3D Systems Correlations

DDD Stock

USD 2.08 0.03 1.46%

The current 90-days correlation between 3D Systems and Nano Dimension is 0.43 (i.e., Very 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

Very weak diversification

The correlation between 3D Systems and DJI is 0.44 (i.e., Very weak 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

0.65	CR	Crane Company	Pair Corr
0.65	VATE	Innovate Corp	Pair Corr
0.76	DPRO	Draganfly	Pair Corr
0.68	MBH3	Maschinenfabrik Berthold	Pair Corr

Moving against DDD Stock

0.49	BRM	BioRem Inc	Pair Corr
0.45	WAH	WOLFTANK ADISA HLDG	Pair Corr

Related Correlations Analysis

	NNDM	MVIS	LSAK	VERI	RXT	BZAI	BGIN	RPAY	GRRR	RMNI
NNDM		-0.58	0.32	-0.35	-0.7	-0.61	0.11	-0.15	0.18	-0.51	NNDM
MVIS	-0.58		-0.33	0.68	0.87	0.9	0.28	0.35	0.38	0.81	MVIS
LSAK	0.32	-0.33		-0.14	-0.4	-0.51	-0.02	0.37	-0.15	-0.22	LSAK
VERI	-0.35	0.68	-0.14		0.81	0.74	-0.04	0.52	0.2	0.92	VERI
RXT	-0.7	0.87	-0.4	0.81		0.93	0.12	0.37	0.19	0.93	RXT
BZAI	-0.61	0.9	-0.51	0.74	0.93		0.28	0.28	0.36	0.83	BZAI
BGIN	0.11	0.28	-0.02	-0.04	0.12	0.28		0.05	0.53	0.06	BGIN
RPAY	-0.15	0.35	0.37	0.52	0.37	0.28	0.05		-0.13	0.52	RPAY
GRRR	0.18	0.38	-0.15	0.2	0.19	0.36	0.53	-0.13		0.19	GRRR
RMNI	-0.51	0.81	-0.22	0.92	0.93	0.83	0.06	0.52	0.19		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	+ 0.93	RXT
RMNI	+ 0.93	RXT
RMNI	+ 0.92	VERI
BZAI	+ 0.9	MVIS
RXT	+ 0.87	MVIS
RMNI	+ 0.83	BZAI

High negative correlations

RXT	- 0.7	NNDM
BZAI	- 0.61	NNDM
MVIS	- 0.58	NNDM
BZAI	- 0.51	LSAK
RMNI	- 0.51	NNDM
RXT	- 0.4	LSAK

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	2.52	0.17	0.06	0.15	3.10	(2.81)	6.21	(5.14)	16.39
MVIS	3.53	(0.56)	0.00	(0.22)	0.00	0.00	7.06	(7.61)	18.98
LSAK	1.84	0.22	0.09	2.05	1.70	(2.26)	4.99	(3.01)	13.46
VERI	3.71	(0.84)	0.00	(0.23)	0.00	0.00	6.47	(8.79)	28.47
RXT	3.04	(1.60)	0.00	(1.15)	0.00	0.00	4.12	(7.69)	24.65
BZAI	4.61	(1.48)	0.00	(1.10)	0.00	0.00	7.38	(11.43)	29.46
BGIN	3.87	(0.25)	0.00	(0.06)	0.00	0.00	8.37	(9.12)	25.24
RPAY	2.28	(0.36)	0.00	(0.23)	0.00	0.00	3.79	(5.88)	16.12
GRRR	3.99	(0.20)	0.00	(0.05)	0.00	0.00	9.43	(7.66)	24.43
RMNI	1.54	(0.48)	0.00	(0.33)	0.00	0.00	2.53	(3.53)	9.53

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