Wells Fargo Correlations

EMGNX Fund  USD 27.64  0.12  0.43%   
The current 90-days correlation between Wells Fargo Emerging and Rationalpier 88 Convertible is 0.57 (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

Weak diversification

The correlation between Wells Fargo Emerging and DJI is 0.38 (i.e., Weak 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

  0.65DHICX Wells Fargo AdvantagePairCorr
  0.67VMPYX Wells Fargo AdvantagePairCorr
  0.7VMPAX Wells Fargo AdvantagePairCorr
  0.67SADAX Wells Fargo UltraPairCorr
  0.66SADIX Wells Fargo UltraPairCorr
  1.0EMGYX Wells Fargo EmergingPairCorr
  1.0EMGCX Wells Fargo EmergingPairCorr
  1.0EMGAX Wells Fargo EmergingPairCorr
  0.76SSHIX Wells Fargo ShortPairCorr
  0.86WABIX Wells Fargo AdvantagePairCorr
  0.68SSTHX Wells Fargo ShortPairCorr
  0.76SSTVX Wells Fargo ShortPairCorr
  0.74WSBIX Short Term MunicipalPairCorr
  0.86WARAX Wells Fargo AdvantagePairCorr
  0.86WARDX Wells Fargo AdvantagePairCorr
  0.85WARCX Wells Fargo AdvantagePairCorr
  0.69WSGIX Wells Fargo ShortPairCorr
  0.81WSIAX Wells Fargo StrategicPairCorr
  0.81WSIDX Wells Fargo StrategicPairCorr
  0.81WSICX Wells Fargo StrategicPairCorr
  0.81WSINX Wells Fargo StrategicPairCorr
  0.74WSMAX Short Term MunicipalPairCorr
  0.75WSSCX Short Term MunicipalPairCorr
  0.73WSTMX Short Term MunicipalPairCorr
  0.69STRIX Wells Fargo AdvantagePairCorr
  0.78STYAX Wells Fargo IncomePairCorr
  0.67STYIX Wells Fargo ShortPairCorr

Moving against Wells Mutual Fund

  0.43WSCGX Small Pany GrowthPairCorr
  0.39WSCOX Wells Fargo AdvantagePairCorr
  0.49STSAX Wells Fargo MonPairCorr
  0.36WSMCX Small Pany GrowthPairCorr
  0.34STOFX Wells Fargo LargePairCorr
  0.33STAFX Wells Fargo LargePairCorr
  0.33STDFX Wells Fargo LargePairCorr
  0.33STNFX Wells Fargo LargePairCorr
  0.48SCNSX Wells Fargo MonPairCorr
  0.48SCSDX Wells Fargo MonPairCorr
  0.48SCSAX Wells Fargo MonPairCorr
  0.34SCVAX Small Pany ValuePairCorr
  0.34SCVIX Small Pany ValuePairCorr
  0.34SCVFX Small Pany ValuePairCorr

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.