Wells Fargo Correlations

EAAFX Fund

USD 14.43 0.10 0.70%

The current 90-days correlation between Wells Fargo Advantage and John Hancock Financial is 0.23 (i.e., Modest 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

Weak diversification

The correlation between Wells Fargo Advantage and DJI is 0.35 (i.e., Weak 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 Investing Opportunities 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 census.

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

0.69	EMGYX	Wells Fargo Emerging	Pair Corr
0.69	EMGCX	Wells Fargo Emerging	Pair Corr
0.66	WABIX	Wells Fargo Advantage	Pair Corr
0.98	WSCGX	Small Pany Growth	Pair Corr
0.89	WSCOX	Wells Fargo Advantage	Pair Corr
0.68	WARAX	Wells Fargo Advantage	Pair Corr
0.64	WARDX	Wells Fargo Advantage	Pair Corr
0.67	WARCX	Wells Fargo Advantage	Pair Corr
0.93	STAFX	Wells Fargo Large	Pair Corr
0.76	STDFX	Wells Fargo Large	Pair Corr
0.98	WSMCX	Small Pany Growth	Pair Corr
0.92	STOFX	Wells Fargo Large	Pair Corr
0.93	STNFX	Wells Fargo Large	Pair Corr
0.93	STSAX	Wells Fargo Mon	Pair Corr
0.8	STYAX	Wells Fargo Income	Pair Corr
0.91	SCNSX	Wells Fargo Mon	Pair Corr
0.62	SCTAX	California Tax Free	Pair Corr
0.66	SCTCX	California Tax Free	Pair Corr
0.83	SCSDX	Wells Fargo Mon	Pair Corr

Moving against Wells Mutual Fund

0.57	SADAX	Wells Fargo Ultra	Pair Corr
0.57	SADIX	Wells Fargo Ultra	Pair Corr
0.43	SSHIX	Wells Fargo Short	Pair Corr
0.31	SSTVX	Wells Fargo Short	Pair Corr
0.42	WSGIX	Wells Fargo Short	Pair Corr
0.35	MNSGX	Wells Fargo Short	Pair Corr

Related Correlations Analysis

	BTO	MSVIX	MCBXX	SBFAX	ICFAX	VFAIX
BTO		0.56	0.0	0.62	0.09	0.96	BTO
MSVIX	0.56		0.0	0.85	0.66	0.4	MSVIX
MCBXX	0.0	0.0		0.0	0.0	0.0	MCBXX
SBFAX	0.62	0.85	0.0		0.69	0.53	SBFAX
ICFAX	0.09	0.66	0.0	0.69		0.02	ICFAX
VFAIX	0.96	0.4	0.0	0.53	0.02		VFAIX
	BTO	MSVIX	MCBXX	SBFAX	ICFAX	VFAIX

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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

VFAIX	+ 0.96	BTO
SBFAX	+ 0.85	MSVIX
ICFAX	+ 0.69	SBFAX
ICFAX	+ 0.66	MSVIX
SBFAX	+ 0.62	BTO
MSVIX	+ 0.56	BTO

High negative correlations

VFAIX	- 0.0	MCBXX
ICFAX	- 0.0	MCBXX
SBFAX	- 0.0	MCBXX
MCBXX	- 0.0	MSVIX
MCBXX	- 0.0	BTO

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BTO	1.13	0.15	0.09	0.29	1.26	(1.25)	2.32	(1.91)	13.54
MSVIX	0.87	(0.09)	0.00	(0.04)	0.00	0.00	1.64	(1.42)	15.14
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBFAX	0.93	(0.08)	0.00	(0.20)	0.00	0.00	1.73	(1.85)	15.92
ICFAX	0.92	(0.17)	0.00	(0.22)	0.00	0.00	1.43	(2.10)	18.69
VFAIX	0.82	0.12	0.09	0.37	0.92	(0.89)	1.46	(1.49)	10.22

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