Firsthand Alternative Energy Fund Market Value
| ALTEX Fund | USD 10.16 0.16 1.60% |
| Symbol | Firsthand |
Firsthand Alternative 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Firsthand Alternative's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Firsthand Alternative.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Firsthand Alternative on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Firsthand Alternative Energy or generate 0.0% return on investment in Firsthand Alternative over 720 days. Firsthand Alternative is related to or competes with Guinness Atkinson, Calvert Global, New Alternatives, Shelton Green, and Environment. The fund normally invests at least 80 percent of its assets in alternative energy and alternative energy technology comp... More
Firsthand Alternative Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Firsthand Alternative's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Firsthand Alternative Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 9.14 | |||
| Value At Risk | (2.74) | |||
| Potential Upside | 2.83 |
Firsthand Alternative Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Firsthand Alternative's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Firsthand Alternative's standard deviation. In reality, there are many statistical measures that can use Firsthand Alternative historical prices to predict the future Firsthand Alternative's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.33) | |||
| Treynor Ratio | (0.05) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Firsthand Alternative's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Firsthand Alternative Backtested Returns
Firsthand Alternative secures Sharpe Ratio (or Efficiency) of -0.0168, which denotes the fund had a -0.0168% return per unit of risk over the last 3 months. Firsthand Alternative Energy exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Firsthand Alternative's Variance of 3.02, mean deviation of 1.35, and Standard Deviation of 1.74 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 1.14, which means a somewhat significant risk relative to the market. Firsthand Alternative returns are very sensitive to returns on the market. As the market goes up or down, Firsthand Alternative is expected to follow.
Auto-correlation | -0.2 |
Insignificant reverse predictability
Firsthand Alternative Energy has insignificant reverse predictability. Overlapping area represents the amount of predictability between Firsthand Alternative time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Firsthand Alternative price movement. The serial correlation of -0.2 indicates that over 20.0% of current Firsthand Alternative price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.2 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 0.38 |
Firsthand Alternative lagged returns against current returns
Autocorrelation, which is Firsthand Alternative mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Firsthand Alternative's mutual fund expected returns. We can calculate the autocorrelation of Firsthand Alternative returns to help us make a trade decision. For example, suppose you find that Firsthand Alternative has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Firsthand Alternative regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Firsthand Alternative mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Firsthand Alternative mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Firsthand Alternative mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Firsthand Alternative Lagged Returns
When evaluating Firsthand Alternative's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Firsthand Alternative mutual fund have on its future price. Firsthand Alternative autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Firsthand Alternative autocorrelation shows the relationship between Firsthand Alternative mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Firsthand Alternative Energy.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Firsthand Mutual Fund
Firsthand Alternative financial ratios help investors to determine whether Firsthand Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Firsthand with respect to the benefits of owning Firsthand Alternative security.
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