Desktop Metal Correlations
| DM Stock | USD 0.65 0.04 5.80% |
The correlation of Desktop Metal is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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 tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Desktop |
The ability to find closely correlated positions to Desktop Metal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Desktop Metal when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Desktop Metal - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Desktop Metal to buy it.
Moving together with Desktop Stock
| + | 0.83 | CTS | CTS Corporation | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.9 | RDCM | Radcom | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.66 | CLRO | ClearOne | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.86 | CSCO | Cisco Systems | Fiscal Quarter End 31st of January 2024 | PairCorr | |
| + | 0.89 | DGII | Digi International | Potential Growth | PairCorr |
Moving against Desktop Stock
| - | 0.77 | ELTK | Eltek | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.62 | JBL | Jabil Circuit | Report 21st of December 2023 | PairCorr | |
| - | 0.51 | PLXS | Plexus Corp | Fiscal Quarter End 31st of December 2023 | PairCorr |
Related Correlations Analysis
VIDE | VJET | FATH | DDD | OSS | SGE | STX | INVE | ||
VIDE | -0.65 | 0.79 | 0.56 | -0.62 | 0.5 | -0.63 | 0.84 | VIDE | |
VJET | -0.65 | -0.34 | 0.05 | 0.58 | -0.8 | 0.83 | -0.57 | VJET | |
FATH | 0.79 | -0.34 | 0.8 | -0.42 | 0.07 | -0.37 | 0.59 | FATH | |
DDD | 0.56 | 0.05 | 0.8 | -0.14 | -0.26 | 0.03 | 0.51 | DDD | |
OSS | -0.62 | 0.58 | -0.42 | -0.14 | -0.52 | 0.68 | -0.62 | OSS | |
SGE | 0.5 | -0.8 | 0.07 | -0.26 | -0.52 | -0.75 | 0.48 | SGE | |
STX | -0.63 | 0.83 | -0.37 | 0.03 | 0.68 | -0.75 | -0.61 | STX | |
INVE | 0.84 | -0.57 | 0.59 | 0.51 | -0.62 | 0.48 | -0.61 | INVE | |
VIDE | VJET | FATH | DDD | OSS | SGE | STX | INVE |
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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 | High negative correlations |
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 | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| VIDE | 0.54 | (0.17) | 0.00 | (0.94) | 0.00 | (0.14) | 0.00 | 0.98 | (4.35) | 7.70 | |
| VJET | 3.75 | 0.48 | 0.10 | 0.38 | 4.35 | 0.08 | (4.24) | 6.84 | (8.59) | 43.09 | |
| FATH | 4.92 | (0.86) | 0.00 | (5.09) | 0.00 | (0.12) | 0.00 | 10.61 | (11.19) | 42.25 | |
| DDD | 3.69 | (0.11) | 0.00 | (0.03) | 0.00 | (0.0218) | 0.00 | 8.98 | (6.36) | 19.86 | |
| OSS | 2.40 | 0.06 | 0.02 | 0.17 | 2.53 | 0.0192 | (3.00) | 5.39 | (3.74) | 21.79 | |
| SGE | 4.08 | (0.18) | 0.00 | 0.22 | 0.00 | (0.0304) | 0.00 | 9.74 | (7.46) | 38.55 | |
| STX | 1.48 | 0.29 | 0.11 | 0.37 | 2.38 | 0.13 | (1.54) | 4.11 | (2.35) | 15.04 | |
| INVE | 3.15 | (0.11) | 0.00 | (0.09) | 0.00 | (0.0262) | 0.00 | 6.99 | (6.33) | 23.27 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Desktop Metal without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Desktop Metal Corporate Directors
Desktop Metal corporate directors refer to members of a Desktop Metal board of directors. The board of directors generally takes responsibility for the Desktop Metal's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Desktop Metal's board members must vote for the resolution. The Desktop Metal board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Harris Simmons | Director of Dominion Midstream GP, LLC | Profile | |
| Eric Fredrickson | Independent Director | Profile | |
| John Luke | Independent Director of Dominion Midstream GP, LLC | Profile | |
| Richard Stone | Director | Profile |
Already Invested in Desktop Metal?
The danger of trading Desktop Metal is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Desktop Metal is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Desktop Metal. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Desktop Metal is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Desktop Metal is a strong investment it is important to analyze Desktop Metal's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Desktop Metal's future performance. For an informed investment choice regarding Desktop Stock, refer to the following important reports: 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 tightly coupled with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in Desktop Stock, please use our How to Invest in Desktop Metal guide.You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Complementary Tools for Desktop Stock analysis
When running Desktop Metal's price analysis, check to measure Desktop Metal's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Desktop Metal is operating at the current time. Most of Desktop Metal's value examination focuses on studying past and present price action to predict the probability of Desktop Metal's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Desktop Metal's price. Additionally, you may evaluate how the addition of Desktop Metal to your portfolios can decrease your overall portfolio volatility.
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Is Desktop Metal's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Desktop Metal. If investors know Desktop will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Desktop Metal listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.45) | Revenue Per Share 0.618 | Quarterly Revenue Growth (0.09) | Return On Assets (0.13) | Return On Equity (0.76) |
The market value of Desktop Metal is measured differently than its book value, which is the value of Desktop that is recorded on the company's balance sheet. Investors also form their own opinion of Desktop Metal's value that differs from its market value or its book value, called intrinsic value, which is Desktop Metal's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Desktop Metal's market value can be influenced by many factors that don't directly affect Desktop Metal's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Desktop Metal's value and its price as these two are different measures arrived at by different means. Investors typically determine if Desktop Metal is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Desktop Metal's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.