Nano Dimension Correlations

NNDM Stock

USD 2.16 0.05 2.26%

The current 90-days correlation between Nano Dimension and 3D Systems is 0.2 (i.e., Modest diversification). 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.

Nano Dimension Correlation With Market

Average diversification

The correlation between Nano Dimension and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nano Dimension and DJI in the same portfolio, assuming nothing else is changed.

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 closely tied 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.

Moving together with Nano Stock

0.76	STX	Seagate Technology PLC	Pair Corr
0.7	CRCT	Cricut Inc	Pair Corr
0.64	ADI	Analog Devices	Pair Corr

Moving against Nano Stock

0.62	WDAY	Workday	Pair Corr
0.56	INTU	Intuit Inc	Pair Corr
0.46	EPAM	EPAM Systems	Pair Corr
0.39	GTLB	Gitlab Inc Earnings Call Tomorrow	Pair Corr
0.38	NN	Nextnav Acquisition Corp	Pair Corr
0.37	CAN	Canaan Inc Buyout Trend	Pair Corr
0.33	ZM	Zoom Video Communications	Pair Corr
0.33	DXC	DXC Technology	Pair Corr

Related Correlations Analysis

	DM	DDD	VLD	MKFG	SSYS	IONQ	QBTS	PSTG	DELL	NTAP
DM		0.22	0.16	0.37	-0.46	-0.41	-0.53	0.32	-0.08	0.05	DM
DDD	0.22		-0.77	0.76	0.59	0.64	0.45	0.54	0.87	0.4	DDD
VLD	0.16	-0.77		-0.52	-0.68	-0.9	-0.75	-0.39	-0.85	-0.18	VLD
MKFG	0.37	0.76	-0.52		0.42	0.42	0.24	0.49	0.62	0.46	MKFG
SSYS	-0.46	0.59	-0.68	0.42		0.85	0.81	0.19	0.74	0.36	SSYS
IONQ	-0.41	0.64	-0.9	0.42	0.85		0.89	0.25	0.8	0.21	IONQ
QBTS	-0.53	0.45	-0.75	0.24	0.81	0.89		0.21	0.65	0.25	QBTS
PSTG	0.32	0.54	-0.39	0.49	0.19	0.25	0.21		0.43	0.73	PSTG
DELL	-0.08	0.87	-0.85	0.62	0.74	0.8	0.65	0.43		0.4	DELL
NTAP	0.05	0.4	-0.18	0.46	0.36	0.21	0.25	0.73	0.4		NTAP
	DM	DDD	VLD	MKFG	SSYS	IONQ	QBTS	PSTG	DELL	NTAP

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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

QBTS	+ 0.89	IONQ
DELL	+ 0.87	DDD
IONQ	+ 0.85	SSYS
QBTS	+ 0.81	SSYS
DELL	+ 0.8	IONQ
MKFG	+ 0.76	DDD

High negative correlations

IONQ	- 0.9	VLD
DELL	- 0.85	VLD
VLD	- 0.77	DDD
QBTS	- 0.75	VLD
SSYS	- 0.68	VLD
QBTS	- 0.53	DM

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	1.67	0.01	(0.05)	0.00	2.45	(1.73)	2.86	(4.44)	23.02
DDD	4.30	0.14	0.07	0.17	5.20	(4.98)	11.73	(8.15)	31.04
VLD	7.92	(0.38)	0.00	0.50	0.00	0.00	14.19	(12.16)	65.75
MKFG	4.07	1.11	0.27	(2.98)	2.57	(6.58)	9.64	(7.73)	78.88
SSYS	2.97	0.18	0.09	0.22	3.05	(3.37)	9.26	(4.95)	25.45
IONQ	5.81	2.50	0.49	1.20	4.08	(7.00)	16.30	(6.53)	47.83
QBTS	6.26	1.60	0.39	0.51	4.15	(8.88)	15.58	(6.93)	55.31
PSTG	2.11	(0.36)	0.00	(0.08)	0.00	0.00	3.58	(6.29)	15.80
DELL	2.24	0.01	0.04	0.13	3.08	(2.43)	4.33	(4.54)	18.64
NTAP	1.47	(0.22)	0.00	(0.09)	0.00	0.00	2.62	(3.43)	9.64

Nano Dimension Corporate Management

Zivi Nedivi	President	Profile
Tamir Margalit	Senior Development	Profile
Yoav Stern	CEO Chairman	Profile
Meg Pyers	Vice Marketing	Profile
Nir Sade	Senior AM	Profile

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