First American Correlations

FAF Stock

USD 61.91 0.18 0.29%

The current 90-days correlation between First American and Essent Group is 0.63 (i.e., Poor diversification). The correlation of First American 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.

First American Correlation With Market

Weak diversification

The correlation between First American and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First American and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First American. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more detail on how to invest in First Stock please use our How to Invest in First American guide.

Moving together with First Stock

0.65	ACT	Enact Holdings	Pair Corr
0.65	AGO	Assured Guaranty	Pair Corr
0.78	FNF	Fidelity National	Pair Corr
0.69	MBI	MBIA Inc	Pair Corr
0.84	STC	Stewart Information	Pair Corr

Moving against First Stock

0.65	KFS	Kingsway Financial	Pair Corr
0.45	AII	American Integrity	Pair Corr
0.43	HCI	HCI Group	Pair Corr
0.35	ERIE	Erie Indemnity	Pair Corr
0.5	ADM	Admiral Group PLC	Pair Corr
0.39	GBLI	Global Indemnity Group, Normal Trading	Pair Corr
0.37	GOCO	GoHealth	Pair Corr
0.61	BEZ	Beazley plc	Pair Corr
0.6	KNSL	Kinsale Capital Group	Pair Corr
0.55	QBE	QBE Insurance Group	Pair Corr
0.36	HSX	Hiscox	Pair Corr

Related Correlations Analysis

	ESNT	MTG	ACT	RLI	RDN	PIPR	THG	VLY	EQH	PFSI
ESNT		0.94	0.94	0.65	0.93	0.53	0.65	0.77	0.21	0.65	ESNT
MTG	0.94		0.95	0.62	0.92	0.4	0.73	0.77	-0.04	0.68	MTG
ACT	0.94	0.95		0.7	0.94	0.44	0.77	0.77	0.01	0.69	ACT
RLI	0.65	0.62	0.7		0.73	0.41	0.8	0.45	0.25	0.14	RLI
RDN	0.93	0.92	0.94	0.73		0.46	0.77	0.68	0.19	0.58	RDN
PIPR	0.53	0.4	0.44	0.41	0.46		0.27	0.54	0.57	0.28	PIPR
THG	0.65	0.73	0.77	0.8	0.77	0.27		0.62	-0.04	0.42	THG
VLY	0.77	0.77	0.77	0.45	0.68	0.54	0.62		0.01	0.74	VLY
EQH	0.21	-0.04	0.01	0.25	0.19	0.57	-0.04	0.01		-0.25	EQH
PFSI	0.65	0.68	0.69	0.14	0.58	0.28	0.42	0.74	-0.25		PFSI
	ESNT	MTG	ACT	RLI	RDN	PIPR	THG	VLY	EQH	PFSI

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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

ACT	+ 0.95	MTG
MTG	+ 0.94	ESNT
ACT	+ 0.94	ESNT
RDN	+ 0.94	ACT
RDN	+ 0.93	ESNT
RDN	+ 0.92	MTG

High negative correlations

PFSI	- 0.25	EQH
EQH	- 0.04	THG
EQH	- 0.04	MTG

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First American Company 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 First American'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
ESNT	0.82	0.01	(0.03)	0.10	0.93	(0.92)	1.65	(1.61)	4.76
MTG	0.85	0.04	0.00	0.17	0.90	(0.99)	1.56	(1.40)	6.47
ACT	0.98	0.03	(0.01)	0.13	1.12	(1.04)	1.75	(2.05)	4.49
RLI	1.08	(0.01)	(0.04)	0.01	1.82	(0.92)	2.38	(3.01)	6.60
RDN	0.88	(0.03)	(0.06)	0.02	1.04	(1.02)	1.84	(1.78)	5.62
PIPR	1.48	(0.03)	(0.03)	0.01	2.29	(1.30)	2.71	(3.13)	10.17
THG	0.86	0.05	0.01	0.18	1.22	(0.85)	1.98	(2.38)	5.19
VLY	1.26	0.15	0.05	0.47	2.02	(1.19)	3.28	(2.90)	9.79
EQH	1.35	(0.14)	0.00	(0.22)	0.00	0.00	2.57	(2.96)	9.66
PFSI	1.28	0.06	0.04	0.14	1.27	(1.59)	2.44	(2.13)	10.30

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