Firsthand Alternative Correlations

ALTEX Fund

USD 12.42 0.05 0.40%

The current 90-days correlation between Firsthand Alternative and Rock Oak E is 0.29 (i.e., Modest 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

Almost no diversification

The correlation between Firsthand Alternative Energy and DJI is 0.91 (i.e., Almost no 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 discontinued.

Moving together with Firsthand Mutual Fund

0.92	FAIRX	The Fairholme Steady Growth	Pair Corr
0.87	GCEBX	Goldman Sachs Clean	Pair Corr
0.62	SMPSX	Semiconductor Ultrasector Potential Growth	Pair Corr
0.62	PMPIX	Precious Metals Ultr	Pair Corr
0.92	PMPSX	Precious Metals Ultr	Pair Corr
0.92	UJPIX	Ultrajapan Profund	Pair Corr
0.94	FGPMX	Franklin Gold And	Pair Corr
0.94	FGADX	Franklin Gold Precious	Pair Corr
0.94	FRGOX	Franklin Gold Precious	Pair Corr
0.93	EKWAX	Wells Fargo Advantage	Pair Corr
0.84	FRINX	Fidelity Real Estate	Pair Corr
0.93	RWBEX	Capital World Growth	Pair Corr
0.95	NFFFX	New World Fund	Pair Corr
0.88	VSQSX	Invesco Global Respons	Pair Corr
0.96	SSCDX	Sit Small Cap	Pair Corr
0.93	ISKIX	Voya Index Solution	Pair Corr
0.92	FEMKX	Fidelity Emerging Markets	Pair Corr
0.94	FTGMX	Salient Tactical Growth	Pair Corr
0.66	FREEX	Franklin Real Estate	Pair Corr
0.95	ALFRX	Lord Abbett Alpha	Pair Corr
0.95	OBIOX	Oberweis International	Pair Corr
0.73	VFINX	Vanguard 500 Index	Pair Corr
0.94	FIHFX	Fidelity Freedom Index	Pair Corr
0.9	PSRCX	Pioneer Strategic Income	Pair Corr
0.94	SRMAX	Deutsche Short Term	Pair Corr
0.75	HMSFX	Hennessy Bp Midstream	Pair Corr

Related Correlations Analysis

	FIRQX	CNJFX	QSML	FSYJX	FIRVX	FFIDX	FIRSX	CAFRX	FVALX	RCKSX
FIRQX		0.94	0.77	0.96	1.0	0.53	1.0	0.95	0.79	0.96	FIRQX
CNJFX	0.94		0.65	0.9	0.92	0.29	0.93	0.85	0.86	0.88	CNJFX
QSML	0.77	0.65		0.65	0.8	0.78	0.78	0.77	0.32	0.76	QSML
FSYJX	0.96	0.9	0.65		0.96	0.41	0.96	0.95	0.82	0.95	FSYJX
FIRVX	1.0	0.92	0.8	0.96		0.57	1.0	0.95	0.76	0.96	FIRVX
FFIDX	0.53	0.29	0.78	0.41	0.57		0.55	0.54	-0.01	0.48	FFIDX
FIRSX	1.0	0.93	0.78	0.96	1.0	0.55		0.95	0.77	0.96	FIRSX
CAFRX	0.95	0.85	0.77	0.95	0.95	0.54	0.95		0.72	0.94	CAFRX
FVALX	0.79	0.86	0.32	0.82	0.76	-0.01	0.77	0.72		0.78	FVALX
RCKSX	0.96	0.88	0.76	0.95	0.96	0.48	0.96	0.94	0.78		RCKSX
	FIRQX	CNJFX	QSML	FSYJX	FIRVX	FFIDX	FIRSX	CAFRX	FVALX	RCKSX

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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

FIRVX	+ 1.0	FIRQX
FIRSX	+ 1.0	FIRQX
FIRSX	+ 1.0	FIRVX
FSYJX	+ 0.96	FIRQX
RCKSX	+ 0.96	FIRQX
FIRVX	+ 0.96	FSYJX

High negative correlations

FVALX

- 0.01

FFIDX

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
FIRQX	0.15	0.02	(0.14)	0.60	0.00	(0.18)	0.35	(0.30)	0.85
CNJFX	0.87	0.20	0.16	1.74	0.71	(1.12)	2.25	(1.54)	5.40
QSML	0.85	0.07	0.03	0.73	0.84	(1.05)	2.04	(1.69)	4.97
FSYJX	0.72	0.19	0.18	2.42	0.57	(0.86)	1.61	(1.16)	4.44
FIRVX	0.22	0.03	(0.06)	0.92	0.16	(0.25)	0.49	(0.46)	1.20
FFIDX	0.54	(0.02)	0.00	1.62	0.00	0.00	1.09	(1.36)	3.22
FIRSX	0.18	0.03	(0.09)	0.71	0.07	(0.21)	0.42	(0.37)	1.01
CAFRX	0.77	0.25	0.13	(0.90)	1.05	(0.85)	1.97	(1.12)	7.38
FVALX	0.31	0.07	0.03	6.94	0.22	(0.41)	0.84	(0.50)	2.08
RCKSX	0.63	0.10	0.07	(12.52)	0.59	(0.71)	1.35	(0.97)	3.84

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