Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Emerging
EMGNX Fund  USD 26.57  0.48  1.77%   
The current 90-days correlation between Wells Fargo Emerging and Ftufox 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

Modest diversification

The correlation between Wells Fargo Emerging and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Emerging 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 Emerging. 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 board of governors.
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

  0.68DHICX Wells Fargo AdvantagePairCorr
  0.71VMPYX Wells Fargo AdvantagePairCorr
  0.72VMPAX Wells Fargo AdvantagePairCorr
  1.0EMGYX Wells Fargo EmergingPairCorr
  1.0EMGCX Wells Fargo EmergingPairCorr
  1.0EMGAX Wells Fargo EmergingPairCorr
  0.89WABIX Wells Fargo AdvantagePairCorr
  0.61SSTVX Wells Fargo ShortPairCorr
  0.74WSBIX Short Term MunicipalPairCorr
  0.89WARAX Wells Fargo AdvantagePairCorr
  0.89WARDX Wells Fargo AdvantagePairCorr
  0.88WARCX Wells Fargo AdvantagePairCorr
  0.82WSIAX Wells Fargo StrategicPairCorr
  0.82WSIDX Wells Fargo StrategicPairCorr
  0.85WSICX Wells Fargo StrategicPairCorr
  0.82WSINX Wells Fargo StrategicPairCorr
  0.73WSMAX Short Term MunicipalPairCorr
  0.72WSSCX Short Term MunicipalPairCorr
  0.74WSTMX Short Term MunicipalPairCorr
  0.73STRIX Wells Fargo AdvantagePairCorr
  0.76STYAX Wells Fargo IncomePairCorr
  0.61STYIX Wells Fargo ShortPairCorr

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.

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