Index Fund Correlations

WFINX Fund

USD 53.17 0.95 1.76%

The current 90-days correlation between Index Fund Class and Wells Fargo Advantage is 0.24 (i.e., Modest diversification). The correlation of Index Fund 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.

Index Fund Correlation With Market

Good diversification

The correlation between Index Fund Class and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Index Fund Class 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 Index Fund Class. 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 board of governors.

Moving together with INDEX Mutual Fund

0.89	WSCGX	Small Pany Growth	Pair Corr
0.87	WSCOX	Wells Fargo Advantage	Pair Corr
0.92	STAFX	Wells Fargo Large	Pair Corr
0.92	STDFX	Wells Fargo Large	Pair Corr
0.9	WSMCX	Small Pany Growth	Pair Corr
0.91	STOFX	Wells Fargo Large	Pair Corr
0.92	STNFX	Wells Fargo Large	Pair Corr
0.94	STSAX	Wells Fargo Mon	Pair Corr
0.88	SCNSX	Wells Fargo Mon	Pair Corr
0.74	SCTAX	California Tax Free	Pair Corr
0.77	SCTCX	California Tax Free	Pair Corr
0.88	SCSDX	Wells Fargo Mon	Pair Corr

Moving against INDEX Mutual Fund

0.49	SADIX	Wells Fargo Ultra	Pair Corr
0.48	SADAX	Wells Fargo Ultra	Pair Corr
0.31	SSHIX	Wells Fargo Short	Pair Corr
0.32	WSGIX	Wells Fargo Short	Pair Corr
0.33	MNSGX	Wells Fargo Short	Pair Corr

Related Correlations Analysis

	DHICX	VMPYX	VMPAX	SADAX	SADIX	EMGYX	EMGNX	EMGCX	EMGAX	SSHIX
DHICX		0.97	0.98	0.17	0.14	0.64	0.64	0.65	0.64	0.31	DHICX
VMPYX	0.97		0.99	0.35	0.32	0.67	0.67	0.67	0.67	0.47	VMPYX
VMPAX	0.98	0.99		0.33	0.3	0.69	0.69	0.69	0.69	0.45	VMPAX
SADAX	0.17	0.35	0.33		0.99	0.36	0.37	0.34	0.36	0.95	SADAX
SADIX	0.14	0.32	0.3	0.99		0.35	0.35	0.32	0.35	0.94	SADIX
EMGYX	0.64	0.67	0.69	0.36	0.35		1.0	1.0	1.0	0.52	EMGYX
EMGNX	0.64	0.67	0.69	0.37	0.35	1.0		1.0	1.0	0.52	EMGNX
EMGCX	0.65	0.67	0.69	0.34	0.32	1.0	1.0		1.0	0.49	EMGCX
EMGAX	0.64	0.67	0.69	0.36	0.35	1.0	1.0	1.0		0.51	EMGAX
SSHIX	0.31	0.47	0.45	0.95	0.94	0.52	0.52	0.49	0.51		SSHIX
	DHICX	VMPYX	VMPAX	SADAX	SADIX	EMGYX	EMGNX	EMGCX	EMGAX	SSHIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between INDEX Mutual Fund performing well and Index Fund 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 Index Fund'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
DHICX	0.10	0.00	0.27	(0.12)	0.09	(0.14)	0.23	(0.23)	0.79
VMPYX	0.10	0.00	0.28	(0.19)	0.05	(0.15)	0.23	(0.23)	0.80
VMPAX	0.11	0.00	0.25	(0.35)	0.09	(0.15)	0.23	(0.23)	0.91
SADAX	0.06	0.01	0.59	(0.51)	0.00	(0.18)	0.11	(0.11)	0.57
SADIX	0.05	0.01	0.00	(0.67)	0.00	0.00	0.11	(0.11)	0.57
EMGYX	0.68	0.01	0.00	(0.04)	0.00	0.00	1.43	(1.78)	3.90
EMGNX	0.68	0.01	0.00	(0.04)	0.00	0.00	1.43	(1.78)	3.86
EMGCX	0.68	0.00	0.00	(0.05)	0.00	0.00	1.40	(1.79)	3.81
EMGAX	0.68	0.01	0.00	(0.04)	0.00	0.00	1.40	(1.80)	3.90
SSHIX	0.07	0.01	0.39	(0.59)	0.00	(0.14)	0.23	(0.12)	0.59

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC