Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Growth
SGRKX Fund  USD 46.81  0.28  0.60%   
The current 90-days correlation between Wells Fargo Growth and Jpmorgan Mid Cap is 0.07 (i.e., Significant 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 Growth and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Wells Fargo Growth. 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 industry.
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

  0.85SADAX Wells Fargo UltraPairCorr
  0.87SADIX Wells Fargo UltraPairCorr
  0.79SSTHX Wells Fargo ShortPairCorr
  0.86WSCGX Small Pany GrowthPairCorr
  0.89WSCOX Wells Fargo AdvantagePairCorr
  1.0STAFX Wells Fargo LargePairCorr
  1.0STDFX Wells Fargo LargePairCorr
  0.86WSMCX Small Pany GrowthPairCorr
  1.0STOFX Wells Fargo LargePairCorr
  1.0STNFX Wells Fargo LargePairCorr
  0.82STSAX Wells Fargo MonPairCorr
  0.81STYIX Wells Fargo ShortPairCorr
  0.83SCNSX Wells Fargo MonPairCorr
  0.83SCSDX Wells Fargo MonPairCorr

Moving against Wells Mutual Fund

  0.47WSGIX Wells Fargo ShortPairCorr
  0.71MNTRX Total Return BondPairCorr
  0.69STYAX Wells Fargo IncomePairCorr

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   
WFDDX
+ 0.98
VSEIX
VSEIX
+ 0.95
VSNGX
WFDDX
+ 0.95
VSNGX
JUESX
+ 0.95
WFDDX
JUESX
+ 0.93
VSNGX
JUESX
+ 0.93
VSEIX
  
High negative correlations   
JIESX
- 0.59
VSNGX
WFDDX
- 0.5
JIESX
VSEIX
- 0.49
JIESX
JUESX
- 0.48
JIESX

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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