Macroaxis considers Nano Dimension to be not too risky. Nano Dimension
has Sharpe Ratio of -0.1599 which conveys that Nano Dimension
had -0.1599% of return per unit of risk over the last 1 month. Macroaxis philosophy towards estimating risk of any stock is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. Nano Dimension exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to verify Nano Dimension Ltd Mean Deviation
of 1.23 and Risk Adjusted Performance
of 0.27 to check out risk estimate we provide. Macroaxis gives Nano Dimension performance score of 0 on a scale of 0 to 100. The company secures Beta (Market Risk) of 0.682 which conveys that as returns on market increase, Nano Dimension returns are expected to increase less than the market. However during bear market, the loss on holding Nano Dimension will be expected to be smaller as well.. Even though it is essential to pay attention to Nano Dimension price patterns, it is always good to be careful when utilizing equity historical price patterns. Macroaxis philosophy towards estimating future performance of any stock is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Nano Dimension exposes twenty-one different technical indicators which can help you to evaluate its performance. Nano Dimension has expected return of -0.3468%. Please be advised to verify Nano Dimension Ltd Jensen Alpha, Maximum Drawdown and the relationship between Information Ratio and Treynor Ratio to decide if Nano Dimension past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.32) |
Poor reverse predictability
Nano Dimension Ltd has poor reverse predictability. Overlapping area represents the amount of predictability between Nano Dimension time series from September 23, 2018 to October 8, 2018 and October 8, 2018 to October 23, 2018. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Nano Dimension price movement. The serial correlation of -0.32 indicates that nearly 32.0% of current Nano Dimension price fluctuation can be explain by its past prices. Given that Nano Dimension Ltd has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Nano Dimension for similar time interval.
|Spearman Rank Test||-0.22|