First American Correlations

FSCCX Fund

USD 34.14 0.05 0.15%

The current 90-days correlation between First American Investment and Nuveen Minnesota Municipal is 0.24 (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.

Check out Investing Opportunities to better understand how to build diversified portfolios. 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.

Moving together with First Mutual Fund

0.86	FSCVX	Nuveen Small Cap	Pair Corr
0.86	FSCWX	Nuveen Small Cap	Pair Corr
0.86	FSCAX	Nuveen Small Cap	Pair Corr

Moving against First Mutual Fund

0.5	FAAWX	Nuveen All American	Pair Corr
0.45	FAARX	Nuveen All American	Pair Corr
0.41	TEMRX	Tiaa Cref Emerging	Pair Corr
0.41	NPSFX	Nuveen Preferred Sec	Pair Corr
0.41	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.38	NPSRX	Nuveen Preferred Sec	Pair Corr
0.31	NPSAX	Nuveen Preferred Sec	Pair Corr
0.31	NPSCX	Nuveen Preferred Sec	Pair Corr
0.51	FACCX	Nuveen All American	Pair Corr
0.51	FAFPX	Nuveen Missouri Municipal	Pair Corr
0.51	FAFNX	Nuveen Michigan Municipal	Pair Corr
0.5	FAMAX	Nuveen Minnesota Int	Pair Corr
0.49	FAFKX	Nuveen Orado Municipal	Pair Corr
0.47	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.47	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.46	FAMTX	Nuveen Minnesota Int	Pair Corr
0.45	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.5	FAZTX	Nuveen Arizona Municipal	Pair Corr
0.32	FSFRX	Nuveen Strategic Income	Pair Corr

Related Correlations Analysis

	FYMNX	NFFCX	FPXCX	ICCSX	NFRAX	NFRFX	TEMRX	NFRIX	NOPCX
FYMNX		0.7	0.0	0.0	0.69	0.67	0.79	0.67	0.0	FYMNX
NFFCX	0.7		0.0	0.0	1.0	0.86	0.61	0.86	0.0	NFFCX
FPXCX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	FPXCX
ICCSX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ICCSX
NFRAX	0.69	1.0	0.0	0.0		0.87	0.59	0.87	0.0	NFRAX
NFRFX	0.67	0.86	0.0	0.0	0.87		0.58	1.0	0.0	NFRFX
TEMRX	0.79	0.61	0.0	0.0	0.59	0.58		0.57	0.0	TEMRX
NFRIX	0.67	0.86	0.0	0.0	0.87	1.0	0.57		0.0	NFRIX
NOPCX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		NOPCX
	FYMNX	NFFCX	FPXCX	ICCSX	NFRAX	NFRFX	TEMRX	NFRIX	NOPCX

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

NFRAX	+ 1.0	NFFCX
NFRIX	+ 1.0	NFRFX
NFRFX	+ 0.87	NFRAX
NFRIX	+ 0.87	NFRAX
NFRFX	+ 0.86	NFFCX
NFRIX	+ 0.86	NFFCX

High negative correlations

NOPCX	- 0.0	NFRIX
NOPCX	- 0.0	TEMRX
NOPCX	- 0.0	NFRFX
NOPCX	- 0.0	NFRAX
NOPCX	- 0.0	ICCSX
NFRIX	- 0.0	ICCSX

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
FYMNX	0.09	0.03	(0.33)	2.94	0.00	(0.15)	0.28	(0.10)	0.57
NFFCX	0.07	0.00	(0.57)	0.15	0.00	(0.16)	0.11	(0.11)	0.85
FPXCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICCSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NFRAX	0.07	0.00	(0.58)	0.16	0.00	(0.18)	0.11	(0.06)	0.96
NFRFX	0.07	0.01	(0.47)	0.30	0.00	(0.19)	0.11	(0.11)	1.01
TEMRX	0.76	0.10	0.08	0.19	0.94	(0.85)	1.48	(1.20)	5.62
NFRIX	0.07	0.01	(0.58)	0.39	0.00	(0.20)	0.11	(0.06)	0.90
NOPCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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