Wells Fargo Correlations

EVUAX Fund

USD 20.55 0.02 0.1%

The current 90-days correlation between Wells Fargo Advantage and Dominion Energy is 0.8 (i.e., Very poor 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 nation.

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

0.68	D	Dominion Energy	Pair Corr
0.7	SO	Southern	Pair Corr
0.7	AEE	Ameren Corp	Pair Corr
0.72	ATO	Atmos Energy	Pair Corr
0.62	AWR	American States Water	Pair Corr
0.69	BEP	Brookfield Renewable	Pair Corr
0.85	BIP	Brookfield Infrastructure	Pair Corr
0.84	CEG	Constellation Energy Corp	Pair Corr
0.78	CMS	CMS Energy	Pair Corr
0.76	CNP	CenterPoint Energy Sell-off Trend	Pair Corr

Moving against Wells Mutual Fund

0.52	HE	Hawaiian Electric	Pair Corr
0.37	ELPC	Companhia Paranaense	Pair Corr
0.47	EBR	Centrais Electricas	Pair Corr
0.41	ELP	Companhia Paranaense	Pair Corr
0.38	GNE	Genie Energy	Pair Corr
0.36	CIG	Companhia Energetica	Pair Corr

Related Correlations Analysis

	D	AY	ED	ES	FE	HE	NI	SO	SR	VGAS
D		0.24	0.48	0.19	0.15	-0.14	0.38	0.84	0.24	0.12	D
AY	0.24		-0.57	-0.73	-0.72	-0.37	0.89	-0.02	0.48	0.66	AY
ED	0.48	-0.57		0.85	0.83	0.05	-0.47	0.76	-0.09	-0.41	ED
ES	0.19	-0.73	0.85		0.91	0.27	-0.61	0.43	-0.06	-0.63	ES
FE	0.15	-0.72	0.83	0.91		0.27	-0.57	0.42	0.01	-0.59	FE
HE	-0.14	-0.37	0.05	0.27	0.27		-0.19	-0.28	0.12	-0.38	HE
NI	0.38	0.89	-0.47	-0.61	-0.57	-0.19		0.06	0.7	0.5	NI
SO	0.84	-0.02	0.76	0.43	0.42	-0.28	0.06		0.07	-0.04	SO
SR	0.24	0.48	-0.09	-0.06	0.01	0.12	0.7	0.07		0.14	SR
VGAS	0.12	0.66	-0.41	-0.63	-0.59	-0.38	0.5	-0.04	0.14		VGAS
	D	AY	ED	ES	FE	HE	NI	SO	SR	VGAS

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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

FE	+ 0.91	ES
NI	+ 0.89	AY
ES	+ 0.85	ED
SO	+ 0.84	D
FE	+ 0.83	ED
SO	+ 0.76	ED

High negative correlations

ES	- 0.73	AY
FE	- 0.72	AY
VGAS	- 0.63	ES
NI	- 0.61	ES
VGAS	- 0.59	FE
NI	- 0.57	FE

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
D	0.96	0.10	(0.02)	3.15	1.12	(1.04)	1.83	(1.96)	7.68
AY	0.09	0.01	(0.92)	(0.65)	0.00	(0.11)	0.23	(0.18)	0.60
ED	0.83	0.00	(0.11)	0.14	0.97	(0.85)	1.60	(1.66)	4.57
ES	0.85	(0.03)	0.00	0.39	0.00	0.00	1.74	(2.10)	5.63
FE	0.69	(0.05)	0.00	(0.29)	0.00	0.00	1.09	(1.48)	3.72
HE	2.33	0.02	0.00	0.08	0.00	0.00	5.35	(6.30)	17.19
NI	0.70	0.21	0.12	1.59	0.54	(0.83)	1.54	(1.23)	3.98
SO	0.81	0.08	(0.06)	(0.73)	0.93	(0.86)	1.73	(1.57)	5.63
SR	0.98	0.10	0.05	0.28	1.13	(1.09)	2.58	(1.85)	6.47
VGAS	2.62	0.22	0.06	0.37	2.82	(3.22)	7.07	(4.57)	25.46

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