Wells Fargo Correlations

EAAIX Fund

USD 14.47 0.14 0.96%

The current 90-days correlation between Wells Fargo Advantage and Pioneer High Income is 0.23 (i.e., Modest diversification). The correlation of Wells Fargo 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.

Wells Fargo Correlation With Market

Very weak diversification

The correlation between Wells Fargo Advantage and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Advantage 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 Wells Fargo Advantage. 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 gross domestic product.

For more information on how to buy Wells Mutual Fund please use our How to Invest in Wells Fargo guide.

Moving together with Wells Mutual Fund

0.69	DHICX	Wells Fargo Advantage	Pair Corr
0.92	WSCGX	Small Pany Growth	Pair Corr
0.88	WSCOX	Wells Fargo Advantage	Pair Corr
0.61	WARCX	Wells Fargo Advantage	Pair Corr
0.9	STAFX	Wells Fargo Large	Pair Corr
0.9	STDFX	Wells Fargo Large	Pair Corr
0.93	WSMCX	Small Pany Growth	Pair Corr
0.9	STOFX	Wells Fargo Large	Pair Corr
0.9	STNFX	Wells Fargo Large	Pair Corr
0.88	STSAX	Wells Fargo Mon	Pair Corr
0.66	STYAX	Wells Fargo Income	Pair Corr
0.87	SCNSX	Wells Fargo Mon	Pair Corr
0.8	SCTAX	California Tax Free	Pair Corr
0.78	SCTCX	California Tax Free	Pair Corr
0.87	SCSDX	Wells Fargo Mon	Pair Corr

Moving against Wells Mutual Fund

0.44	SADAX	Wells Fargo Ultra	Pair Corr
0.44	SADIX	Wells Fargo Ultra	Pair Corr

Related Correlations Analysis

	HIMYX	GHVIX	ARTFX	AHYMX	PHDTX	MFHVX	SGYAX
HIMYX		0.74	0.67	0.94	0.73	0.47	0.66	HIMYX
GHVIX	0.74		0.92	0.8	0.98	0.88	0.91	GHVIX
ARTFX	0.67	0.92		0.67	0.91	0.92	0.99	ARTFX
AHYMX	0.94	0.8	0.67		0.8	0.5	0.66	AHYMX
PHDTX	0.73	0.98	0.91	0.8		0.87	0.91	PHDTX
MFHVX	0.47	0.88	0.92	0.5	0.87		0.93	MFHVX
SGYAX	0.66	0.91	0.99	0.66	0.91	0.93		SGYAX
	HIMYX	GHVIX	ARTFX	AHYMX	PHDTX	MFHVX	SGYAX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Wells Mutual Fund performing well and Wells Fargo 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 Wells Fargo'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
HIMYX	0.18	0.02	0.12	0.57	0.13	(0.26)	0.49	(0.33)	1.31
GHVIX	0.15	0.02	0.21	0.26	0.00	(0.17)	0.30	(0.24)	0.90
ARTFX	0.12	0.02	0.22	1.53	0.00	(0.21)	0.44	(0.22)	1.22
AHYMX	0.12	0.01	0.15	0.50	0.01	(0.17)	0.22	(0.22)	0.98
PHDTX	0.11	0.03	0.21	0.53	0.00	(0.15)	0.23	(0.23)	0.79
MFHVX	0.10	0.01	0.12	0.09	0.04	(0.15)	0.24	(0.23)	1.06
SGYAX	0.15	0.03	0.27	1.40	0.00	(0.28)	0.57	(0.28)	1.28

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