Wells Fargo Correlations

WFLLX Fund  USD 21.14  0.18  0.86%   
The current 90-days correlation between Wells Fargo Large and Wells Fargo Large is 1.0 (i.e., No risk reduction). 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 poor diversification

The correlation between Wells Fargo Large and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Large 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 Large. 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 bureau of economic analysis.
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

  0.91SADAX Wells Fargo UltraPairCorr
  0.93SADIX Wells Fargo UltraPairCorr
  0.89SSTHX Wells Fargo ShortPairCorr
  0.87WSCGX Small Pany GrowthPairCorr
  0.93WSCOX Wells Fargo AdvantagePairCorr
  0.98STAFX Wells Fargo LargePairCorr
  0.98STDFX Wells Fargo LargePairCorr
  0.89WSMCX Small Pany GrowthPairCorr
  0.97STOFX Wells Fargo LargePairCorr
  0.98STNFX Wells Fargo LargePairCorr
  0.91STSAX Wells Fargo MonPairCorr
  0.89STYIX Wells Fargo ShortPairCorr
  0.89SCNSX Wells Fargo MonPairCorr
  0.89SCSDX Wells Fargo MonPairCorr

Moving against Wells Mutual Fund

  0.38SSTVX Wells Fargo ShortPairCorr
  0.32WSGIX Wells Fargo ShortPairCorr
  0.65STYAX Wells Fargo IncomePairCorr
  0.65MNSGX Wells Fargo ShortPairCorr
  0.65MNTRX Total Return BondPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.