Desktop Metal Correlations

DM Stock

USD 2.55 0.18 6.59%

The current 90-days correlation between Desktop Metal and Markforged Holding Corp is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Desktop Metal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Desktop Metal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Desktop Metal Correlation With Market

Modest diversification

The correlation between Desktop Metal and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Desktop Metal and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Desktop Metal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in Desktop Stock, please use our How to Invest in Desktop Metal guide.

Moving together with Desktop Stock

0.67	PAY	Paymentus Holdings	Pair Corr
0.67	AI	C3 Ai Inc	Pair Corr
0.76	EVCM	EverCommerce	Pair Corr

Moving against Desktop Stock

0.34	NTIP	Network 1 Technologies	Pair Corr
0.57	GB	Global Blue Group	Pair Corr
0.52	CSCO	Cisco Systems	Pair Corr
0.5	ENFN	Enfusion	Pair Corr
0.44	SAP	SAP SE ADR	Pair Corr

Related Correlations Analysis

	NNDM	DDD	VLD	MKFG	SSYS	HPQ	CAN	QBTS	RGTI	SMCI
NNDM		0.63	0.0	0.48	0.23	0.29	0.74	0.14	0.62	-0.33	NNDM
DDD	0.63		0.0	0.15	0.73	0.41	0.39	-0.16	0.35	0.17	DDD
VLD	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	VLD
MKFG	0.48	0.15	0.0		-0.36	0.46	0.8	0.19	0.54	-0.43	MKFG
SSYS	0.23	0.73	0.0	-0.36		0.1	-0.24	-0.17	-0.08	0.41	SSYS
HPQ	0.29	0.41	0.0	0.46	0.1		0.42	-0.12	0.23	0.11	HPQ
CAN	0.74	0.39	0.0	0.8	-0.24	0.42		0.09	0.64	-0.4	CAN
QBTS	0.14	-0.16	0.0	0.19	-0.17	-0.12	0.09		0.58	0.02	QBTS
RGTI	0.62	0.35	0.0	0.54	-0.08	0.23	0.64	0.58		-0.27	RGTI
SMCI	-0.33	0.17	0.0	-0.43	0.41	0.11	-0.4	0.02	-0.27		SMCI
	NNDM	DDD	VLD	MKFG	SSYS	HPQ	CAN	QBTS	RGTI	SMCI

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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

CAN	+ 0.8	MKFG
CAN	+ 0.74	NNDM
SSYS	+ 0.73	DDD
RGTI	+ 0.64	CAN
DDD	+ 0.63	NNDM
RGTI	+ 0.62	NNDM

High negative correlations

SMCI	- 0.43	MKFG
SMCI	- 0.4	CAN
SSYS	- 0.36	MKFG
SMCI	- 0.33	NNDM
SMCI	- 0.27	RGTI
CAN	- 0.24	SSYS

Risk-Adjusted Indicators

There is a big difference between Desktop Stock performing well and Desktop Metal 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 Desktop Metal'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
NNDM	2.25	(0.20)	0.00	(1.24)	0.00	0.00	4.80	(4.10)	13.98
DDD	3.68	(0.27)	0.00	(0.49)	0.00	0.00	5.95	(6.96)	35.49
VLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MKFG	2.74	(0.12)	0.00	0.28	0.00	0.00	5.05	(5.78)	26.54
SSYS	2.56	0.22	0.13	(1.15)	2.28	(3.44)	6.12	(3.36)	27.38
HPQ	1.26	(0.21)	0.00	(0.39)	0.00	0.00	1.82	(2.68)	9.02
CAN	4.80	(1.22)	0.00	6.82	0.00	0.00	7.78	(9.92)	36.67
QBTS	10.61	2.50	0.21	4.29	10.54	(12.71)	26.55	(11.59)	80.73
RGTI	11.02	1.79	0.13	1.38	13.17	(13.04)	32.03	(19.11)	81.44
SMCI	5.60	0.40	0.06	0.24	6.14	(6.92)	12.23	(11.76)	33.52

Desktop Metal Corporate Management

Prof Schuh	CoFounder	Profile
James Eisenstein	Director	Profile
A Hart	Co-Founder	Profile
Thomas Nogueira	Chief Officer	Profile
Christopher Schuh	Co-Founder	Profile
Steven Papa	Independent Director	Profile
Prof Hart	CoFounder	Profile

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