3D Systems Correlations

DDD Stock

USD 2.43 0.21 7.95%

The current 90-days correlation between 3D Systems and Nano Dimension is 0.33 (i.e., Weak diversification). The correlation of 3D Systems is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

3D Systems Correlation With Market

Good diversification

The correlation between 3D Systems and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 3D Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with DDD Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in 3D Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For information on how to trade DDD Stock refer to our How to Trade DDD Stock guide.

Moving together with DDD Stock

0.73	EPAC	Enerpac Tool Group	Pair Corr
0.69	AIN	Albany International	Pair Corr
0.73	XYL	Xylem Inc	Pair Corr
0.66	688700	Kunshan Dongwei Tech	Pair Corr
0.61	002786	Shenzhen Silver Basis	Pair Corr
0.65	002021	Zoje Resources Investment	Pair Corr
0.64	300786	Guolin Environmental Tech	Pair Corr
0.81	300976	Dongguan Tarry Elect	Pair Corr
0.77	MCRP	Micropolis Holding Trending	Pair Corr
0.82	OTIS	Otis Worldwide Corp Earnings Call Tomorrow	Pair Corr
0.74	301360	Rongcheer Industrial	Pair Corr

Moving against DDD Stock

0.43	PH	Parker Hannifin Earnings Call This Week	Pair Corr
0.62	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.42	TLK	Telkom Indonesia Tbk	Pair Corr

Related Correlations Analysis

	NNDM	MVIS	LSAK	VERI	RXT	BZAI	BGIN	RPAY	GRRR	RMNI
NNDM		-0.15	0.27	0.03	-0.2	-0.12	-0.02	-0.03	0.21	0.15	NNDM
MVIS	-0.15		-0.12	0.76	0.92	0.95	0.81	0.82	0.77	0.73	MVIS
LSAK	0.27	-0.12		0.05	-0.15	-0.17	-0.07	0.21	-0.13	0.03	LSAK
VERI	0.03	0.76	0.05		0.84	0.78	0.59	0.76	0.62	0.77	VERI
RXT	-0.2	0.92	-0.15	0.84		0.95	0.79	0.82	0.71	0.76	RXT
BZAI	-0.12	0.95	-0.17	0.78	0.95		0.83	0.81	0.82	0.75	BZAI
BGIN	-0.02	0.81	-0.07	0.59	0.79	0.83		0.75	0.74	0.57	BGIN
RPAY	-0.03	0.82	0.21	0.76	0.82	0.81	0.75		0.57	0.75	RPAY
GRRR	0.21	0.77	-0.13	0.62	0.71	0.82	0.74	0.57		0.58	GRRR
RMNI	0.15	0.73	0.03	0.77	0.76	0.75	0.57	0.75	0.58		RMNI
	NNDM	MVIS	LSAK	VERI	RXT	BZAI	BGIN	RPAY	GRRR	RMNI

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BZAI	+ 0.95	MVIS
BZAI	+ 0.95	RXT
RXT	+ 0.92	MVIS
RXT	+ 0.84	VERI
BGIN	+ 0.83	BZAI
RPAY	+ 0.82	MVIS

High negative correlations

RXT	- 0.2	NNDM
BZAI	- 0.17	LSAK
RXT	- 0.15	LSAK
MVIS	- 0.15	NNDM
GRRR	- 0.13	LSAK
LSAK	- 0.12	MVIS

Risk-Adjusted Indicators

There is a big difference between DDD Stock performing well and 3D Systems Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze 3D Systems' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NNDM	2.25	(0.03)	0.01	0.05	2.82	(2.50)	6.21	(4.79)	16.30
MVIS	3.03	(0.58)	0.00	(0.26)	0.00	0.00	6.38	(7.45)	15.60
LSAK	1.75	0.14	0.04	1.31	1.98	(2.09)	4.74	(3.77)	11.28
VERI	4.31	(0.74)	0.00	(0.16)	0.00	0.00	8.43	(8.63)	32.55
RXT	3.06	(1.04)	0.00	(0.63)	0.00	0.00	4.12	(6.19)	37.89
BZAI	3.96	(1.51)	0.00	(0.83)	0.00	0.00	6.40	(8.85)	21.80
BGIN	4.45	(0.37)	0.00	(2.81)	0.00	0.00	10.71	(9.71)	29.07
RPAY	2.71	(0.35)	0.00	(0.34)	0.00	0.00	4.76	(7.59)	22.07
GRRR	3.46	(0.46)	0.00	(0.16)	0.00	0.00	9.43	(7.66)	19.51
RMNI	1.67	(0.37)	0.00	(0.22)	0.00	0.00	2.53	(3.72)	15.77

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