Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Enterprise
WFEIX Fund  USD 52.98  1.66  3.23%   
The current 90-days correlation between Wells Fargo Enterprise and Ep Emerging Markets is -0.02 (i.e., Good 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

Significant diversification

The correlation between Wells Fargo Enterprise and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Enterprise 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 Enterprise. 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.
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

  0.94WSCGX Small Pany GrowthPairCorr
  0.95WSCOX Wells Fargo AdvantagePairCorr
  0.98STAFX Wells Fargo LargePairCorr
  0.98STDFX Wells Fargo LargePairCorr
  0.94WSMCX Small Pany GrowthPairCorr
  0.98STOFX Wells Fargo LargePairCorr
  0.98STNFX Wells Fargo LargePairCorr
  0.91STSAX Wells Fargo MonPairCorr
  0.91SCNSX Wells Fargo MonPairCorr
  0.91SCSDX Wells Fargo MonPairCorr

Moving against Wells Mutual Fund

  0.51SSTVX Wells Fargo ShortPairCorr
  0.49VMPAX Wells Fargo AdvantagePairCorr
  0.47VMPYX Wells Fargo AdvantagePairCorr
  0.47SADAX Wells Fargo UltraPairCorr
  0.45DHICX Wells Fargo AdvantagePairCorr
  0.42SADIX Wells Fargo UltraPairCorr
  0.4WSBIX Short Term MunicipalPairCorr
  0.34SSHIX Wells Fargo ShortPairCorr
  0.6WSGIX Wells Fargo ShortPairCorr
  0.4WSTMX Short Term MunicipalPairCorr
  0.39WSMAX Short Term MunicipalPairCorr
  0.38WSIAX Wells Fargo StrategicPairCorr
  0.38WSINX Wells Fargo StrategicPairCorr
  0.37WSIDX Wells Fargo StrategicPairCorr
  0.35WSICX Wells Fargo StrategicPairCorr
  0.35WSSCX Short Term MunicipalPairCorr
  0.35STRIX Wells Fargo AdvantagePairCorr
  0.61MNTRX Total Return BondPairCorr
  0.59MNSGX Wells Fargo ShortPairCorr
  0.5STYAX Wells Fargo IncomePairCorr
  0.42WCAFX Wealthbuilder ConservativePairCorr
  0.4SCTIX California Limited TermPairCorr

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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