We analyse the kinematics of ~400000 RAVE stars. We split the sample into hot and cold dwarfs, red-clump and non-clump giants. The kinematics of the clump giants are consistent with being identical with those of non-clump giants. We fit Gaussian velocity ellipsoids to the meridional-plane components of velocity of each star class and give formulae from which the shape and orientation of the velocity ellipsoid can be determined at any location. The data are consistent with the giants and the c...