Firsthand Technology Correlations

Mutual Funds . USA . 
Fund . Firsthand Technology Opportunities
TEFQX Fund  USD 5.08  0.05  0.99%   
The current 90-days correlation between Firsthand Technology and Berkshire Focus is 0.84 (i.e., Very poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Firsthand Technology Correlation With Market

Poor diversification

The correlation between Firsthand Technology Opportuni and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Firsthand Technology Opportuni 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 Opportunities. 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 producer price index.

Moving together with Firsthand Mutual Fund

  0.72VVPR VivoPower International Tech BoostPairCorr
  0.94DBD Diebold Nixdorf,PairCorr
  0.66GENVR Gen Digital ContingentPairCorr
  0.61CYCUW Cycurion, Warrant Symbol ChangePairCorr
  0.77BULLW Webull Warrants TrendingPairCorr
  0.71MIND Mind TechnologyPairCorr
  0.92HPE-PC Hewlett Packard EntePairCorr
  0.88CORZZ Core Scientific, TranchePairCorr
  0.74RZLVW Rezolve AI LimitedPairCorr
  0.83SATX SatixFy CommunicationsPairCorr
  0.9STRF MicroStrategy IncorporatedPairCorr
  0.98ALTEX Firsthand Alternative Steady GrowthPairCorr
  0.99VITAX Vanguard InformationPairCorr

Moving against Firsthand Mutual Fund

  0.86HPAIW Helport AI LimitedPairCorr
  0.86NOVA Sunnova Energy InterPairCorr
  0.84VSTE Vast RenewablesPairCorr
  0.78VISL Vislink TechnologiesPairCorr
  0.63APCXW AppTech Payments CorpPairCorr
  0.55EXOD Exodus Movement, Tech BoostPairCorr
  0.34DVLT Datavault AI Symbol ChangePairCorr
  0.89SMTK SmartKem, Common StockPairCorr
  0.71APCX Apptech CorpPairCorr
  0.51ODYS Odysightai Common StockPairCorr
  0.49XDSMX Dreyfus StrategicPairCorr
  0.41SLNHP Soluna Holdings PreferredPairCorr
  0.39AXIL AXIL Brands, TrendingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Firsthand Mutual Fund performing well and Firsthand Technology 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 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.

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