Firsthand Alternative Correlations

ALTEX Fund

USD 8.68 0.07 0.81%

The current 90-days correlation between Firsthand Alternative and Guinness Atkinson Alternative is 0.75 (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

Modest diversification

The correlation between Firsthand Alternative Energy and DJI is 0.26 (i.e., Modest 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Firsthand Alternative Energy. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Firsthand Mutual Fund

0.7	VISL	Vislink Technologies Tech Boost	Pair Corr
0.75	III	Information Services Earnings Call This Week	Pair Corr
0.61	VSTEW	Vast Renewables	Pair Corr
0.64	VEEAW	Veea Inc Symbol Change	Pair Corr
0.82	NOVA	Sunnova Energy Inter	Pair Corr

Moving against Firsthand Mutual Fund

0.77	GDS	GDS Holdings	Pair Corr
0.68	LGTY	Logility Supply Chain Symbol Change	Pair Corr
0.59	ZUO	Zuora Inc	Pair Corr
0.46	EXOD	Exodus Movement, Upward Rally	Pair Corr
0.45	WCT	Wellchange Holdings Tech Boost	Pair Corr
0.43	WRD	WeRide American Depo	Pair Corr
0.4	NVNIW	Nvni Group Limited	Pair Corr
0.36	CTM	Castellum	Pair Corr
0.36	IPM	Intelligent Protection Symbol Change	Pair Corr
0.32	ZSPC	zSpace, Common stock	Pair Corr
0.75	HPAIW	Helport AI Limited	Pair Corr
0.73	MIND	Mind Technology	Pair Corr
0.67	NYAX	Nayax	Pair Corr
0.67	ZEOWW	Zeo Energy Corp Symbol Change	Pair Corr
0.56	AIFF	Firefly Neuroscience, Symbol Change	Pair Corr
0.39	RZLVW	Rezolve AI Limited	Pair Corr
0.37	PENG	Penguin Solutions, Symbol Change	Pair Corr

Related Correlations Analysis

	GAAEX	CGAEX	NALFX	NEXTX	FSLEX
GAAEX		0.96	0.94	0.9	0.52	GAAEX
CGAEX	0.96		0.95	0.85	0.49	CGAEX
NALFX	0.94	0.95		0.79	0.3	NALFX
NEXTX	0.9	0.85	0.79		0.62	NEXTX
FSLEX	0.52	0.49	0.3	0.62		FSLEX
	GAAEX	CGAEX	NALFX	NEXTX	FSLEX

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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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GAAEX	0.80	(0.07)	(0.15)	0.00	0.00	1.37	(2.50)	4.78
CGAEX	0.71	(0.02)	(0.04)	0.00	0.00	1.34	(1.69)	4.04
NALFX	0.74	0.00	(0.01)	1.00	(0.73)	1.38	(1.78)	4.04
NEXTX	0.79	(0.05)	(0.09)	0.00	0.00	1.71	(1.57)	5.42
FSLEX	0.82	(0.05)	(0.10)	0.00	0.00	1.74	(1.67)	6.38

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