Stratasys Correlations

SSYS Stock

USD 11.99 0.22 1.87%

The current 90-days correlation between Stratasys and Nano Dimension is 0.28 (i.e., Modest diversification). The correlation of Stratasys 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.

Stratasys Correlation With Market

Good diversification

The correlation between Stratasys and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stratasys and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stratasys. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For more information on how to buy Stratasys Stock please use our How to Invest in Stratasys guide.

Moving together with Stratasys Stock

0.81	IBM	International Business	Pair Corr
0.77	META	Meta Platforms Aggressive Push	Pair Corr
0.82	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.88	COST	Costco Wholesale Corp	Pair Corr
0.79	WMT	Walmart Earnings Call This Week	Pair Corr
0.66	JPM	JPMorgan Chase	Pair Corr
0.65	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Stratasys Stock

0.46	DIOD	Diodes Incorporated	Pair Corr
0.46	NVDA	NVIDIA Aggressive Push	Pair Corr
0.32	CAT	Caterpillar Sell-off Trend	Pair Corr
0.31	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	NNDM	IONQ	QBTS	VLD	DM	DDD	HPQ	CAN	PSTG	MKFG
NNDM		0.72	0.79	0.0	-0.61	0.6	-0.67	0.31	0.69	-0.7	NNDM
IONQ	0.72		0.88	0.0	-0.69	0.29	-0.67	0.38	0.71	-0.68	IONQ
QBTS	0.79	0.88		0.0	-0.71	0.3	-0.73	0.43	0.68	-0.66	QBTS
VLD	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VLD
DM	-0.61	-0.69	-0.71	0.0		-0.39	0.88	-0.01	-0.83	0.89	DM
DDD	0.6	0.29	0.3	0.0	-0.39		-0.41	-0.02	0.51	-0.5	DDD
HPQ	-0.67	-0.67	-0.73	0.0	0.88	-0.41		-0.13	-0.8	0.85	HPQ
CAN	0.31	0.38	0.43	0.0	-0.01	-0.02	-0.13		0.36	0.07	CAN
PSTG	0.69	0.71	0.68	0.0	-0.83	0.51	-0.8	0.36		-0.77	PSTG
MKFG	-0.7	-0.68	-0.66	0.0	0.89	-0.5	0.85	0.07	-0.77		MKFG
	NNDM	IONQ	QBTS	VLD	DM	DDD	HPQ	CAN	PSTG	MKFG

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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

MKFG	+ 0.89	DM
QBTS	+ 0.88	IONQ
HPQ	+ 0.88	DM
MKFG	+ 0.85	HPQ
QBTS	+ 0.79	NNDM
IONQ	+ 0.72	NNDM

High negative correlations

PSTG	- 0.83	DM
PSTG	- 0.8	HPQ
MKFG	- 0.77	PSTG
HPQ	- 0.73	QBTS
DM	- 0.71	QBTS
MKFG	- 0.7	NNDM

Risk-Adjusted Indicators

There is a big difference between Stratasys Stock performing well and Stratasys 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 Stratasys' 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	2.77	0.30	0.10	(0.32)	2.73	(3.45)	8.44	(4.10)	23.92
IONQ	7.03	1.14	0.11	1.00	8.96	(7.55)	16.51	(13.42)	62.59
QBTS	11.32	3.24	0.26	9.30	10.46	(12.98)	27.88	(12.30)	84.86
VLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DM	4.18	(0.72)	0.00	5.17	0.00	0.00	12.64	(9.20)	33.28
DDD	4.50	0.73	0.15	0.74	4.52	(6.23)	12.41	(6.08)	35.41
HPQ	1.31	(0.11)	0.00	(0.23)	0.00	0.00	2.30	(1.95)	14.73
CAN	6.55	0.94	0.13	(1.42)	6.76	(7.27)	16.48	(11.21)	56.65
PSTG	2.30	0.43	0.13	2.96	2.79	(2.40)	4.03	(4.82)	31.57
MKFG	2.63	(0.49)	0.00	(0.68)	0.00	0.00	4.19	(6.13)	32.42

Stratasys Corporate Management

Yonah Lloyd	CCO Relations	Profile
Omer Krieger	Exec Devel	Profile
Yossi Azarzar	Chief Officer	Profile
Yonah JD	CCO Relations	Profile
Nava Kazaz	Chief Officer	Profile
Vered Jacob	Chief Officer	Profile

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