Correlation Between Voxeljet and Nano Dimension

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Can any of the company-specific risk be diversified away by investing in both Voxeljet and Nano Dimension at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Voxeljet and Nano Dimension into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Voxeljet Ag and Nano Dimension, you can compare the effects of market volatilities on Voxeljet and Nano Dimension and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Voxeljet with a short position of Nano Dimension. Check out your portfolio center. Please also check ongoing floating volatility patterns of Voxeljet and Nano Dimension.

Diversification Opportunities for Voxeljet and Nano Dimension

VoxeljetNanoDiversified AwayVoxeljetNanoDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Voxeljet and Nano is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Voxeljet Ag and Nano Dimension in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nano Dimension and Voxeljet is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Voxeljet Ag are associated (or correlated) with Nano Dimension. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nano Dimension has no effect on the direction of Voxeljet i.e., Voxeljet and Nano Dimension go up and down completely randomly.

Pair Corralation between Voxeljet and Nano Dimension

If you would invest (100.00) in Voxeljet Ag on November 27, 2024 and sell it today you would earn a total of  100.00  from holding Voxeljet Ag or generate -100.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Voxeljet Ag  vs.  Nano Dimension

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb 0510152025
JavaScript chart by amCharts 3.21.15VJET NNDM
       Timeline  
Voxeljet Ag 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Voxeljet Ag has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable technical and fundamental indicators, Voxeljet is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.
Nano Dimension 

Risk-Adjusted Performance

Weak

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Nano Dimension are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy fundamental indicators, Nano Dimension is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb2.22.32.42.52.62.7

Voxeljet and Nano Dimension Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15 0.0050.0100.0150.0200.025
JavaScript chart by amCharts 3.21.15VJET NNDM
       Returns  

Pair Trading with Voxeljet and Nano Dimension

The main advantage of trading using opposite Voxeljet and Nano Dimension positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Voxeljet position performs unexpectedly, Nano Dimension can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Nano Dimension will offset losses from the drop in Nano Dimension's long position.
The idea behind Voxeljet Ag and Nano Dimension pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Managers module to screen money managers from public funds and ETFs managed around the world.

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