United are a point clear at the top of the Premier League table after 10 games, and have secured their place in the next round of Champions League already - a far cry from last season's group stage fiasco.
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"I wouldn't say we are over-happy," Ferdinand explained to Sky Sports. "We are in the position we want to be. We set our stall out at the beginning of the Champions League to make sure we qualify comfortably. We have done that with games to spare.
"But in the league, Christmas is when we really evaluate it. If we are in the same position then as we are now, we would say it is a good start to the season.
"It is still too early to look at the league table and start singing and dancing."
Ferdinand's substitute appearance in the at Braga on Wednesday was his tenth of the season so far, and hopes he can form a good understanding with Johnny Evans at the heart of the team's defence.
"I have not been speaking about my injuries over the past few months because there haven't been any," he added. "Over the last 18 months I have managed it really well. The club have helped me. It is testament to the medical and science department that they have been able to help me along.
"It means I have been playing consistently, week in, week out. If the manager needs me to play in the midweek games, that is fine as well.
"I am more than capable of doing that, as I have proved over the past 18 months."