Nano Dimension Correlations
| NNDM Stock | USD 2.45 0.01 0.41% |
The correlation of Nano Dimension 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nano Dimension moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nano Dimension moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very good diversification
The correlation between Nano Dimension and NYA is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nano Dimension and NYA in the same portfolio, assuming nothing else is changed.
Nano |
The ability to find closely correlated positions to Nano Dimension could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nano Dimension when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nano Dimension - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nano Dimension to buy it.
Moving together with Nano Stock
| 0.61 | ASX | ASE Industrial Holding | PairCorr |
| 0.77 | CRM | Salesforce Financial Report 29th of May 2024 | PairCorr |
| 0.62 | IBM | International Business Earnings Call This Week | PairCorr |
| 0.68 | TSM | Taiwan Semiconductor Aggressive Push | PairCorr |
Moving against Nano Stock
| 0.61 | LAW | CS Disco LLC Financial Report 8th of May 2024 | PairCorr |
| 0.47 | AAPL | Apple Inc Earnings Call This Week | PairCorr |
| 0.45 | WFCF | Where Food Comes | PairCorr |
| 0.41 | LPL | LG Display Financial Report 20th of May 2024 | PairCorr |
| 0.58 | MODN | Model N Financial Report 14th of May 2024 | PairCorr |
| 0.49 | JAMF | Jamf Holding Financial Report 2nd of May 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nano Stock performing well and Nano Dimension 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 Nano Dimension'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DM | 5.33 | 0.22 | 0.05 | 0.17 | 5.63 | 15.22 | 34.49 | |||
| HPQ | 1.01 | (0.16) | 0.00 | (0.06) | 0.00 | 1.81 | 7.21 | |||
| CRCT | 2.27 | 0.09 | (0.01) | (0.06) | 2.80 | 4.72 | 12.78 | |||
| SSYS | 2.12 | (0.51) | 0.00 | (0.87) | 0.00 | 4.24 | 16.01 | |||
| VLD | 7.65 | 0.82 | 0.03 | (0.13) | 10.61 | 17.86 | 69.13 | |||
| PSTG | 2.41 | 0.43 | 0.16 | 10.24 | 2.05 | 4.04 | 29.55 | |||
| STX | 1.44 | (0.03) | 0.00 | (0.06) | 0.00 | 3.30 | 11.42 | |||
| DELL | 2.62 | 0.76 | 0.26 | (1.81) | 2.03 | 4.85 | 36.69 | |||
| WDC | 1.83 | 0.32 | 0.12 | (1.28) | 1.69 | 4.33 | 11.44 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Nano Dimension without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Nano Dimension Corporate Directors
Nano Dimension corporate directors refer to members of a Nano Dimension board of directors. The board of directors generally takes responsibility for the Nano Dimension's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Nano Dimension's board members must vote for the resolution. The Nano Dimension board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Aviva Ami | External Director | Profile | |
| Gilay Dolev | Director | Profile | |
| Dagi BenNoon | COO, Director | Profile | |
| Ron Kleinfeld | External Director | Profile |
Already Invested in Nano Dimension?
The danger of trading Nano Dimension is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Nano Dimension is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Nano Dimension. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Nano Dimension is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Nano Dimension is a strong investment it is important to analyze Nano Dimension's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Nano Dimension's future performance. For an informed investment choice regarding Nano Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nano Dimension. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. To learn how to invest in Nano Stock, please use our How to Invest in Nano Dimension guide.Note that the Nano Dimension information on this page should be used as a complementary analysis to other Nano Dimension's statistical models used 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 Global Correlations module to find global opportunities by holding instruments from different markets.
Complementary Tools for Nano Stock analysis
When running Nano Dimension's price analysis, check to measure Nano Dimension's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Nano Dimension is operating at the current time. Most of Nano Dimension's value examination focuses on studying past and present price action to predict the probability of Nano Dimension's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nano Dimension's price. Additionally, you may evaluate how the addition of Nano Dimension to your portfolios can decrease your overall portfolio volatility.
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Is Nano Dimension's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Nano Dimension. If investors know Nano will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Nano Dimension listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.22) | Revenue Per Share 0.227 | Quarterly Revenue Growth 0.099 | Return On Assets (0.07) | Return On Equity (0.05) |
The market value of Nano Dimension is measured differently than its book value, which is the value of Nano that is recorded on the company's balance sheet. Investors also form their own opinion of Nano Dimension's value that differs from its market value or its book value, called intrinsic value, which is Nano Dimension's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Nano Dimension's market value can be influenced by many factors that don't directly affect Nano Dimension's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Nano Dimension's value and its price as these two are different measures arrived at by different means. Investors typically determine if Nano Dimension is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nano Dimension's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.