3D Systems Correlations

Stocks . USA . 
Stock . 3D Systems
DDD Stock  USD 1.76  0.04  2.33%   
The current 90-days correlation between 3D Systems and Stratasys is 0.5 (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

Very weak diversification

The correlation between 3D Systems and DJI is 0.41 (i.e., Very 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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Moving together with DDD Stock

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Moving against DDD Stock

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Related Correlations Analysis

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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   
PRLB
+ 0.91
SSYS
PSTG
+ 0.89
SSYS
PRLB
+ 0.83
PSTG
VIVS
+ 0.49
NNDM
PRLB
+ 0.29
NNDM
NNDM
+ 0.18
SSYS
  
High negative correlations   
VIVS
- 0.16
SSYS
VIVS
- 0.06
PSTG
VIVS
- 0.0
PRLB

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.

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