Firsthand Technology Correlations

SVVC Fund

USD 0.02 0.01 21.67%

The current 90-days correlation between Firsthand Technology and John Hancock Premium is -0.02 (i.e., Good diversification). The correlation of Firsthand Technology 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.

Firsthand Technology Correlation With Market

Average diversification

The correlation between Firsthand Technology Value and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Firsthand Technology Value and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Firsthand Technology Value. Also, note that the market value of any otc fund could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Firsthand OTC Fund

0.71

RCS

Pimco Strategic Income

Pair Corr

Moving against Firsthand OTC Fund

0.72	AA	Alcoa Corp	Pair Corr
0.64	BAC	Bank of America	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.57	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.56	AXP	American Express	Pair Corr
0.5	JNJ	Johnson Johnson	Pair Corr
0.49	CSCO	Cisco Systems	Pair Corr
0.47	TRV	The Travelers Companies	Pair Corr
0.44	CHY	Calamos Convertible And	Pair Corr
0.39	PHK	Pimco High Income	Pair Corr
0.36	NUV	Nuveen Municipal Value	Pair Corr
0.36	IBM	International Business	Pair Corr

Related Correlations Analysis

	PDT	PCN	PHK	BTO	NRK	EOI	AIO	CHI	CII	CHY
PDT		0.64	-0.26	-0.25	-0.11	0.51	0.53	0.22	-0.6	-0.34	PDT
PCN	0.64		0.16	0.25	-0.41	0.74	0.6	0.39	-0.38	-0.03	PCN
PHK	-0.26	0.16		0.81	-0.1	0.01	-0.1	-0.15	0.65	0.36	PHK
BTO	-0.25	0.25	0.81		-0.3	0.16	-0.05	-0.02	0.48	0.41	BTO
NRK	-0.11	-0.41	-0.1	-0.3		-0.25	-0.14	-0.19	0.27	0.11	NRK
EOI	0.51	0.74	0.01	0.16	-0.25		0.65	0.47	-0.28	0.18	EOI
AIO	0.53	0.6	-0.1	-0.05	-0.14	0.65		0.86	-0.23	0.42	AIO
CHI	0.22	0.39	-0.15	-0.02	-0.19	0.47	0.86		-0.03	0.64	CHI
CII	-0.6	-0.38	0.65	0.48	0.27	-0.28	-0.23	-0.03		0.66	CII
CHY	-0.34	-0.03	0.36	0.41	0.11	0.18	0.42	0.64	0.66		CHY
	PDT	PCN	PHK	BTO	NRK	EOI	AIO	CHI	CII	CHY

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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

CHI	+ 0.86	AIO
BTO	+ 0.81	PHK
EOI	+ 0.74	PCN
CHY	+ 0.66	CII
CII	+ 0.65	PHK
AIO	+ 0.65	EOI

High negative correlations

CII	- 0.6	PDT
NRK	- 0.41	PCN
CII	- 0.38	PCN
CHY	- 0.34	PDT
NRK	- 0.3	BTO
CII	- 0.28	EOI

Risk-Adjusted Indicators

There is a big difference between Firsthand OTC Fund performing well and Firsthand Technology OTC 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 Technology'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
PDT	0.46	(0.06)	0.00	(0.52)	0.00	0.00	0.78	(0.94)	2.58
PCN	0.49	(0.05)	0.00	(0.10)	0.00	0.00	1.02	(1.18)	4.52
PHK	0.30	0.00	(0.10)	0.07	0.42	(0.39)	0.64	(0.83)	2.33
BTO	0.96	(0.04)	(0.02)	0.04	1.53	(0.91)	1.91	(2.10)	7.11
NRK	0.27	(0.01)	(0.19)	0.03	0.27	(0.39)	0.60	(0.59)	2.09
EOI	0.60	(0.01)	0.00	(0.61)	0.00	0.00	1.10	(1.31)	3.41
AIO	0.94	(0.12)	0.00	(0.04)	0.00	0.00	2.00	(1.71)	5.32
CHI	0.92	(0.02)	(0.02)	0.05	1.12	(0.97)	1.91	(1.83)	5.00
CII	0.86	0.11	0.07	0.25	0.95	(0.88)	1.91	(1.55)	5.34
CHY	0.73	0.01	0.00	0.09	0.83	(0.82)	1.58	(1.62)	4.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in Firsthand Technology without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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