Wells Fargo Correlations

EKWCX Fund  USD 61.89  0.72  1.18%   
The current 90-days correlation between Wells Fargo Advantage and Mondrian Emerging Markets is -0.06 (i.e., Good 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

Modest diversification

The correlation between Wells Fargo Advantage and DJI is 0.2 (i.e., Modest 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 main economic indicators.
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

  0.62DHICX Wells Fargo AdvantagePairCorr
  0.69VMPYX Wells Fargo AdvantagePairCorr
  0.67VMPAX Wells Fargo AdvantagePairCorr
  0.85SADAX Wells Fargo UltraPairCorr
  0.85SADIX Wells Fargo UltraPairCorr
  0.76EMGYX Wells Fargo EmergingPairCorr
  0.76EMGNX Wells Fargo EmergingPairCorr
  0.74EMGCX Wells Fargo EmergingPairCorr
  0.75EMGAX Wells Fargo EmergingPairCorr
  0.85SSHIX Wells Fargo ShortPairCorr
  0.74WABIX Wells Fargo AdvantagePairCorr
  0.89SSTHX Wells Fargo ShortPairCorr
  0.84SSTVX Wells Fargo ShortPairCorr
  0.85WSBIX Short Term MunicipalPairCorr
  0.72WARAX Wells Fargo AdvantagePairCorr
  0.73WARDX Wells Fargo AdvantagePairCorr
  0.71WARCX Wells Fargo AdvantagePairCorr
  0.81WSGIX Wells Fargo ShortPairCorr
  0.83WSIAX Wells Fargo StrategicPairCorr
  0.85WSIDX Wells Fargo StrategicPairCorr
  0.82WSICX Wells Fargo StrategicPairCorr
  0.84WSINX Wells Fargo StrategicPairCorr
  0.84WSMAX Short Term MunicipalPairCorr
  0.82WSSCX Short Term MunicipalPairCorr
  0.85WSTMX Short Term MunicipalPairCorr
  0.68STRIX Wells Fargo AdvantagePairCorr
  0.68STYAX Wells Fargo IncomePairCorr
  0.88STYIX Wells Fargo ShortPairCorr

Moving against Wells Mutual Fund

  0.34WSCGX Small Pany GrowthPairCorr
  0.31WSCOX Wells Fargo AdvantagePairCorr
  0.31STSAX Wells Fargo MonPairCorr
  0.39SCSDX Wells Fargo MonPairCorr
  0.38SCSAX Wells Fargo MonPairCorr
  0.37SCNSX Wells Fargo MonPairCorr

Related Correlations Analysis

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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.