Wells Fargo Correlations

EKSYX Fund  USD 5.88  0.03  0.51%   
The current 90-days correlation between Wells Fargo Diversified and Wells Fargo Advantage is 0.18 (i.e., Average 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

Average diversification

The correlation between Wells Fargo Diversified and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Diversified 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 Diversified. 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

  0.65VMPAX Wells Fargo AdvantagePairCorr
  0.77WABIX Wells Fargo AdvantagePairCorr
  0.62WSBIX Short Term MunicipalPairCorr
  0.87WARAX Wells Fargo AdvantagePairCorr
  0.76WARDX Wells Fargo AdvantagePairCorr
  0.74WARCX Wells Fargo AdvantagePairCorr
  0.68WSIAX Wells Fargo StrategicPairCorr
  0.79WSIDX Wells Fargo StrategicPairCorr
  0.74WSICX Wells Fargo StrategicPairCorr
  0.72WSINX Wells Fargo StrategicPairCorr
  0.63WSMAX Short Term MunicipalPairCorr
  0.68WSTMX Short Term MunicipalPairCorr
  0.63SCTAX California Tax FreePairCorr

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   
EMGNXEMGYX
EMGAXEMGYX
EMGAXEMGNX
VMPYXDHICX
VMPAXVMPYX
VMPAXDHICX
  
High negative correlations   
EMGAXSADIX
EMGYXSADIX
EMGCXSADIX
EMGNXSADIX
EMGAXSADAX
EMGNXSADAX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHICX  0.11 (0.02) 0.00 (0.81) 0.00 
 0.23 
 1.02 
VMPYX  0.11 (0.02) 0.00 (0.57) 0.00 
 0.23 
 0.91 
VMPAX  0.12 (0.02) 0.00 (0.66) 0.00 
 0.23 
 1.02 
SADAX  0.05  0.00 (0.28) 0.35  0.00 
 0.11 
 0.46 
SADIX  0.05  0.01 (0.23) 0.97  0.00 
 0.11 
 0.57 
EMGYX  0.63 (0.06) 0.00 (0.26) 0.00 
 1.23 
 5.15 
EMGNX  0.63 (0.07) 0.00 (0.29) 0.00 
 1.22 
 5.20 
EMGCX  0.61 (0.05) 0.00 (0.76) 0.00 
 1.27 
 5.16 
EMGAX  0.63 (0.06) 0.00 (0.26) 0.00 
 1.23 
 5.16 
SSHIX  0.08 (0.02) 0.00  12.42  0.00 
 0.12 
 0.70