First American Correlations

Mutual Funds . USA . 
Fund . First American Investment
FSCCX Fund  USD 32.49  0.21  0.64%   
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 0.82 (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

  0.97EMGRX Nuveen Small CapPairCorr
  0.65FREAX Nuveen Real EstatePairCorr
  0.69FREGX Nuveen Real EstatePairCorr
  0.93NPSAX Nuveen Preferred SecPairCorr
  0.94NPSFX Nuveen Preferred SecPairCorr
  0.94NPSCX Nuveen Preferred SecPairCorr
  0.94NPSRX Nuveen Preferred SecPairCorr
  0.74FRKSX Nuveen Kansas MunicipalPairCorr
  0.95FRMPX Nuveen Small CapPairCorr
  0.63FRLCX Nuveen Real EstatePairCorr
  0.94FRSLX Nuveen Mid CapPairCorr
  0.96NQCCX Nuveen Nwq LargePairCorr
  0.96NQCAX Nuveen Nwq LargePairCorr
  0.99FACSX Nuveen Mid CapPairCorr
  0.96NQCRX Nuveen Nwq LargePairCorr
  0.73FAFOX Nuveen Kansas MunicipalPairCorr
  0.93NQGCX Nuveen Nwq GlobalPairCorr
  0.93NQGAX Nuveen Nwq GlobalPairCorr
  0.92FAFJX Nuveen Limited TermPairCorr
  0.95NQGIX Nuveen Nwq GlobalPairCorr
  0.9FAMAX Nuveen Minnesota IntPairCorr
  0.9FAMTX Nuveen Minnesota IntPairCorr
  0.97FSCVX Nuveen Small CapPairCorr
  1.0FSCWX Nuveen Small CapPairCorr
  0.97FSCAX Nuveen Small CapPairCorr
  0.99FSEIX Nuveen Mid CapPairCorr
  0.98FAQIX Nuveen Dividend ValuePairCorr
  0.66FARCX Nuveen Real EstatePairCorr
  0.99FASEX Nuveen Mid CapPairCorr
  0.91FSHAX Nuveen Short TermPairCorr
  0.87FSFRX Nuveen Strategic IncomePairCorr

Related Correlations Analysis

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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.

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