Correlation Between Nano Dimension and Castor Maritime

Can any of the company-specific risk be diversified away by investing in both Nano Dimension and Castor Maritime at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Nano Dimension and Castor Maritime into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Nano Dimension and Castor Maritime, you can compare the effects of market volatilities on Nano Dimension and Castor Maritime and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Nano Dimension with a short position of Castor Maritime. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nano Dimension and Castor Maritime.

Diversification Opportunities for Nano Dimension and Castor Maritime

-0.07

Correlation Coefficient

Nano Dimension  Castor Maritime

Good diversification

The 3 months correlation between Nano and Castor is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Nano Dimension and Castor Maritime in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Castor Maritime and Nano Dimension is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Nano Dimension are associated (or correlated) with Castor Maritime. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Castor Maritime has no effect on the direction of Nano Dimension i.e., Nano Dimension and Castor Maritime go up and down completely randomly.

Pair Corralation between Nano Dimension and Castor Maritime

Given the investment horizon of 90 days Nano Dimension is expected to generate 1.29 times more return on investment than Castor Maritime. However, Nano Dimension is 1.29 times more volatile than Castor Maritime. It trades about 0.0 of its potential returns per unit of risk. Castor Maritime is currently generating about -0.1 per unit of risk. If you would invest  225.00  in Nano Dimension on July 22, 2025 and sell it today you would lose (40.00) from holding Nano Dimension or give up 17.78% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	99.66%
Values	Daily Returns

Nano Dimension  vs.  Castor Maritime

Nano Dimension

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Nano Dimension are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of very weak fundamental indicators, Nano Dimension displayed solid returns over the last few months and may actually be approaching a breakup point.

Castor Maritime

Risk-Adjusted Performance

Weakest

Over the last 90 days Castor Maritime has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Stock's basic indicators remain healthy and the recent disarray on Wall Street may also be a sign of long period gains for the firm investors.

Pair Trading with Nano Dimension and Castor Maritime

The main advantage of trading using opposite Nano Dimension and Castor Maritime positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nano Dimension position performs unexpectedly, Castor Maritime can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Castor Maritime will offset losses from the drop in Castor Maritime's long position.

The idea behind Nano Dimension and Castor Maritime pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.