Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Premier
EKJFX Fund  USD 12.12  0.01  0.08%   
The current 90-days correlation between Wells Fargo Premier and Payden Rygel Investment is 0.01 (i.e., Significant 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

Good diversification

The correlation between Wells Fargo Premier and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Premier 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 Premier. 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 census.
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

  0.97FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.97AGTHX Growth FundPairCorr
  0.97CGFFX Growth FundPairCorr
  0.88CGFCX Growth FundPairCorr
  0.88CGFAX Growth FundPairCorr
  0.88CGFEX Growth FundPairCorr
  0.97RGAEX Growth FundPairCorr
  0.83AXP American ExpressPairCorr
  0.7JPM JPMorgan Chase Sell-off TrendPairCorr
  0.76BAC Bank of America Aggressive PushPairCorr

Moving against Wells Mutual Fund

  0.53BTMPX Ishares Msci EafePairCorr
  0.53BTMKX Blackrock InternationalPairCorr
  0.5MDIIX Blackrock Intern IndexPairCorr
  0.66VZ Verizon CommunicationsPairCorr
  0.51PG Procter GamblePairCorr
  0.47MCD McDonaldsPairCorr
  0.46KO Coca ColaPairCorr
  0.38T ATT Inc Earnings Call This WeekPairCorr

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   
HNRGX
+ 0.98
VENAX
PEO
+ 0.96
HNRGX
PEO
+ 0.95
VENAX
HNRGX
+ 0.82
XEMOX
PEO
+ 0.82
XEMOX
VENAX
+ 0.79
XEMOX
  
High negative correlations   
GRHAX
- 0.22
PYILX
VENAX
- 0.01
PYILX

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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