Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Advantage
WGLSX Fund  USD 13.82  0.20  1.47%   
The current 90-days correlation between Wells Fargo Advantage and Ultraemerging Markets Profund is 0.3 (i.e., Weak 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

Poor diversification

The correlation between Wells Fargo Advantage and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Advantage 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 Advantage. 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 state.
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

  0.93WAAEX Wasatch Small CapPairCorr
  0.66WAEMX Wasatch Emerging MarketsPairCorr
  0.66WAGSX Wasatch Global SelectPairCorr
  0.92WAGOX Wasatch Global OpporPairCorr
  0.93WAMVX Wasatch Micro CapPairCorr
  1.0WALSX Wasatch Longshort AlphaPairCorr
  0.94WAMCX Wasatch Ultra GrowthPairCorr
  0.93WAUSX Wasatch Select InvestorPairCorr
  0.88WGICX Wasatch Micro CapPairCorr
  0.94WGMCX Wasatch Ultra GrowthPairCorr
  0.9WGMVX Wasatch Micro CapPairCorr
  0.96WGROX Wasatch E GrowthPairCorr
  0.93WIAEX Wasatch Small CapPairCorr
  0.96WICVX Wasatch Small CapPairCorr
  0.67WIEMX Wasatch Emerging MarketsPairCorr
  0.96WIGRX Wasatch E GrowthPairCorr
  0.92WIGOX Wasatch Global OpporPairCorr
  0.96WMCVX Wasatch Small CapPairCorr
  0.9WMICX Wasatch Micro CapPairCorr
  0.63NLSCX Neuberger Berman LongPairCorr

Moving against Wells Mutual Fund

  0.43WHOSX Wasatch HoisingtonPairCorr
  0.4WAIVX Wasatch InternationalPairCorr
  0.62PWLMX Pimco Rae WorldwidePairCorr
  0.58PWLIX Pimco Rae WorldwidePairCorr
  0.48WILCX Wasatch Large CapPairCorr
  0.47FMIEX Wasatch Large CapPairCorr
  0.4QLERX Aqr Long ShortPairCorr

Related Correlations Analysis

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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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