3D Printing Correlations

PRNT Etf

USD 21.83 0.25 1.13%

The current 90-days correlation between 3D Printing and iShares Dividend and is 0.61 (i.e., Poor diversification). The correlation of 3D Printing 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.

3D Printing Correlation With Market

Poor diversification

The correlation between The 3D Printing and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The 3D Printing and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with PRNT Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in The 3D Printing. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with PRNT Etf

0.89	VGT	Vanguard Information	Pair Corr
0.89	XLK	Technology Select Sector	Pair Corr
0.89	IYW	iShares Technology ETF	Pair Corr
0.87	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	SOXX	iShares Semiconductor ETF	Pair Corr
0.86	CIBR	First Trust NASDAQ	Pair Corr
0.89	FTEC	Fidelity MSCI Information	Pair Corr
0.91	IGV	iShares Expanded Tech	Pair Corr
0.9	FDN	First Trust Dow	Pair Corr
0.89	IGM	iShares Expanded Tech	Pair Corr
0.71	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.89	ITDD	iShares Trust	Pair Corr
0.85	GE	GE Aerospace	Pair Corr
0.86	CSCO	Cisco Systems	Pair Corr
0.9	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.9	BA	Boeing Sell-off Trend	Pair Corr
0.87	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.84	DD	Dupont De Nemours	Pair Corr
0.64	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.88	BAC	Bank of America	Pair Corr
0.72	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.85	MMM	3M Company	Pair Corr

Moving against PRNT Etf

0.61	MPAY	Exchange Traded Concepts	Pair Corr
0.52	MCD	McDonalds Earnings Call This Week	Pair Corr
0.49	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	DIVB	MCSE	GK	MJ	XT	METV	DMAT	DMCY	DMXF
DIVB		0.91	0.97	0.08	0.98	0.95	0.88	0.97	0.93	DIVB
MCSE	0.91		0.88	0.16	0.92	0.88	0.8	0.94	0.93	MCSE
GK	0.97	0.88		0.13	0.99	0.99	0.94	0.96	0.91	GK
MJ	0.08	0.16	0.13		0.1	0.16	0.33	0.03	-0.05	MJ
XT	0.98	0.92	0.99	0.1		0.98	0.93	0.97	0.93	XT
METV	0.95	0.88	0.99	0.16	0.98		0.95	0.94	0.89	METV
DMAT	0.88	0.8	0.94	0.33	0.93	0.95		0.87	0.79	DMAT
DMCY	0.97	0.94	0.96	0.03	0.97	0.94	0.87		0.99	DMCY
DMXF	0.93	0.93	0.91	-0.05	0.93	0.89	0.79	0.99		DMXF
	DIVB	MCSE	GK	MJ	XT	METV	DMAT	DMCY	DMXF

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

XT	+ 0.99	GK
METV	+ 0.99	GK
DMXF	+ 0.99	DMCY
XT	+ 0.98	DIVB
METV	+ 0.98	XT
GK	+ 0.97	DIVB

High negative correlations

DMXF

- 0.05

3D Printing Constituents Risk-Adjusted Indicators

There is a big difference between PRNT Etf performing well and 3D Printing ETF 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 Printing'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
DIVB	0.54	0.02	0.01	0.18	0.40	(0.63)	1.61	(0.89)	4.54
MCSE	0.68	(0.05)	(0.08)	0.10	0.70	(0.75)	1.79	(1.06)	4.49
GK	0.60	0.22	0.28	0.48	0.00	(0.77)	1.59	(0.88)	4.42
MJ	2.13	(0.10)	(0.04)	0.06	2.51	(2.41)	5.47	(3.58)	13.82
XT	0.62	0.10	0.12	0.28	0.30	(0.71)	1.75	(1.12)	4.97
METV	0.87	0.33	0.39	0.59	0.00	(1.14)	2.61	(1.12)	5.76
DMAT	1.09	0.42	0.23	3.60	0.69	(1.30)	2.76	(1.84)	5.61
DMCY	0.50	0.03	(0.04)	0.21	0.49	(0.53)	1.16	(1.19)	3.73
DMXF	0.59	0.02	(0.06)	0.20	0.50	(0.69)	1.40	(1.03)	3.77

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC