Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Advantage
WARCX Fund  USD 11.00  0.04  0.36%   
The current 90-days correlation between Wells Fargo Advantage and Energy Basic Materials is 0.44 (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

Very weak diversification

The correlation between Wells Fargo Advantage and DJI is 0.47 (i.e., Very weak 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 Your Current Watchlist 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 main economic indicators.
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

  0.86DHICX Wells Fargo AdvantagePairCorr
  0.86VMPYX Wells Fargo AdvantagePairCorr
  0.87VMPAX Wells Fargo AdvantagePairCorr
  0.72SADAX Wells Fargo UltraPairCorr
  0.7SADIX Wells Fargo UltraPairCorr
  0.85EMGYX Wells Fargo EmergingPairCorr
  0.85EMGNX Wells Fargo EmergingPairCorr
  0.85EMGCX Wells Fargo EmergingPairCorr
  0.85EMGAX Wells Fargo EmergingPairCorr
  0.79SSHIX Wells Fargo ShortPairCorr
  1.0WABIX Wells Fargo AdvantagePairCorr
  0.83SSTHX Wells Fargo ShortPairCorr
  0.85WSBIX Short Term MunicipalPairCorr
  1.0WARAX Wells Fargo AdvantagePairCorr
  1.0WARDX Wells Fargo AdvantagePairCorr
  0.89WSIAX Wells Fargo StrategicPairCorr
  0.89WSIDX Wells Fargo StrategicPairCorr
  0.89WSINX Wells Fargo StrategicPairCorr
  0.85WSMAX Short Term MunicipalPairCorr
  0.88WSSCX Short Term MunicipalPairCorr
  0.85WSTMX Short Term MunicipalPairCorr
  0.87STRIX Wells Fargo AdvantagePairCorr
  0.88STYAX Wells Fargo IncomePairCorr
  0.8STYIX Wells Fargo ShortPairCorr
  0.72SCTAX California Tax FreePairCorr
  0.67SCTCX California Tax FreePairCorr

Moving against Wells Mutual Fund

  0.36STSAX Wells Fargo MonPairCorr
  0.33WSCGX Small Pany GrowthPairCorr
  0.35SCNSX Wells Fargo MonPairCorr
  0.35SCSDX Wells Fargo MonPairCorr
  0.35SCSAX Wells Fargo MonPairCorr

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.

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