First American Correlations

FSCCX Fund  USD 35.85  0.08  0.22%   
The current 90-days correlation between First American Investment and Nuveen Mid Cap is 0.94 (i.e., Almost no 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

Very poor diversification

The correlation between First American Investment and DJI is 0.86 (i.e., Very poor 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 main economic indicators.
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

  0.98EMGRX Nuveen Small CapPairCorr
  0.96FRMPX Nuveen Small CapPairCorr
  0.96FRSLX Nuveen Mid CapPairCorr
  0.93NQCCX Nuveen Nwq LargePairCorr
  0.93NQCAX Nuveen Nwq LargePairCorr
  0.95FACSX Nuveen Mid CapPairCorr
  0.93NQCRX Nuveen Nwq LargePairCorr
  1.0FSCVX Nuveen Small CapPairCorr
  1.0FSCWX Nuveen Small CapPairCorr
  1.0FSCAX Nuveen Small CapPairCorr
  0.95FSEIX Nuveen Mid CapPairCorr
  0.91FAQIX Nuveen Dividend ValuePairCorr
  0.95FASEX Nuveen Mid CapPairCorr

Moving against First Mutual Fund

  0.69FALTX Nuveen Short TermPairCorr
  0.53FAFJX Nuveen Limited TermPairCorr
  0.51FAFMX Nuveen Ohio MunicipalPairCorr
  0.48FAFLX Nuveen Louisiana MunPairCorr
  0.45FAFOX Nuveen Kansas MunicipalPairCorr
  0.4FRKSX Nuveen Kansas MunicipalPairCorr
  0.36FACCX Nuveen All AmericanPairCorr
  0.31FAAWX Nuveen All AmericanPairCorr
  0.54NAIGX Nuveen Nwq InternationalPairCorr
  0.45FTLAX Nuveen Louisiana MunPairCorr
  0.44FTLRX Nuveen Louisiana MunPairCorr
  0.42FSFRX Nuveen Strategic IncomePairCorr
  0.4NAFOX Nuveen Oregon IntermPairCorr
  0.31NRICX Nuveen Real AssetPairCorr

Related Correlations Analysis

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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   
ARSTXFISGX
FIMPXARSTX
ARSTXFSEIX
FIMPXFISGX
FISGXFSEIX
FIMPXFSEIX
  
High negative correlations   
GICIXFISGX
GICIXARSTX
GICIXFIMPX
GICIXFSEIX

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.