Wells Fargo Correlations

EVSRX Fund

USD 24.88 1.56 5.90%

The current 90-days correlation between Wells Fargo Disciplined and Wells Fargo Large is 0.95 (i.e., Almost no 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

Poor diversification

The correlation between Wells Fargo Disciplined and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Disciplined 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 Disciplined. 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

0.73	WRPIX	Wells Fargo Alternative	Pair Corr
0.74	WRPRX	Wells Fargo Alternative	Pair Corr
0.9	WSCJX	Wells Fargo Small	Pair Corr
0.87	WSCRX	Wells Fargo Advantage	Pair Corr
0.96	STFFX	Wells Fargo Large	Pair Corr
0.78	WTLVX	Wells Fargo Large	Pair Corr
0.86	SCSRX	Wells Fargo Mon	Pair Corr
0.91	SCVJX	Wells Fargo Small	Pair Corr
0.8	WUSRX	Wells Fargo Ultra	Pair Corr
0.75	IPBJX	Wells Fargo Real	Pair Corr
0.9	WDSAX	Allspring Disciplined	Pair Corr
0.94	WEGRX	Allspring Emerging Growth	Pair Corr
0.97	WENRX	Wells Fargo Enterprise	Pair Corr
0.78	WFATX	Wells Fargo Index	Pair Corr
0.96	WFDRX	Wells Fargo Discovery	Pair Corr
0.75	WFPRX	Wells Fargo Special	Pair Corr
0.91	SGRHX	Wells Fargo Growth	Pair Corr
0.9	ESPRX	Wells Fargo Advantage	Pair Corr
0.97	EGORX	Wells Fargo Large	Pair Corr
0.76	EIVFX	Wells Fargo Intrinsic	Pair Corr
0.88	CBEJX	Wells Fargo Cb	Pair Corr
0.98	EKJFX	Wells Fargo Premier	Pair Corr

Moving against Wells Mutual Fund

0.75	WFEHX	Wells Fargo International	Pair Corr
0.64	STYJX	Wells Fargo Core	Pair Corr
0.63	WTRIX	Wells Fargo Advantage	Pair Corr
0.42	EQIRX	Wells Fargo Emerging	Pair Corr
0.31	EMGDX	Wells Fargo Emerging	Pair Corr
0.65	MSDRX	Wells Fargo Short	Pair Corr
0.64	WICRX	Allspring Special	Pair Corr
0.52	LIIAX	Columbia Porate Income	Pair Corr
0.41	SRINX	Columbia Porate Income	Pair Corr

Related Correlations Analysis

	EGOIX	EGOAX	HFCIX	AWEIX
EGOIX		1.0	-0.06	0.89	EGOIX
EGOAX	1.0		-0.06	0.89	EGOAX
HFCIX	-0.06	-0.06		-0.2	HFCIX
AWEIX	0.89	0.89	-0.2		AWEIX
	EGOIX	EGOAX	HFCIX	AWEIX

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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

EGOAX	+ 1.0	EGOIX
AWEIX	+ 0.89	EGOIX
AWEIX	+ 0.89	EGOAX

High negative correlations

AWEIX	- 0.2	HFCIX
HFCIX	- 0.06	EGOAX
HFCIX	- 0.06	EGOIX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EGOIX	0.77	(0.10)	(0.03)	0.01	2.50	(0.63)	1.26	(1.13)	5.23
EGOAX	0.77	(0.11)	(0.04)	0.01	2.48	(0.64)	1.22	(1.14)	5.14
HFCIX	1.07	(0.28)	0.00	(0.12)	0.00	0.00	1.54	(1.69)	17.11
AWEIX	0.43	0.03	0.00	0.14	0.48	(0.45)	0.87	(0.96)	3.88

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