Wells Fargo Correlations

WGSDX Fund  USD 9.73  0.01  0.10%   
The current 90-days correlation between Wells Fargo Government and Mid Cap Growth is -0.04 (i.e., Good 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

Average diversification

The correlation between Wells Fargo Government and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Government 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 Government. 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 unemployment.
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

  0.84DHICX Wells Fargo AdvantagePairCorr
  0.89VMPYX Wells Fargo AdvantagePairCorr
  0.89VMPAX Wells Fargo AdvantagePairCorr
  0.87SADAX Wells Fargo UltraPairCorr
  0.84SADIX Wells Fargo UltraPairCorr
  0.72EMGYX Wells Fargo EmergingPairCorr
  0.72EMGNX Wells Fargo EmergingPairCorr
  0.71EMGCX Wells Fargo EmergingPairCorr
  0.72EMGAX Wells Fargo EmergingPairCorr
  0.93SSHIX Wells Fargo ShortPairCorr
  0.84WABIX Wells Fargo AdvantagePairCorr
  0.81SSTHX Wells Fargo ShortPairCorr
  0.95SSTVX Wells Fargo ShortPairCorr
  0.92WSBIX Short Term MunicipalPairCorr
  0.83WARAX Wells Fargo AdvantagePairCorr
  0.83WARDX Wells Fargo AdvantagePairCorr
  0.82WARCX Wells Fargo AdvantagePairCorr
  0.93WSGIX Wells Fargo ShortPairCorr
  0.95WSIAX Wells Fargo StrategicPairCorr
  0.94WSIDX Wells Fargo StrategicPairCorr
  0.94WSICX Wells Fargo StrategicPairCorr
  0.95WSINX Wells Fargo StrategicPairCorr
  0.91WSMAX Short Term MunicipalPairCorr
  0.9WSSCX Short Term MunicipalPairCorr
  0.91WSTMX Short Term MunicipalPairCorr
  0.89STRIX Wells Fargo AdvantagePairCorr
  0.99STYAX Wells Fargo IncomePairCorr
  0.81STYIX Wells Fargo ShortPairCorr
  0.64SCTAX California Tax FreePairCorr

Moving against Wells Mutual Fund

  0.72WSCGX Small Pany GrowthPairCorr
  0.71WSCOX Wells Fargo AdvantagePairCorr
  0.75STSAX Wells Fargo MonPairCorr
  0.7STOFX Wells Fargo LargePairCorr
  0.69STAFX Wells Fargo LargePairCorr
  0.69STDFX Wells Fargo LargePairCorr
  0.69STNFX Wells Fargo LargePairCorr
  0.62WSMCX Small Pany GrowthPairCorr
  0.75SCSDX Wells Fargo MonPairCorr
  0.75SCSAX Wells Fargo MonPairCorr
  0.74SCNSX Wells Fargo MonPairCorr
  0.62SCVAX Small Pany ValuePairCorr
  0.62SCVIX Small Pany ValuePairCorr
  0.62SCVFX Small Pany ValuePairCorr

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   
BGGKXTEGAX
NEAIXTEGAX
NEAIXBGGKX
GGRYXVDIGX
GGRYXPIGDX
GGRYXBGGKX
  
High negative correlations   
NEAIXPIGDX
PIGDXTEGAX

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.