Wells Fargo Correlations

WSICX Fund  USD 8.93  0.01  0.11%   
The current 90-days correlation between Wells Fargo Strategic and Wells Fargo Advantage is 0.69 (i.e., Poor 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 Strategic and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Strategic 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 Strategic. 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 main economic indicators.
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

  0.89DHICX Wells Fargo AdvantagePairCorr
  0.92VMPYX Wells Fargo AdvantagePairCorr
  0.92VMPAX Wells Fargo AdvantagePairCorr
  0.89SADAX Wells Fargo UltraPairCorr
  0.88SADIX Wells Fargo UltraPairCorr
  0.81EMGYX Wells Fargo EmergingPairCorr
  0.81EMGNX Wells Fargo EmergingPairCorr
  0.8EMGCX Wells Fargo EmergingPairCorr
  0.81EMGAX Wells Fargo EmergingPairCorr
  0.95SSHIX Wells Fargo ShortPairCorr
  0.92WABIX Wells Fargo AdvantagePairCorr
  0.91SSTHX Wells Fargo ShortPairCorr
  0.96SSTVX Wells Fargo ShortPairCorr
  0.95WSBIX Short Term MunicipalPairCorr
  0.92WARAX Wells Fargo AdvantagePairCorr
  0.92WARDX Wells Fargo AdvantagePairCorr
  0.91WARCX Wells Fargo AdvantagePairCorr
  0.91WSGIX Wells Fargo ShortPairCorr
  1.0WSIAX Wells Fargo StrategicPairCorr
  1.0WSIDX Wells Fargo StrategicPairCorr
  1.0WSINX Wells Fargo StrategicPairCorr
  0.96WSMAX Short Term MunicipalPairCorr
  0.96WSSCX Short Term MunicipalPairCorr
  0.96WSTMX Short Term MunicipalPairCorr
  0.93STRIX Wells Fargo AdvantagePairCorr
  0.97STYAX Wells Fargo IncomePairCorr
  0.91STYIX Wells Fargo ShortPairCorr
  0.66SCTAX California Tax FreePairCorr

Moving against Wells Mutual Fund

  0.59WSCGX Small Pany GrowthPairCorr
  0.55WSCOX Wells Fargo AdvantagePairCorr
  0.62STSAX Wells Fargo MonPairCorr
  0.52WSMCX Small Pany GrowthPairCorr
  0.51STOFX Wells Fargo LargePairCorr
  0.5STAFX Wells Fargo LargePairCorr
  0.5STDFX Wells Fargo LargePairCorr
  0.5STNFX Wells Fargo LargePairCorr
  0.61SCNSX Wells Fargo MonPairCorr
  0.61SCSDX Wells Fargo MonPairCorr
  0.61SCSAX Wells Fargo MonPairCorr
  0.48SCVIX Small Pany ValuePairCorr
  0.48SCVFX Small Pany ValuePairCorr
  0.47SCVAX Small Pany ValuePairCorr

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.