First American Correlations

FPUXX Fund

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The current 90-days correlation between First American Funds and Artisan Global Unconstrained is 0.15 (i.e., Average 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

Good diversification

The correlation between First American Funds and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First American Funds 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 Funds. Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

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

Moving together with First Money Market Fund

0.65	VTSAX	Vanguard Total Stock	Pair Corr
0.69	VFIAX	Vanguard 500 Index	Pair Corr
0.65	VTSMX	Vanguard Total Stock	Pair Corr
0.67	VITSX	Vanguard Total Stock	Pair Corr
0.65	VSTSX	Vanguard Total Stock	Pair Corr
0.65	VSMPX	Vanguard Total Stock	Pair Corr
0.69	VFINX	Vanguard 500 Index	Pair Corr
0.67	VFFSX	Vanguard 500 Index	Pair Corr
0.62	BSDAX	Blackrock Smid Cap	Pair Corr
0.66	ELFNX	Elfun Trusts Elfun	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.63	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.78	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against First Money Market Fund

0.58	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.77	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.66	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.53	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.39	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.36	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	APDPX	WRLDX	ANAGX	MGGNX	CABIX	AWF	DHGCX
APDPX		0.51	-0.87	-0.15	-0.18	-0.53	-0.79	APDPX
WRLDX	0.51		-0.19	0.39	0.45	0.21	-0.1	WRLDX
ANAGX	-0.87	-0.19		0.54	0.51	0.67	0.95	ANAGX
MGGNX	-0.15	0.39	0.54		0.72	0.43	0.69	MGGNX
CABIX	-0.18	0.45	0.51	0.72		0.69	0.62	CABIX
AWF	-0.53	0.21	0.67	0.43	0.69		0.65	AWF
DHGCX	-0.79	-0.1	0.95	0.69	0.62	0.65		DHGCX
	APDPX	WRLDX	ANAGX	MGGNX	CABIX	AWF	DHGCX

Click cells to compare fundamentals

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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

DHGCX	+ 0.95	ANAGX
CABIX	+ 0.72	MGGNX
DHGCX	+ 0.69	MGGNX
AWF	+ 0.69	CABIX
AWF	+ 0.67	ANAGX
DHGCX	+ 0.65	AWF

High negative correlations

ANAGX	- 0.87	APDPX
DHGCX	- 0.79	APDPX
AWF	- 0.53	APDPX
ANAGX	- 0.19	WRLDX
CABIX	- 0.18	APDPX
MGGNX	- 0.15	APDPX

Risk-Adjusted Indicators

There is a big difference between First Money Market Fund performing well and First American Money Market 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
APDPX	0.11	0.02	(0.52)	16.57	0.00	(0.15)	0.20	(0.20)	0.69
WRLDX	0.47	(0.03)	(0.15)	0.07	0.42	(0.57)	0.92	(0.72)	2.75
ANAGX	0.16	(0.02)	0.00	4.50	0.00	0.00	0.29	(0.29)	1.01
MGGNX	0.19	0.02	(0.36)	(0.56)	0.15	(0.25)	0.34	(0.34)	1.13
CABIX	0.29	0.04	(0.18)	0.73	0.27	(0.34)	0.57	(0.62)	1.86
AWF	0.32	(0.04)	0.00	(0.08)	0.00	0.00	0.56	(0.74)	1.83
DHGCX	0.15	(0.01)	(0.64)	(0.25)	0.17	(0.18)	0.31	(0.25)	0.96

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