Wells Fargo Correlations

WARRX Fund

USD 10.64 0.05 0.47%

The current 90-days correlation between Wells Fargo Advantage and Tax Managed International Equity is 0.62 (i.e., 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

Very weak diversification

The correlation between Wells Fargo Advantage and DJI is 0.43 (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 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

0.87	VMPRX	Wells Fargo Strategic	Pair Corr
0.86	EMGDX	Wells Fargo Emerging	Pair Corr
0.76	WRPIX	Wells Fargo Alternative	Pair Corr
0.76	WRPRX	Wells Fargo Alternative	Pair Corr
0.81	SSTYX	Wells Fargo Short	Pair Corr
0.86	WSSRX	Wells Fargo Short	Pair Corr
0.89	STYJX	Wells Fargo Core	Pair Corr
0.65	WTLVX	Wells Fargo Large	Pair Corr
0.86	WTRIX	Wells Fargo Advantage	Pair Corr
0.82	WUSRX	Wells Fargo Ultra	Pair Corr
0.87	IPBJX	Wells Fargo Real	Pair Corr
0.78	EQIRX	Wells Fargo Emerging	Pair Corr
0.84	WFCMX	Wells Fargo Fds	Pair Corr
0.84	WFEHX	Wells Fargo International	Pair Corr
0.88	WFRTX	Wells Fargo Intermediate	Pair Corr
0.74	MSDRX	Wells Fargo Short	Pair Corr
0.88	WICRX	Allspring Special	Pair Corr
0.79	WMBRX	Wells Fargo Municipal	Pair Corr
0.62	EIVFX	Wells Fargo Intrinsic	Pair Corr
0.85	EKHRX	Wells Fargo High	Pair Corr
0.92	EKSRX	Wells Fargo Diversified	Pair Corr
0.96	RIRAX	Capital Income Builder	Pair Corr

Moving against Wells Mutual Fund

0.39	WEGRX	Allspring Emerging Growth	Pair Corr
0.38	SCSRX	Wells Fargo Mon	Pair Corr
0.36	WSCRX	Wells Fargo Advantage	Pair Corr
0.31	WDSAX	Allspring Disciplined	Pair Corr
0.31	WFDRX	Wells Fargo Discovery	Pair Corr

Related Correlations Analysis

	RTIUX	PWITX	PAEIX	OWFIX	TRWIX	RBCIX	DHGCX
RTIUX		0.95	1.0	0.81	0.99	0.95	0.74	RTIUX
PWITX	0.95		0.95	0.83	0.95	0.91	0.75	PWITX
PAEIX	1.0	0.95		0.83	0.99	0.94	0.74	PAEIX
OWFIX	0.81	0.83	0.83		0.86	0.81	0.88	OWFIX
TRWIX	0.99	0.95	0.99	0.86		0.96	0.75	TRWIX
RBCIX	0.95	0.91	0.94	0.81	0.96		0.72	RBCIX
DHGCX	0.74	0.75	0.74	0.88	0.75	0.72		DHGCX
	RTIUX	PWITX	PAEIX	OWFIX	TRWIX	RBCIX	DHGCX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RTIUX	0.61	0.10	0.16	0.14	0.76	(0.66)	1.47	(1.45)	5.02
PWITX	0.77	0.00	0.00	(0.06)	0.00	0.00	1.52	(1.47)	9.99
PAEIX	0.67	0.12	0.16	0.15	0.78	(0.72)	1.50	(1.54)	4.54
OWFIX	0.18	0.01	0.25	0.09	0.19	(0.22)	0.40	(0.40)	1.39
TRWIX	0.73	0.17	0.16	0.19	0.96	(0.69)	1.99	(1.76)	5.45
RBCIX	1.30	0.24	0.17	0.64	1.31	(1.52)	2.72	(2.64)	7.76
DHGCX	0.17	0.00	0.24	(0.17)	0.21	(0.22)	0.36	(0.36)	1.46

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