First American Correlations

FAF Stock

USD 68.15 1.06 1.58%

The current 90-days correlation between First American and Essent Group is 0.57 (i.e., Very weak 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

Good diversification

The correlation between First American and DJI is -0.05 (i.e., Good 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 against First Stock

0.39	SBRE	Sabre Insurance Group	Pair Corr
0.36	DFY	Definity Financial Corp Earnings Call This Week	Pair Corr
0.32	PIR	Peoples Insurance	Pair Corr
0.39	FCTI	Fact Inc	Pair Corr

Related Correlations Analysis

	ESNT	MTG	ACT	RLI	RDN	PIPR	THG	VLY	EQH	PFSI
ESNT		0.71	0.76	0.54	0.71	0.27	0.6	0.54	0.58	-0.14	ESNT
MTG	0.71		0.2	0.79	0.97	-0.09	0.85	-0.15	0.46	-0.09	MTG
ACT	0.76	0.2		0.15	0.25	0.42	0.22	0.85	0.26	-0.15	ACT
RLI	0.54	0.79	0.15		0.82	-0.29	0.89	-0.24	0.15	-0.21	RLI
RDN	0.71	0.97	0.25	0.82		-0.06	0.88	-0.12	0.43	-0.01	RDN
PIPR	0.27	-0.09	0.42	-0.29	-0.06		-0.29	0.61	0.52	0.53	PIPR
THG	0.6	0.85	0.22	0.89	0.88	-0.29		-0.17	0.15	-0.23	THG
VLY	0.54	-0.15	0.85	-0.24	-0.12	0.61	-0.17		0.29	-0.06	VLY
EQH	0.58	0.46	0.26	0.15	0.43	0.52	0.15	0.29		0.28	EQH
PFSI	-0.14	-0.09	-0.15	-0.21	-0.01	0.53	-0.23	-0.06	0.28		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

RDN	+ 0.97	MTG
THG	+ 0.89	RLI
THG	+ 0.88	RDN
THG	+ 0.85	MTG
VLY	+ 0.85	ACT
RDN	+ 0.82	RLI

High negative correlations

THG	- 0.29	PIPR
PIPR	- 0.29	RLI
VLY	- 0.24	RLI
PFSI	- 0.23	THG
PFSI	- 0.21	RLI
VLY	- 0.17	THG

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	1.00	0.10	0.06	0.25	1.29	(1.15)	2.00	(2.09)	8.39
MTG	1.06	(0.02)	(0.01)	0.01	2.01	(1.04)	2.19	(2.27)	12.13
ACT	1.14	0.31	0.23	0.47	1.00	(1.35)	2.19	(2.11)	8.01
RLI	1.10	0.09	0.03	(0.40)	1.35	(1.09)	2.38	(2.34)	6.59
RDN	0.95	(0.01)	(0.02)	0.01	1.69	(0.96)	2.29	(2.12)	10.62
PIPR	1.50	0.01	0.02	0.04	1.99	(1.45)	3.02	(3.13)	9.28
THG	0.84	0.06	0.02	0.73	1.22	(0.82)	1.71	(2.02)	6.34
VLY	1.20	0.32	0.19	0.34	1.16	(1.31)	3.26	(2.20)	8.87
EQH	1.30	(0.22)	0.00	(0.15)	0.00	0.00	2.61	(3.12)	7.60
PFSI	1.85	(0.31)	0.00	(0.20)	0.00	0.00	3.15	(1.78)	39.66

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