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.
INDEX |
Moving together with INDEX Mutual Fund
0.89 | WSCGX | Small Pany Growth | PairCorr |
0.87 | WSCOX | Wells Fargo Advantage | PairCorr |
0.92 | STAFX | Wells Fargo Large | PairCorr |
0.92 | STDFX | Wells Fargo Large | PairCorr |
0.9 | WSMCX | Small Pany Growth | PairCorr |
0.91 | STOFX | Wells Fargo Large | PairCorr |
0.92 | STNFX | Wells Fargo Large | PairCorr |
0.94 | STSAX | Wells Fargo Mon | PairCorr |
0.88 | SCNSX | Wells Fargo Mon | PairCorr |
0.74 | SCTAX | California Tax Free | PairCorr |
0.77 | SCTCX | California Tax Free | PairCorr |
0.88 | SCSDX | Wells Fargo Mon | PairCorr |
Moving against INDEX Mutual Fund
0.49 | SADIX | Wells Fargo Ultra | PairCorr |
0.48 | SADAX | Wells Fargo Ultra | PairCorr |
0.31 | SSHIX | Wells Fargo Short | PairCorr |
0.32 | WSGIX | Wells Fargo Short | PairCorr |
0.33 | MNSGX | Wells Fargo Short | PairCorr |
Related Correlations Analysis
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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 | 0.23 | 0.79 | |||
VMPYX | 0.10 | 0.00 | 0.28 | (0.19) | 0.05 | 0.23 | 0.80 | |||
VMPAX | 0.11 | 0.00 | 0.25 | (0.35) | 0.09 | 0.23 | 0.91 | |||
SADAX | 0.06 | 0.01 | 0.59 | (0.51) | 0.00 | 0.11 | 0.57 | |||
SADIX | 0.05 | 0.01 | 0.00 | (0.67) | 0.00 | 0.11 | 0.57 | |||
EMGYX | 0.68 | 0.01 | 0.00 | (0.04) | 0.00 | 1.43 | 3.90 | |||
EMGNX | 0.68 | 0.01 | 0.00 | (0.04) | 0.00 | 1.43 | 3.86 | |||
EMGCX | 0.68 | 0.00 | 0.00 | (0.05) | 0.00 | 1.40 | 3.81 | |||
EMGAX | 0.68 | 0.01 | 0.00 | (0.04) | 0.00 | 1.40 | 3.90 | |||
SSHIX | 0.07 | 0.01 | 0.39 | (0.59) | 0.00 | 0.23 | 0.59 |