Can convert androstan-3-alpha,17-beta-diol (3-alpha-diol) to androsterone in vitro, suggesting that it may participate in androgen metabolism during steroidogenesis. May act by metabolizing compounds that stimulate steroid synthesis and/or by generating metabolites that inhibit it. Has no activity toward DHEA (dehydroepiandrosterone), or A-dione (4-androste-3,17-dione), and only a slight activity toward testosterone to A-dione. 17beta-estradiol + NAD(+) = estrone + H(+) + NADH 17beta-estradiol + NADP(+) = estrone + H(+) + NADPH Redistributed from the endoplasmic reticulum to lipids droplets in the cell upon induction of lipids droplet formation. Belongs to the short-chain dehydrogenases/reductases (SDR) family. 17-beta-HSD 3 subfamily.