Firsthand Alternative Correlations
| ALTEX Fund | USD 8.14 0.10 1.21% |
The current 90-days correlation between Firsthand Alternative and Guinness Atkinson Alternative is 0.77 (i.e., Poor diversification). The correlation of Firsthand Alternative is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Firsthand Alternative Correlation With Market
Very weak diversification
The correlation between Firsthand Alternative Energy and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Firsthand Alternative Energy and DJI in the same portfolio, assuming nothing else is changed.
Firsthand |
Moving together with Firsthand Mutual Fund
| 0.94 | VEEA | Veea Inc Symbol Change | PairCorr |
| 0.74 | VISL | Vislink Technologies Earnings Call This Week | PairCorr |
| 0.8 | DVLT | Datavault AI Symbol Change | PairCorr |
| 0.62 | FAASW | DigiAsia Corp Symbol Change | PairCorr |
| 0.86 | YAAS | Youxin Technology | PairCorr |
| 0.83 | ZENA | ZenaTech | PairCorr |
| 0.82 | VSTEW | Vast Renewables | PairCorr |
| 0.89 | HPE-PC | Hewlett Packard Ente | PairCorr |
| 0.84 | VEEAW | Veea Inc Symbol Change | PairCorr |
| 0.93 | NOVA | Sunnova Energy Inter | PairCorr |
| 0.83 | NXXT | NextNRG Symbol Change | PairCorr |
| 0.78 | ODYS | Odysightai Common Stock Tech Boost | PairCorr |
| 0.94 | CORZZ | Core Scientific, Tranche | PairCorr |
| 0.92 | SLNHP | Soluna Holdings Preferred | PairCorr |
Moving against Firsthand Mutual Fund
| 0.75 | EMKR | EMCORE | PairCorr |
| 0.72 | HPAIW | Helport AI Limited | PairCorr |
| 0.7 | LGTY | Logility Supply Chain Symbol Change | PairCorr |
| 0.59 | INFN | Infinera | PairCorr |
| 0.55 | HCP | Hashicorp | PairCorr |
| 0.9 | MTTR | Matterport | PairCorr |
| 0.66 | NTCL | NETCLASS TECHNOLOGY INC | PairCorr |
| 0.41 | ZEOWW | Zeo Energy Corp | PairCorr |
Related Correlations Analysis
| 0.64 | 0.07 | 0.52 | 0.43 | GAAEX | ||
| 0.64 | 0.72 | -0.15 | -0.3 | CGAEX | ||
| 0.07 | 0.72 | -0.72 | -0.8 | NALFX | ||
| 0.52 | -0.15 | -0.72 | 0.88 | NEXTX | ||
| 0.43 | -0.3 | -0.8 | 0.88 | FSLEX | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Firsthand Mutual Fund performing well and Firsthand Alternative Mutual Fund 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 Firsthand Alternative'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GAAEX | 0.93 | (0.04) | 0.00 | (0.05) | 0.00 | 1.62 | 5.05 | |||
| CGAEX | 0.81 | 0.01 | 0.01 | 0.01 | 1.09 | 1.41 | 4.88 | |||
| NALFX | 0.76 | 0.09 | 0.09 | 0.21 | 0.88 | 1.54 | 3.99 | |||
| NEXTX | 0.87 | (0.08) | 0.00 | (0.10) | 0.00 | 1.55 | 5.01 | |||
| FSLEX | 1.06 | (0.16) | 0.00 | 0.67 | 0.00 | 1.86 | 6.38 |