Wells Fargo Correlations

EGOIX Fund

USD 18.47 0.04 0.22%

The current 90-days correlation between Wells Fargo Large and Wells Fargo Large is 1.0 (i.e., No risk reduction). 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 Large and DJI is 0.51 (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 Large 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 Large. 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

0.83	SADAX	Wells Fargo Ultra	Pair Corr
0.83	SADIX	Wells Fargo Ultra	Pair Corr
0.82	SSTHX	Wells Fargo Short	Pair Corr
0.8	WSCGX	Small Pany Growth	Pair Corr
0.92	WSCOX	Wells Fargo Advantage	Pair Corr
0.97	STAFX	Wells Fargo Large	Pair Corr
0.97	STDFX	Wells Fargo Large	Pair Corr
0.84	WSMCX	Small Pany Growth	Pair Corr
0.93	STOFX	Wells Fargo Large	Pair Corr
0.97	STNFX	Wells Fargo Large	Pair Corr
0.89	STSAX	Wells Fargo Mon	Pair Corr
0.83	STYIX	Wells Fargo Short	Pair Corr
0.83	SCNSX	Wells Fargo Mon	Pair Corr
0.83	SCSDX	Wells Fargo Mon	Pair Corr

Moving against Wells Mutual Fund

0.4	SSTVX	Wells Fargo Short	Pair Corr
0.34	EMGYX	Wells Fargo Emerging	Pair Corr
0.34	EMGAX	Wells Fargo Emerging	Pair Corr
0.33	EMGNX	Wells Fargo Emerging	Pair Corr
0.31	WSGIX	Wells Fargo Short	Pair Corr
0.63	MNSGX	Wells Fargo Short	Pair Corr
0.62	MNTRX	Total Return Bond	Pair Corr
0.6	STYAX	Wells Fargo Income	Pair Corr

Related Correlations Analysis

	EGOAX	LSGRX	AWEIX	EGOHX	WFLLX
EGOAX		0.85	0.89	0.69	1.0	EGOAX
LSGRX	0.85		0.95	0.81	0.86	LSGRX
AWEIX	0.89	0.95		0.71	0.89	AWEIX
EGOHX	0.69	0.81	0.71		0.7	EGOHX
WFLLX	1.0	0.86	0.89	0.7		WFLLX
	EGOAX	LSGRX	AWEIX	EGOHX	WFLLX

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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
EGOAX	0.77	(0.11)	(0.04)	0.01	2.48	(0.64)	1.22	(1.14)	5.14
LSGRX	0.71	0.18	0.17	0.34	0.49	(0.81)	1.70	(1.23)	4.77
AWEIX	0.43	0.03	0.00	0.14	0.48	(0.45)	0.87	(0.96)	3.88
EGOHX	0.59	0.14	0.05	(1.65)	0.41	(0.81)	1.51	(1.07)	3.11
WFLLX	0.77	(0.10)	(0.03)	0.01	2.47	(0.63)	1.24	(1.16)	5.25

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