Wells Fargo Correlations

Mutual Funds USA . 
Fund . Wells Fargo Special
WFPAX Fund  USD 47.05  0.46  0.97%   
The current 90-days correlation between Wells Fargo Special and Great West Goldman Sachs is 0.22 (i.e., Modest 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

Weak diversification

The correlation between Wells Fargo Special and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Special 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 Special. 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 nation.
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

  0.64EMGYX Wells Fargo EmergingPairCorr
  0.64EMGNX Wells Fargo EmergingPairCorr
  0.64EMGCX Wells Fargo EmergingPairCorr
  0.64EMGAX Wells Fargo EmergingPairCorr
  0.95WSCGX Small Pany GrowthPairCorr
  0.91WSCOX Wells Fargo AdvantagePairCorr
  0.97STAFX Wells Fargo LargePairCorr
  0.97STDFX Wells Fargo LargePairCorr
  0.96WSMCX Small Pany GrowthPairCorr
  0.98STOFX Wells Fargo LargePairCorr
  0.97STNFX Wells Fargo LargePairCorr
  0.99STSAX Wells Fargo MonPairCorr
  0.72STYAX Wells Fargo IncomePairCorr
  0.94SCNSX Wells Fargo MonPairCorr
  0.68SCSDX Wells Fargo MonPairCorr

Moving against Wells Mutual Fund

  0.68SADAX Wells Fargo UltraPairCorr
  0.67SADIX Wells Fargo UltraPairCorr
  0.57SSHIX Wells Fargo ShortPairCorr
  0.53SSTVX Wells Fargo ShortPairCorr
  0.34SSTHX Wells Fargo ShortPairCorr
  0.57WSGIX Wells Fargo ShortPairCorr
  0.5MNSGX Wells Fargo ShortPairCorr
  0.37STYIX Wells Fargo ShortPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
UIPMX
+ 0.99
IIGCX
UNWPX
+ 0.92
IIGCX
UIPMX
+ 0.9
UNWPX
UIPMX
+ 0.54
VGSBX
VGSBX
+ 0.51
IIGCX
SPPIX
+ 0.33
MXKJX
  
High negative correlations   
UIPMX
- 0.96
SPPIX
IIGCX
- 0.95
SPPIX
UNWPX
- 0.84
SPPIX
VGSBX
- 0.55
SPPIX
UNWPX
- 0.45
MXKJX
IIGCX
- 0.35
MXKJX

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.

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