First American Correlations

FSCCX Fund

USD 36.20 0.91 2.58%

The current 90-days correlation between First American Investment and Morgan Stanley India is 0.21 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First American Correlation With Market

Almost no diversification

The correlation between First American Investment and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First American Investment and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First American Investment. 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 private.

For more information on how to buy First Mutual Fund please use our How to Invest in First American guide.

Moving together with First Mutual Fund

0.77	TEMRX	Tiaa Cref Emerging	Pair Corr
0.75	TEQLX	Tiaa Cref Emerging	Pair Corr
0.95	EMGRX	Nuveen Small Cap	Pair Corr
0.81	FREAX	Nuveen Real Estate	Pair Corr
0.81	FREGX	Nuveen Real Estate	Pair Corr
0.9	NPSFX	Nuveen Preferred Sec	Pair Corr
0.86	FRMPX	Nuveen Small Cap	Pair Corr
0.67	FAARX	Nuveen All American	Pair Corr
0.89	NQCAX	Nuveen Nwq Large	Pair Corr
0.66	FAAWX	Nuveen All American	Pair Corr
0.85	FACSX	Nuveen Mid Cap	Pair Corr
0.92	NQGCX	Nuveen Nwq Global	Pair Corr
0.73	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.76	FAFJX	Nuveen Limited Term	Pair Corr
0.84	FAMTX	Nuveen Minnesota Int	Pair Corr
0.81	FARCX	Nuveen Real Estate	Pair Corr
0.86	FASEX	Nuveen Mid Cap	Pair Corr
0.87	FSHAX	Nuveen Short Term	Pair Corr
0.93	NQWFX	Nuveen Nwq Flexible	Pair Corr
0.72	FAZTX	Nuveen Arizona Municipal	Pair Corr
0.83	NRIAX	Nuveen Real Asset	Pair Corr
0.83	NRICX	Nuveen Real Asset	Pair Corr
0.83	NRIIX	Nuveen Real Asset	Pair Corr
0.84	NSBFX	Nuveen Santa Barbara	Pair Corr
0.92	NSCFX	Nuveen Nwq Small	Pair Corr
0.89	NSCCX	Nuveen Nwq Small	Pair Corr
0.91	NSCRX	Nuveen Nwq Small	Pair Corr
0.89	TIEIX	Tiaa Cref Equity	Pair Corr
0.85	TIERX	Tiaa Cref International	Pair Corr
0.93	NSMRX	Nuveen Nwq Smallmid	Pair Corr
0.82	TIMRX	Tiaa Cref Managed	Pair Corr
0.69	FCORX	Nuveen Orado Municipal	Pair Corr
0.97	TISBX	Tiaa-cref Small-cap	Pair Corr
0.92	TIYRX	Tiaa-cref High-yield	Pair Corr

Related Correlations Analysis

	FMPFX	SAISX	NSCCX	JCE	DBL	CAF	EMF	NCA	IIF
FMPFX		0.83	0.92	0.88	0.45	0.83	0.66	0.33	-0.37	FMPFX
SAISX	0.83		0.93	0.87	0.25	0.9	0.93	0.69	-0.67	SAISX
NSCCX	0.92	0.93		0.85	0.31	0.91	0.83	0.56	-0.5	NSCCX
JCE	0.88	0.87	0.85		0.33	0.86	0.75	0.39	-0.39	JCE
DBL	0.45	0.25	0.31	0.33		0.19	0.16	0.04	-0.01	DBL
CAF	0.83	0.9	0.91	0.86	0.19		0.88	0.59	-0.49	CAF
EMF	0.66	0.93	0.83	0.75	0.16	0.88		0.85	-0.75	EMF
NCA	0.33	0.69	0.56	0.39	0.04	0.59	0.85		-0.71	NCA
IIF	-0.37	-0.67	-0.5	-0.39	-0.01	-0.49	-0.75	-0.71		IIF
	FMPFX	SAISX	NSCCX	JCE	DBL	CAF	EMF	NCA	IIF

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

NSCCX	+ 0.93	SAISX
EMF	+ 0.93	SAISX
NSCCX	+ 0.92	FMPFX
CAF	+ 0.91	NSCCX
CAF	+ 0.9	SAISX
JCE	+ 0.88	FMPFX

High negative correlations

IIF	- 0.75	EMF
IIF	- 0.71	NCA
IIF	- 0.67	SAISX
IIF	- 0.5	NSCCX
IIF	- 0.49	CAF
IIF	- 0.39	JCE

Risk-Adjusted Indicators

There is a big difference between First Mutual Fund performing well and First American 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 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
FMPFX	1.05	0.02	0.02	0.10	1.13	(1.20)	2.34	(1.78)	6.65
SAISX	0.60	0.12	0.11	0.27	0.56	(0.67)	1.44	(1.15)	3.52
NSCCX	1.10	0.25	0.23	0.29	0.75	(1.30)	2.64	(1.78)	14.57
JCE	0.62	(0.03)	(0.07)	0.03	0.76	(0.62)	1.28	(1.19)	3.55
DBL	0.31	0.00	(0.20)	0.06	0.30	(0.37)	0.60	(0.52)	2.05
CAF	0.91	0.09	0.04	0.37	0.90	(1.09)	2.28	(1.77)	6.75
EMF	0.93	0.21	0.16	0.50	0.72	(1.06)	2.05	(1.60)	5.66
NCA	0.51	0.11	0.03	(0.54)	0.48	(0.63)	1.19	(0.79)	5.74
IIF	0.57	(0.09)	0.00	(0.16)	0.00	0.00	0.93	(0.96)	4.47

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