Index Fund Correlations

WFINX Fund

USD 51.49 0.11 0.21%

The current 90-days correlation between Index Fund Class and Touchstone Sands Capital is 0.17 (i.e., Average 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 -0.04 (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

0.87	WSCGX	Small Pany Growth	Pair Corr
0.89	WSCOX	Wells Fargo Advantage	Pair Corr
0.97	STAFX	Wells Fargo Large	Pair Corr
0.91	STDFX	Wells Fargo Large	Pair Corr
0.87	WSMCX	Small Pany Growth	Pair Corr
0.91	STOFX	Wells Fargo Large	Pair Corr
0.91	STNFX	Wells Fargo Large	Pair Corr
0.89	STSAX	Wells Fargo Mon	Pair Corr
0.9	SCNSX	Wells Fargo Mon	Pair Corr
0.86	SCSDX	Wells Fargo Mon	Pair Corr

Moving against Index Mutual Fund

0.51	SADIX	Wells Fargo Ultra	Pair Corr
0.38	VMPAX	Wells Fargo Advantage	Pair Corr
0.35	SSTVX	Wells Fargo Short	Pair Corr
0.33	SSHIX	Wells Fargo Short	Pair Corr
0.64	WSGIX	Wells Fargo Short	Pair Corr
0.44	WSMAX	Short Term Municipal	Pair Corr
0.44	WSTMX	Short Term Municipal	Pair Corr
0.4	WSIAX	Wells Fargo Strategic	Pair Corr
0.37	WSIDX	Wells Fargo Strategic	Pair Corr
0.35	WSSCX	Short Term Municipal	Pair Corr
0.34	WSICX	Wells Fargo Strategic	Pair Corr
0.65	MNSGX	Wells Fargo Short	Pair Corr
0.5	STYAX	Wells Fargo Income	Pair Corr
0.47	MNTRX	Total Return Bond	Pair Corr
0.42	SCTIX	California Limited Term	Pair Corr

Related Correlations Analysis

	TSEMX	LOGBX	FGFAX	PIEFX	SHDAX	OWSBX
TSEMX		0.74	0.66	0.77	0.49	0.31	TSEMX
LOGBX	0.74		0.74	0.7	0.67	0.55	LOGBX
FGFAX	0.66	0.74		0.88	0.9	0.77	FGFAX
PIEFX	0.77	0.7	0.88		0.76	0.58	PIEFX
SHDAX	0.49	0.67	0.9	0.76		0.89	SHDAX
OWSBX	0.31	0.55	0.77	0.58	0.89		OWSBX
	TSEMX	LOGBX	FGFAX	PIEFX	SHDAX	OWSBX

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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
TSEMX	0.86	0.00	0.06	(0.07)	1.10	(0.89)	1.63	(1.38)	5.97
LOGBX	0.51	0.01	0.00	(0.06)	0.00	0.00	0.83	(1.17)	4.19
FGFAX	0.79	0.11	0.18	(1.06)	0.96	(0.86)	1.79	(1.64)	5.93
PIEFX	0.98	0.11	0.11	0.17	1.24	(0.99)	2.06	(2.04)	6.94
SHDAX	0.06	0.00	0.33	(0.13)	0.00	(0.20)	0.20	(0.20)	0.40
OWSBX	0.08	(0.01)	0.25	0.10	0.13	(0.13)	0.20	(0.10)	1.18

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