Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Advantage
EGRYX Fund  USD 17.72  0.71  3.85%   
The current 90-days correlation between Wells Fargo Advantage and Wells Fargo Global is 0.79 (i.e., Poor 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 poor diversification

The correlation between Wells Fargo Advantage and DJI is 0.84 (i.e., Very poor 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 manufacturing.
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

  0.79SADAX Wells Fargo UltraPairCorr
  0.79SADIX Wells Fargo UltraPairCorr
  0.83SSTHX Wells Fargo ShortPairCorr
  0.65WSCGX Small Pany GrowthPairCorr
  0.87WSCOX Wells Fargo AdvantagePairCorr
  0.62STDFX Wells Fargo LargePairCorr
  0.61STNFX Wells Fargo LargePairCorr
  0.82STYIX Wells Fargo ShortPairCorr
  0.85SCNSX Wells Fargo MonPairCorr
  0.84SCSDX Wells Fargo MonPairCorr

Moving against Wells Mutual Fund

  0.6EMGYX Wells Fargo EmergingPairCorr
  0.6EMGAX Wells Fargo EmergingPairCorr
  0.59EMGNX Wells Fargo EmergingPairCorr
  0.58EMGCX Wells Fargo EmergingPairCorr
  0.62MNSGX Wells Fargo ShortPairCorr
  0.53MNTRX Total Return BondPairCorr
  0.46STYAX Wells Fargo IncomePairCorr

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   
RPEAX
+ 0.83
ESPAX
ESPAX
+ 0.68
EKGAX
RPEAX
+ 0.55
EKGAX
EKHAX
+ 0.27
EKGAX
EKHAX
+ 0.24
ESPAX
  
High negative correlations   
RPEAX
- 0.06
EKHAX

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.

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