Wells Fargo Correlations

EGWAX Fund

USD 12.25 0.06 0.49%

The current 90-days correlation between Wells Fargo Advantage and Wells Fargo Global is 0.56 (i.e., Very weak 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

Poor diversification

The correlation between Wells Fargo Advantage and DJI is 0.64 (i.e., 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 nation.

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

0.95	WFEIX	Wells Fargo Enterprise	Pair Corr
0.82	WFMDX	Wells Fargo Special	Pair Corr
0.9	WFSTX	Specialized Technology	Pair Corr
0.97	SGRKX	Wells Fargo Growth	Pair Corr
0.88	ESPCX	Wells Fargo Advantage	Pair Corr
0.9	EVSIX	Wells Fargo Disciplined	Pair Corr
0.93	EVSYX	Wells Fargo Disciplined	Pair Corr

Moving against Wells Mutual Fund

0.77	MNTRX	Total Return Bond	Pair Corr
0.76	SSHIX	Wells Fargo Short	Pair Corr
0.75	SSTVX	Wells Fargo Short	Pair Corr
0.73	WGSDX	Wells Fargo Government	Pair Corr
0.72	SADAX	Wells Fargo Ultra	Pair Corr
0.71	WFEFX	Wells Fargo International	Pair Corr
0.71	WFENX	Wells Fargo International	Pair Corr
0.68	WUSMX	Ultra Short Term	Pair Corr
0.66	WSBIX	Short Term Municipal	Pair Corr
0.66	WSINX	Wells Fargo Strategic	Pair Corr
0.58	STRIX	Wells Fargo Advantage	Pair Corr
0.57	SFCCX	California Limited Term	Pair Corr
0.54	SFCIX	California Limited Term	Pair Corr
0.53	WHYIX	Wells Fargo Advantage	Pair Corr
0.51	DHICX	Wells Fargo Advantage	Pair Corr
0.46	EMGAX	Wells Fargo Emerging	Pair Corr
0.45	SSTHX	Wells Fargo Short	Pair Corr
0.42	WARDX	Wells Fargo Advantage	Pair Corr
0.4	WARCX	Wells Fargo Advantage	Pair Corr
0.31	SCTAX	California Tax Free	Pair Corr
0.77	MBFCX	Total Return Bond	Pair Corr
0.53	EKWCX	Wells Fargo Advantage	Pair Corr
0.51	WITIX	Intermediate Taxamt	Pair Corr
0.5	WHYCX	Wells Fargo Advantage	Pair Corr
0.5	WHYMX	Wells Fargo Advantage	Pair Corr
0.41	WHYDX	Wells Fargo Advantage	Pair Corr
0.35	WMFAX	Municipal Bond	Pair Corr

Related Correlations Analysis

	EKGAX	EKOAX	ESPAX	EKHAX	RPEAX
EKGAX		0.0	0.7	0.36	0.69	EKGAX
EKOAX	0.0		0.0	0.0	0.0	EKOAX
ESPAX	0.7	0.0		-0.06	0.48	ESPAX
EKHAX	0.36	0.0	-0.06		0.57	EKHAX
RPEAX	0.69	0.0	0.48	0.57		RPEAX
	EKGAX	EKOAX	ESPAX	EKHAX	RPEAX

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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

ESPAX	+ 0.7	EKGAX
RPEAX	+ 0.69	EKGAX
RPEAX	+ 0.57	EKHAX
RPEAX	+ 0.48	ESPAX
EKHAX	+ 0.36	EKGAX
EKOAX	+ 0.0	EKGAX

High negative correlations

EKHAX	- 0.06	ESPAX
RPEAX	- 0.0	EKOAX
EKHAX	- 0.0	EKOAX
ESPAX	- 0.0	EKOAX
EKOAX	- 0.0	EKGAX

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
EKGAX	0.72	0.03	0.00	(0.03)	0.00	0.00	1.54	(1.70)	3.63
EKOAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ESPAX	0.81	(0.03)	0.00	(0.11)	0.00	0.00	1.45	(1.68)	3.69
EKHAX	0.19	0.02	0.26	0.52	0.05	(0.43)	0.34	(0.33)	1.34
RPEAX	0.69	0.02	0.09	(0.30)	0.92	(0.70)	1.39	(1.52)	4.46

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