Firsthand Alternative Correlations

Mutual Funds . USA . 
Fund . Firsthand Alternative Energy
ALTEX Fund  USD 10.11  0.08  0.80%   
The current 90-days correlation between Firsthand Alternative and Guinness Atkinson Alternative is -0.21 (i.e., Very good 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

Poor diversification

The correlation between Firsthand Alternative Energy and DJI is 0.63 (i.e., Poor 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

  0.7VVPR VivoPower International Upward RallyPairCorr
  0.95DBD Diebold Nixdorf,PairCorr
  0.65OUSTZ Ouster, WarrantsPairCorr
  0.77CYCUW Cycurion, Warrant Symbol ChangePairCorr
  0.79BULLW Webull WarrantsPairCorr
  0.67JNPR Juniper NetworksPairCorr
  0.7MIND Mind TechnologyPairCorr
  0.92HPE-PC Hewlett Packard EntePairCorr
  0.89CORZZ Core Scientific, TranchePairCorr
  0.72RZLVW Rezolve AI LimitedPairCorr
  0.85SATX SatixFy CommunicationsPairCorr
  0.92STRF MicroStrategy IncorporatedPairCorr
  0.96TEFQX Firsthand TechnologyPairCorr
  0.99VITAX Vanguard InformationPairCorr

Moving against Firsthand Mutual Fund

  0.86NOVA Sunnova Energy InterPairCorr
  0.84HPAIW Helport AI LimitedPairCorr
  0.83VSTE Vast RenewablesPairCorr
  0.78VISL Vislink TechnologiesPairCorr
  0.65EXOD Exodus Movement, Downward RallyPairCorr
  0.64APCXW AppTech Payments CorpPairCorr
  0.4VBIX Viewbix Common StockPairCorr
  0.32BULLZ Webull IncentivePairCorr
  0.91SMTK SmartKem, Common StockPairCorr
  0.73APCX Apptech CorpPairCorr
  0.58ODYS Odysightai Common StockPairCorr
  0.58SLNHP Soluna Holdings Preferred Upward RallyPairCorr

Related Correlations Analysis

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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.

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