Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Government
WGSDX Fund  USD 9.78  0.02  0.20%   
The current 90-days correlation between Wells Fargo Government and Tax Free Conservative Income is 0.06 (i.e., Significant 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

Modest diversification

The correlation between Wells Fargo Government and DJI is 0.2 (i.e., Modest 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
  0.84VMPYX Wells Fargo AdvantagePairCorr
  0.84VMPAX Wells Fargo AdvantagePairCorr
  0.65EMGYX Wells Fargo EmergingPairCorr
  0.65EMGNX Wells Fargo EmergingPairCorr
  0.66EMGCX Wells Fargo EmergingPairCorr
  0.65EMGAX Wells Fargo EmergingPairCorr
  0.88WABIX Wells Fargo AdvantagePairCorr
  0.71WSBIX Short Term MunicipalPairCorr
  0.88WARAX Wells Fargo AdvantagePairCorr
  0.88WARDX Wells Fargo AdvantagePairCorr
  0.89WARCX Wells Fargo AdvantagePairCorr
  0.74WSIAX Wells Fargo StrategicPairCorr
  0.68WSIDX Wells Fargo StrategicPairCorr
  0.79WSICX Wells Fargo StrategicPairCorr
  0.66WSINX Wells Fargo StrategicPairCorr
  0.72WSMAX Short Term MunicipalPairCorr
  0.75WSSCX Short Term MunicipalPairCorr
  0.71WSTMX Short Term MunicipalPairCorr
  0.84STRIX Wells Fargo AdvantagePairCorr
  0.99STYAX Wells Fargo IncomePairCorr
  0.86SCTAX California Tax FreePairCorr
  0.82SCTCX California Tax FreePairCorr

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   
JDJRX
+ 0.91
TFCAX
GPICX
+ 0.91
JDJRX
MNDWX
+ 0.91
CAARX
GPICX
+ 0.89
TFCAX
SRDAX
+ 0.71
TFCAX
SRDAX
+ 0.67
JDJRX
  
High negative correlations   
MNDWX
- 0.34
SRDAX
CAARX
- 0.24
SRDAX

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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