Firsthand Technology Correlations

SVVC Fund

USD 0.02 0.00 0.00%

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

Pay attention - limited upside

The correlation between Firsthand Technology Value and DJI is -0.72 (i.e., Pay attention - limited upside) 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 manufacturing.

Moving against Firsthand OTC Fund

0.83	DFIEX	International E Equity	Pair Corr
0.82	CVSIX	Calamos Market Neutral	Pair Corr
0.82	CWGCX	Capital World Growth	Pair Corr
0.82	FRASX	Fidelity Income Repl	Pair Corr
0.81	JSNIX	Jhancock Short Duration	Pair Corr
0.81	FSTAX	Fidelity Advisor Str	Pair Corr
0.81	FHIFX	Fidelity Focused High	Pair Corr
0.79	RSLBX	Smallcap World	Pair Corr
0.78	UTF	Cohen And Steers	Pair Corr
0.78	RYOFX	Royce Opportunity	Pair Corr
0.77	TACLX	Touchstone Large Cap	Pair Corr
0.76	JSHNX	Janus Short Term	Pair Corr
0.76	MRCEX	Meridian Equity Income	Pair Corr
0.76	DNVYX	Davis New York	Pair Corr
0.75	NEA	Nuveen Amt Free	Pair Corr
0.75	VVOIX	Invesco Value Opport	Pair Corr
0.74	PRIVX	Sharespost 100	Pair Corr
0.73	ITCAX	Western Asset Interm	Pair Corr
0.71	NVG	Nuveen Amt Free	Pair Corr
0.7	TMAAX	Thrivent Moderately	Pair Corr
0.66	RMQAX	Monthly Rebalance	Pair Corr
0.65	FOBPX	Balanced Fund Instit	Pair Corr
0.6	NAD	Nuveen Dividend Advantage	Pair Corr
0.58	NAC	Nuveen California	Pair Corr
0.55	GFVSX	Goldman Sachs Focused	Pair Corr
0.52	DNP	Dnp Select Income	Pair Corr
0.49	CSQ	Calamos Strategic Total	Pair Corr
0.35	NZF	Nuveen Municipal Credit	Pair Corr
0.84	TRIGX	T Rowe Price	Pair Corr
0.83	VTIAX	Vanguard Total Inter	Pair Corr
0.82	TFBAX	American Beacon Twen	Pair Corr
0.82	FAKTX	American Funds 2015	Pair Corr
0.81	MXAPX	Great West Aggressive	Pair Corr
0.81	ASTLX	Astor Long/short	Pair Corr
0.8	GLNJX	Mfs Global New	Pair Corr
0.8	MQLKX	Mfs Limited Maturity	Pair Corr
0.8	USSBX	Short Term Bond	Pair Corr
0.79	ANFVX	Allianzgi Nfj Small	Pair Corr

Related Correlations Analysis

	ICMB	AEF	AHFCF	BLRZF	STRS	OFS	RAND	SSBI
ICMB		0.61	0.0	0.02	0.63	-0.59	-0.23	0.57	ICMB
AEF	0.61		0.0	0.13	0.89	-0.43	-0.73	0.96	AEF
AHFCF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AHFCF
BLRZF	0.02	0.13	0.0		0.09	0.0	-0.05	0.13	BLRZF
STRS	0.63	0.89	0.0	0.09		-0.44	-0.6	0.91	STRS
OFS	-0.59	-0.43	0.0	0.0	-0.44		0.44	-0.37	OFS
RAND	-0.23	-0.73	0.0	-0.05	-0.6	0.44		-0.69	RAND
SSBI	0.57	0.96	0.0	0.13	0.91	-0.37	-0.69		SSBI
	ICMB	AEF	AHFCF	BLRZF	STRS	OFS	RAND	SSBI

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

SSBI	+ 0.96	AEF
SSBI	+ 0.91	STRS
STRS	+ 0.89	AEF
STRS	+ 0.63	ICMB
AEF	+ 0.61	ICMB
SSBI	+ 0.57	ICMB

High negative correlations

RAND	- 0.73	AEF
SSBI	- 0.69	RAND
RAND	- 0.6	STRS
OFS	- 0.59	ICMB
OFS	- 0.44	STRS
OFS	- 0.43	AEF

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
ICMB	1.41	0.20	0.10	0.54	1.46	(1.74)	3.00	(2.44)	10.78
AEF	0.84	0.30	0.29	0.75	0.52	(1.01)	2.13	(1.50)	4.26
AHFCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BLRZF	26.90	11.65	0.00	1.07	0.00	0.00	0.00	0.00	900.00
STRS	2.32	0.61	0.32	0.57	1.54	(3.08)	5.97	(3.47)	17.98
OFS	2.14	(0.23)	0.00	(9.06)	0.00	0.00	4.51	(4.62)	17.27
RAND	2.39	(0.18)	0.00	0.27	0.00	0.00	5.63	(8.40)	20.24
SSBI	1.10	0.40	0.19	(1.17)	1.06	(1.18)	3.62	(1.98)	7.82

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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