Wells Fargo Correlations

WFEIX Fund  USD 52.98  1.66  3.23%   
The current 90-days correlation between Wells Fargo Enterprise and Wells Fargo Advantage is 0.17 (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

Very weak diversification

The correlation between Wells Fargo Enterprise and DJI is 0.5 (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 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

  0.87STOFX Wells Fargo LargePairCorr
  0.81STSAX Wells Fargo MonPairCorr
  0.88SCNSX Wells Fargo MonPairCorr

Moving against Wells Mutual Fund

  0.51SSTVX Wells Fargo ShortPairCorr
  0.34WSBIX Short Term MunicipalPairCorr
  0.57WSGIX Wells Fargo ShortPairCorr
  0.34WSIAX Wells Fargo StrategicPairCorr
  0.34WSIDX Wells Fargo StrategicPairCorr
  0.34WSTMX Short Term MunicipalPairCorr
  0.33WSINX Wells Fargo StrategicPairCorr
  0.58MNSGX Wells Fargo ShortPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHICX  0.11 (0.01) 0.00 (0.48) 0.00 
 0.23 
 0.68 
VMPYX  0.11  0.00  0.43 (0.31) 0.13 
 0.23 
 0.68 
VMPAX  0.10 (0.01) 0.43 (0.41) 0.14 
 0.23 
 0.57 
SADAX  0.06  0.01  0.96  2.13  0.00 
 0.11 
 0.57 
SADIX  0.05  0.01  0.00  3.93  0.00 
 0.11 
 0.57 
EMGYX  0.83  0.04  0.11  1.01  1.13 
 1.45 
 6.50 
EMGNX  0.83  0.04  0.12  1.03  1.11 
 1.48 
 6.51 
EMGCX  0.85  0.01  0.09  0.33  1.17 
 1.43 
 6.45 
EMGAX  0.83  0.04  0.11  1.01  1.11 
 1.46 
 6.54 
SSHIX  0.06  0.02  0.80  0.42  0.00 
 0.12 
 0.35