Correlation Between Cleartrack 2015 and Firsthand Technology

Can any of the company-specific risk be diversified away by investing in both Cleartrack 2015 and Firsthand Technology 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 Cleartrack 2015 and Firsthand Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Cleartrack 2015 Class and Firsthand Technology Opportunities, you can compare the effects of market volatilities on Cleartrack 2015 and Firsthand Technology 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 Cleartrack 2015 with a short position of Firsthand Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cleartrack 2015 and Firsthand Technology.

Diversification Opportunities for Cleartrack 2015 and Firsthand Technology

-0.25

Correlation Coefficient

Cleartrack 2015  Firsthand Technology

Very good diversification

The 3 months correlation between Cleartrack and Firsthand is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Cleartrack 2015 Class and Firsthand Technology Opportuni in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Firsthand Technology and Cleartrack 2015 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 Cleartrack 2015 Class are associated (or correlated) with Firsthand Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Firsthand Technology has no effect on the direction of Cleartrack 2015 i.e., Cleartrack 2015 and Firsthand Technology go up and down completely randomly.

Pair Corralation between Cleartrack 2015 and Firsthand Technology

If you would invest  472.00  in Firsthand Technology Opportunities on July 2, 2025 and sell it today you would earn a total of  55.00  from holding Firsthand Technology Opportunities or generate 11.65% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	1.61%
Values	Daily Returns

Cleartrack 2015 Class  vs.  Firsthand Technology Opportuni

Cleartrack 2015 Class

Risk-Adjusted Performance

Weakest

Over the last 90 days Cleartrack 2015 Class has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Cleartrack 2015 is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Firsthand Technology

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Firsthand Technology Opportunities are ranked lower than 9 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Firsthand Technology may actually be approaching a critical reversion point that can send shares even higher in October 2025.

Pair Trading with Cleartrack 2015 and Firsthand Technology

The main advantage of trading using opposite Cleartrack 2015 and Firsthand Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cleartrack 2015 position performs unexpectedly, Firsthand Technology 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 Technology will offset losses from the drop in Firsthand Technology's long position.

The idea behind Cleartrack 2015 Class and Firsthand Technology Opportunities 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.