Emerging Growth Correlations

Mutual Funds . USA . 
Fund . Emerging Growth Fund
WEMIX Fund  USD 11.12  0.06  0.54%   
The current 90-days correlation between Emerging Growth and Fidelity Advisor Financial is 0.63 (i.e., Poor diversification). The correlation of Emerging Growth 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.

Emerging Growth Correlation With Market

Poor diversification

The correlation between Emerging Growth Fund and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Growth Fund 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 Emerging Growth Fund. 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 gross domestic product.

Moving together with Emerging Mutual Fund

  0.93WFEIX Wells Fargo EnterprisePairCorr
  0.83WFMDX Wells Fargo SpecialPairCorr
  0.9WFSTX Specialized TechnologyPairCorr
  0.88SGRKX Wells Fargo GrowthPairCorr
  0.62WGCFX Wealthbuilder GrowthPairCorr
  0.87ESPCX Wells Fargo AdvantagePairCorr
  0.9EVSIX Wells Fargo DisciplinedPairCorr
  0.9EVSYX Wells Fargo DisciplinedPairCorr
  0.97EGWAX Wells Fargo AdvantagePairCorr

Moving against Emerging Mutual Fund

  0.74SSHIX Wells Fargo ShortPairCorr
  0.72SADAX Wells Fargo UltraPairCorr
  0.72SSTVX Wells Fargo ShortPairCorr
  0.69WFENX Wells Fargo InternationalPairCorr
  0.67WGSDX Wells Fargo GovernmentPairCorr
  0.66WFEFX Wells Fargo InternationalPairCorr
  0.65WUSMX Ultra Short TermPairCorr
  0.62MNTRX Total Return BondPairCorr
  0.61WSINX Wells Fargo StrategicPairCorr
  0.6WSBIX Short Term MunicipalPairCorr
  0.5SFCIX California Limited TermPairCorr
  0.46STRIX Wells Fargo AdvantagePairCorr
  0.45SSTHX Wells Fargo ShortPairCorr
  0.42SFCCX California Limited TermPairCorr
  0.36EMGAX Wells Fargo EmergingPairCorr
  0.36WHYIX Wells Fargo AdvantagePairCorr
  0.35DHICX Wells Fargo AdvantagePairCorr
  0.62MBFCX Total Return BondPairCorr
  0.5EKWCX Wells Fargo AdvantagePairCorr
  0.39WITIX Intermediate TaxamtPairCorr
  0.36WHYDX Wells Fargo AdvantagePairCorr
  0.33WHYMX Wells Fargo AdvantagePairCorr
  0.31WHYCX Wells Fargo AdvantagePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Emerging Mutual Fund performing well and Emerging Growth 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 Emerging Growth'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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