Correlation Between AppTech Payments and Firsthand Alternative

Can any of the company-specific risk be diversified away by investing in both AppTech Payments and Firsthand Alternative 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 AppTech Payments and Firsthand Alternative into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between AppTech Payments Corp and Firsthand Alternative Energy, you can compare the effects of market volatilities on AppTech Payments and Firsthand Alternative 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 AppTech Payments with a short position of Firsthand Alternative. Check out your portfolio center. Please also check ongoing floating volatility patterns of AppTech Payments and Firsthand Alternative.

Diversification Opportunities for AppTech Payments and Firsthand Alternative

-0.71

Correlation Coefficient

AppTech Payments  Firsthand Alternative

Pay attention - limited upside

The 3 months correlation between AppTech and Firsthand is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding AppTech Payments Corp and Firsthand Alternative Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Firsthand Alternative and AppTech Payments 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 AppTech Payments Corp are associated (or correlated) with Firsthand Alternative. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Firsthand Alternative has no effect on the direction of AppTech Payments i.e., AppTech Payments and Firsthand Alternative go up and down completely randomly.

Pair Corralation between AppTech Payments and Firsthand Alternative

Assuming the 90 days horizon AppTech Payments Corp is expected to under-perform the Firsthand Alternative. In addition to that, AppTech Payments is 11.07 times more volatile than Firsthand Alternative Energy. It trades about -0.12 of its total potential returns per unit of risk. Firsthand Alternative Energy is currently generating about 0.36 per unit of volatility. If you would invest  797.00  in Firsthand Alternative Energy on May 1, 2025 and sell it today you would earn a total of  284.00  from holding Firsthand Alternative Energy or generate 35.63% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	24.19%
Values	Daily Returns

AppTech Payments Corp  vs.  Firsthand Alternative Energy

AppTech Payments Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days AppTech Payments Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in August 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Firsthand Alternative

Risk-Adjusted Performance

Strong

Compared to the overall equity markets, risk-adjusted returns on investments in Firsthand Alternative Energy are ranked lower than 27 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak technical and fundamental indicators, Firsthand Alternative showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with AppTech Payments and Firsthand Alternative

The main advantage of trading using opposite AppTech Payments and Firsthand Alternative positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AppTech Payments position performs unexpectedly, Firsthand Alternative 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 Firsthand Alternative will offset losses from the drop in Firsthand Alternative's long position.

The idea behind AppTech Payments Corp and Firsthand Alternative Energy 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.