Wells Fargo Correlations

WSSRX Fund

USD 9.70 0.01 0.10%

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

Significant diversification

The correlation between Wells Fargo Short Term and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Short Term 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 Short Term. 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 metropolitan statistical area.

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

0.97	VMPRX	Wells Fargo Strategic	Pair Corr
0.74	EMGDX	Wells Fargo Emerging	Pair Corr
0.88	WRPIX	Wells Fargo Alternative	Pair Corr
0.89	WRPRX	Wells Fargo Alternative	Pair Corr
0.94	SSTYX	Wells Fargo Short	Pair Corr
0.86	WARRX	Wells Fargo Advantage	Pair Corr
0.92	STYJX	Wells Fargo Core	Pair Corr
0.93	WTRIX	Wells Fargo Advantage	Pair Corr
0.96	WUSRX	Wells Fargo Ultra	Pair Corr
0.63	EQIRX	Wells Fargo Emerging	Pair Corr
0.87	WFCMX	Wells Fargo Fds	Pair Corr
0.9	WFEHX	Wells Fargo International	Pair Corr
0.94	WFRTX	Wells Fargo Intermediate	Pair Corr
0.94	MSDRX	Wells Fargo Short	Pair Corr
0.88	WICRX	Allspring Special	Pair Corr
0.79	WMBRX	Wells Fargo Municipal	Pair Corr
0.91	EKHRX	Wells Fargo High	Pair Corr
0.79	EKSRX	Wells Fargo Diversified	Pair Corr
1.0	VMLTX	Vanguard Limited Term	Pair Corr

Moving against Wells Mutual Fund

0.65	WSCRX	Wells Fargo Advantage	Pair Corr
0.65	SCSRX	Wells Fargo Mon	Pair Corr
0.65	WEGRX	Allspring Emerging Growth	Pair Corr
0.59	WSCJX	Wells Fargo Small	Pair Corr
0.58	WFDRX	Wells Fargo Discovery	Pair Corr
0.56	WDSAX	Allspring Disciplined	Pair Corr
0.54	STFFX	Wells Fargo Large	Pair Corr
0.54	SCVJX	Wells Fargo Small	Pair Corr
0.47	WENRX	Wells Fargo Enterprise	Pair Corr
0.38	WFPRX	Wells Fargo Special	Pair Corr
0.62	ESPRX	Wells Fargo Advantage	Pair Corr
0.57	SGRHX	Wells Fargo Growth	Pair Corr
0.54	EKJFX	Wells Fargo Premier	Pair Corr
0.42	EVSRX	Wells Fargo Disciplined	Pair Corr
0.41	VTSAX	Vanguard Total Stock	Pair Corr
0.41	VTSMX	Vanguard Total Stock	Pair Corr
0.41	VITSX	Vanguard Total Stock	Pair Corr
0.38	VFIAX	Vanguard 500 Index	Pair Corr
0.37	VSMPX	Vanguard Total Stock	Pair Corr
0.37	VSTSX	Vanguard Total Stock	Pair Corr
0.34	EGORX	Wells Fargo Large	Pair Corr

Related Correlations Analysis

	JHMXX	HEWXX	MODXX	SBFAX	SMAAX	JRSXX
JHMXX		0.0	0.0	0.0	0.0	0.0	JHMXX
HEWXX	0.0		0.0	0.0	0.0	0.0	HEWXX
MODXX	0.0	0.0		0.0	0.0	0.0	MODXX
SBFAX	0.0	0.0	0.0		0.46	0.0	SBFAX
SMAAX	0.0	0.0	0.0	0.46		0.0	SMAAX
JRSXX	0.0	0.0	0.0	0.0	0.0		JRSXX
	JHMXX	HEWXX	MODXX	SBFAX	SMAAX	JRSXX

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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

SMAAX	+ 0.46	SBFAX
HEWXX	+ 0.0	JHMXX
MODXX	+ 0.0	JHMXX
SBFAX	+ 0.0	JHMXX
SMAAX	+ 0.0	JHMXX
JRSXX	+ 0.0	JHMXX

High negative correlations

JRSXX	- 0.0	SMAAX
JRSXX	- 0.0	SBFAX
JRSXX	- 0.0	MODXX
SMAAX	- 0.0	MODXX
SBFAX	- 0.0	MODXX
JRSXX	- 0.0	HEWXX

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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
JHMXX	0.00	0.00	0.00	0.00	0.00	0.00
HEWXX	0.00	0.00	0.00	0.00	0.00	0.00
MODXX	0.00	0.00	0.00	0.00	0.00	0.00
SBFAX	0.79	0.01	(0.02)	1.69	(1.92)	5.22
SMAAX	0.13	(0.02)	(0.99)	0.20	(0.39)	0.90
JRSXX	0.00	0.00	0.00	0.00	0.00	0.00

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