First American Correlations

Stocks . USA . 
Stock . First American
FAF Stock  USD 64.74  0.46  0.71%   
The current 90-days correlation between First American and Fidelity National Financial is 0.71 (i.e., Poor 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

Modest diversification

The correlation between First American and DJI is 0.26 (i.e., Modest 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.
  
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 together with First Stock

  0.86ACT Enact HoldingsPairCorr
  0.73AXS AXIS Capital HoldingsPairCorr
  0.73EIG Employers Holdings Normal TradingPairCorr
  0.8FNF Fidelity National Normal TradingPairCorr
  0.67MTG MGIC Investment CorpPairCorr
  0.77RDN Radian GroupPairCorr
  0.72HIPO Hippo HoldingsPairCorr
  0.89AXS-PE AXIS Capital HoldingsPairCorr
  0.74ITIC Investors TitlePairCorr
  0.83RYAN Ryan Specialty Group Sell-off TrendPairCorr
  0.65AMBC Ambac Financial GroupPairCorr
  0.65AMSF AMERISAFEPairCorr
  0.84TIPT TiptreePairCorr
  0.61DHIL Diamond Hill InvestmentPairCorr
  0.65AX Axos FinancialPairCorr
  0.81BY Byline BancorpPairCorr
  0.71CB ChubbPairCorr
  0.64FG FG Annuities LifePairCorr

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   
STC
+ 0.69
FNF
ORI
+ 0.56
FNF
AFG
+ 0.44
FNF
AFG
+ 0.36
STC
RGA
+ 0.32
AFG
ORI
+ 0.05
STC
  
High negative correlations   
RGA
- 0.23
STC
AFG
- 0.16
ORI
RGA
- 0.09
FNF

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.

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