Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Emerging
EQIRX Fund  USD 12.16  0.05  0.41%   
The current 90-days correlation between Wells Fargo Emerging and Kentucky Tax Free Short To Medium is -0.03 (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

Average diversification

The correlation between Wells Fargo Emerging and DJI is 0.13 (i.e., Average 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 metropolitan statistical area.
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

  0.96EMGDX Wells Fargo EmergingPairCorr
  0.62WFEHX Wells Fargo InternationalPairCorr

Moving against Wells Mutual Fund

  0.69WRPIX Wells Fargo AlternativePairCorr
  0.69WRPRX Wells Fargo AlternativePairCorr
  0.54SCSRX Wells Fargo MonPairCorr
  0.5WEGRX Allspring Emerging GrowthPairCorr
  0.5WENRX Wells Fargo EnterprisePairCorr
  0.48SCVJX Wells Fargo SmallPairCorr
  0.48WFDRX Wells Fargo DiscoveryPairCorr
  0.47WUSRX Wells Fargo UltraPairCorr
  0.43WSCJX Wells Fargo SmallPairCorr
  0.42WDSAX Allspring DisciplinedPairCorr
  0.39WSCRX Wells Fargo AdvantagePairCorr
  0.37STFFX Wells Fargo LargePairCorr
  0.33SGRHX Wells Fargo GrowthPairCorr
  0.49ESPRX Wells Fargo AdvantagePairCorr
  0.45FTCAX Templeton Strained BondPairCorr
  0.44EKJFX Wells Fargo PremierPairCorr
  0.42EVSRX Wells Fargo DisciplinedPairCorr
  0.42EGORX Wells Fargo LargePairCorr
  0.38CBEJX Wells Fargo CbPairCorr

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   
CMGUX
+ 0.79
QLENX
BIIPX
+ 0.7
KYSMX
RSDIX
+ 0.61
KYSMX
HYSZX
+ 0.57
CMGUX
BIIPX
+ 0.53
RSDIX
HYSZX
+ 0.48
QLENX
  
High negative correlations   
CMGUX
- 0.37
KYSMX
CMGUX
- 0.22
BIIPX
QLENX
- 0.2
KYSMX
BIIPX
- 0.15
QLENX

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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