3D Printing Correlations

PRNT Etf

USD 22.31 0.22 1.00%

The current 90-days correlation between 3D Printing and Freedom Day Dividend is 0.61 (i.e., Poor diversification). The correlation of 3D Printing 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. If the correlation is 0, the equities are not correlated; they are entirely random.

3D Printing Correlation With Market

Average diversification

The correlation between The 3D Printing and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The 3D Printing and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in The 3D Printing. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with PRNT Etf

0.77	VGT	Vanguard Information	Pair Corr
0.72	XLK	Technology Select Sector	Pair Corr
0.79	IYW	iShares Technology ETF	Pair Corr
0.82	CIBR	First Trust NASDAQ	Pair Corr
0.77	FTEC	Fidelity MSCI Information	Pair Corr
0.87	IGV	iShares Expanded Tech	Pair Corr
0.85	FDN	First Trust Dow	Pair Corr
0.81	IGM	iShares Expanded Tech	Pair Corr
0.89	VTI	Vanguard Total Stock	Pair Corr
0.88	SPY	SPDR SP 500	Pair Corr
0.89	IVV	iShares Core SP	Pair Corr
0.82	VUG	Vanguard Growth Index	Pair Corr
0.67	VO	Vanguard Mid Cap	Pair Corr
0.75	VB	Vanguard Small Cap	Pair Corr
0.77	RFDA	RiverFront Dynamic	Pair Corr
0.74	AXP	American Express	Pair Corr
0.63	JPM	JPMorgan Chase	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.68	DIS	Walt Disney Earnings Call This Week	Pair Corr

Moving against PRNT Etf

0.63	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.47	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI
MBOX		0.13	0.0	-0.15	0.34	0.97	0.66	0.9	0.36	MBOX
DIEM	0.13		0.88	0.03	-0.52	0.2	0.55	0.28	0.72	DIEM
MCHI	0.0	0.88		0.17	-0.54	0.11	0.5	0.17	0.67	MCHI
DIPS	-0.15	0.03	0.17		-0.21	-0.06	0.2	0.0	0.23	DIPS
DISO	0.34	-0.52	-0.54	-0.21		0.24	-0.34	0.09	-0.41	DISO
DIVB	0.97	0.2	0.11	-0.06	0.24		0.77	0.95	0.43	DIVB
DIVD	0.66	0.55	0.5	0.2	-0.34	0.77		0.8	0.82	DIVD
DIVG	0.9	0.28	0.17	0.0	0.09	0.95	0.8		0.42	DIVG
DIVI	0.36	0.72	0.67	0.23	-0.41	0.43	0.82	0.42		DIVI
	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI

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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

DIVB	+ 0.97	MBOX
DIVG	+ 0.95	DIVB
DIVG	+ 0.9	MBOX
MCHI	+ 0.88	DIEM
DIVI	+ 0.82	DIVD
DIVG	+ 0.8	DIVD

High negative correlations

DISO	- 0.54	MCHI
DISO	- 0.52	DIEM
DIVI	- 0.41	DISO
DIVD	- 0.34	DISO
DISO	- 0.21	DIPS
DIPS	- 0.15	MBOX

3D Printing Constituents Risk-Adjusted Indicators

There is a big difference between PRNT Etf performing well and 3D Printing ETF 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 Printing's 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
MBOX	0.61	0.00	(0.05)	0.07	0.75	(0.67)	1.27	(1.03)	5.51
DIEM	0.61	(0.09)	0.00	(0.19)	0.00	0.00	1.32	(1.81)	5.07
MCHI	1.26	(0.05)	0.00	(0.05)	0.00	0.00	2.45	(2.72)	12.27
DIPS	1.72	0.08	(0.01)	(0.10)	2.59	(1.63)	2.53	(3.53)	23.85
DISO	0.81	0.17	0.13	1.05	0.59	(0.97)	1.51	(1.24)	6.23
DIVB	0.57	(0.02)	(0.09)	0.03	0.67	(0.65)	1.11	(0.76)	5.73
DIVD	0.52	(0.04)	0.00	(0.08)	0.00	0.00	0.89	(0.98)	3.36
DIVG	0.57	(0.04)	0.00	(0.07)	0.00	0.00	1.12	(1.12)	4.36
DIVI	0.56	(0.02)	(0.09)	(0.01)	0.79	(0.60)	1.14	(1.46)	3.80

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