General Motors as a buying opportunity.