Wells Fargo Correlations

WFCPX Stock

USD 17.06 0.04 0.24%

The current 90-days correlation between Wells Fargo and Treace Medical Concepts is 0.12 (i.e., Average 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 Co and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Co 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 Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Wells Stock please use our How to Invest in Wells Fargo guide.

Moving together with Wells Stock

0.65	DB	Deutsche Bank AG	Pair Corr
0.71	DX	Dynex Capital	Pair Corr
0.7	LU	Lufax Holding Downward Rally	Pair Corr
0.62	LX	Lexinfintech Holdings	Pair Corr
0.73	XP	Xp Inc Normal Trading	Pair Corr
0.8	DMYY	dMY Squared Technology	Pair Corr
0.76	EMCGU	Embrace Change Acqui	Pair Corr

Moving against Wells Stock

0.62	LC	LendingClub Corp Sell-off Trend	Pair Corr
0.56	CG	Carlyle Group Normal Trading	Pair Corr
0.56	MC	Moelis	Pair Corr
0.51	BX	Blackstone Group Normal Trading	Pair Corr
0.47	PX	P10 Inc	Pair Corr
0.36	BN	Brookfield Corp	Pair Corr
0.51	RC	Ready Capital Corp	Pair Corr
0.51	SF	Stifel Financial	Pair Corr
0.49	VRTS	Virtus Investment	Pair Corr
0.43	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.38	RM	Regional Management Corp Normal Trading	Pair Corr
0.32	WT	WisdomTree	Pair Corr
0.31	EARN	Ellington Residential Potential Growth	Pair Corr

Related Correlations Analysis

	TMCI	DWWEF	ALVO	MGPI	SNDA	BDN	MMSI	FIZZ
TMCI		0.0	0.06	-0.57	0.57	-0.19	0.87	-0.67	TMCI
DWWEF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	DWWEF
ALVO	0.06	0.0		0.3	-0.4	0.62	0.1	0.21	ALVO
MGPI	-0.57	0.0	0.3		-0.29	0.8	-0.3	0.91	MGPI
SNDA	0.57	0.0	-0.4	-0.29		-0.26	0.6	-0.44	SNDA
BDN	-0.19	0.0	0.62	0.8	-0.26		0.03	0.64	BDN
MMSI	0.87	0.0	0.1	-0.3	0.6	0.03		-0.43	MMSI
FIZZ	-0.67	0.0	0.21	0.91	-0.44	0.64	-0.43		FIZZ
	TMCI	DWWEF	ALVO	MGPI	SNDA	BDN	MMSI	FIZZ

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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

FIZZ	+ 0.91	MGPI
MMSI	+ 0.87	TMCI
BDN	+ 0.8	MGPI
FIZZ	+ 0.64	BDN
BDN	+ 0.62	ALVO
MMSI	+ 0.6	SNDA

High negative correlations

FIZZ	- 0.67	TMCI
MGPI	- 0.57	TMCI
FIZZ	- 0.44	SNDA
FIZZ	- 0.43	MMSI
SNDA	- 0.4	ALVO
MMSI	- 0.3	MGPI

Risk-Adjusted Indicators

There is a big difference between Wells Stock performing well and Wells Fargo Company 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
TMCI	2.73	0.27	0.08	0.12	2.64	(3.28)	8.14	(4.19)	20.40
DWWEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALVO	1.53	0.01	0.03	(0.02)	2.18	(1.45)	4.44	(3.16)	11.96
MGPI	1.78	(0.58)	0.00	(0.99)	0.00	0.00	3.24	(4.39)	12.11
SNDA	1.96	0.10	0.03	0.00	2.33	(2.10)	3.73	(3.93)	9.66
BDN	1.64	(0.17)	0.00	(0.25)	0.00	0.00	2.64	(4.27)	10.62
MMSI	1.24	0.02	0.00	(0.05)	0.00	0.00	2.91	(2.72)	7.42
FIZZ	1.09	(0.27)	0.00	1.29	0.00	0.00	2.10	(2.23)	7.80

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