It's been 25 years since I bought a hydrometer for nitro, I dunno the current prices, but if the wouldn't gouge you, the price should be what an antifreeze or battery tester runs. Though you f I get the fancy flask and padded box, which actually helps.
Alcohol is a totally different based (non-petrolium) fuel that burns almost colorless, it tends not to flash, burns a bit cooler in the open, and is somewhat compressible compared to gas and nitro. In order to get the increased potential energy out of it, you need to put more compression and fuel into it. Check out rubbing Alcohol and compare it with gasoline. If you light a small 2" puddle of each on the ground apart. Their different behavior should be apparent.