3D Systems Correlations

DDD Stock

USD 1.78 0.02 1.14%

The current 90-days correlation between 3D Systems and Stratasys is 0.48 (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

Weak diversification

The correlation between 3D Systems and DJI is 0.39 (i.e., 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.

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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 private.

For information on how to trade DDD Stock refer to our How to Trade DDD Stock guide.

Moving against DDD Stock

0.45	CW	Curtiss Wright	Pair Corr
0.39	AZ	A2Z Smart Technologies	Pair Corr
0.38	AL	Air Lease	Pair Corr
0.37	DE	Deere Company Earnings Call This Week	Pair Corr
0.36	CP	Canadian Pacific Railway	Pair Corr
0.34	DY	Dycom Industries	Pair Corr
0.34	GE	GE Aerospace	Pair Corr
0.44	DLHC	DLH Holdings Corp	Pair Corr

Related Correlations Analysis

	SSYS	NNDM	PSTG	PRLB	VIVS
SSYS		0.19	0.41	0.4	0.05	SSYS
NNDM	0.19		-0.29	-0.34	0.2	NNDM
PSTG	0.41	-0.29		0.28	0.22	PSTG
PRLB	0.4	-0.34	0.28		0.04	PRLB
VIVS	0.05	0.2	0.22	0.04		VIVS
	SSYS	NNDM	PSTG	PRLB	VIVS

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

PSTG	+ 0.41	SSYS
PRLB	+ 0.4	SSYS
PRLB	+ 0.28	PSTG
VIVS	+ 0.22	PSTG
VIVS	+ 0.2	NNDM
NNDM	+ 0.19	SSYS

High negative correlations

PRLB	- 0.34	NNDM
PSTG	- 0.29	NNDM

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
SSYS	1.70	0.07	0.06	0.17	1.63	(2.10)	3.88	(2.44)	19.93
NNDM	1.76	(0.46)	0.00	(0.16)	0.00	0.00	3.87	(3.57)	12.24
PSTG	1.72	0.40	0.08	(0.44)	2.14	(1.93)	3.34	(3.35)	17.95
PRLB	1.55	0.15	0.09	0.23	1.61	(1.61)	2.96	(2.81)	9.75
VIVS	3.34	(0.23)	0.00	(0.02)	0.00	0.00	7.25	(6.97)	27.54

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