Wells Fargo Correlations

EMGDX Fund

USD 26.81 0.01 0.04%

The current 90-days correlation between Wells Fargo Emerging and Rbc Microcap Value is -0.06 (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

Good diversification

The correlation between Wells Fargo Emerging and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Emerging 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 Emerging. 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

0.66	WARRX	Wells Fargo Advantage	Pair Corr
0.91	EQIRX	Wells Fargo Emerging	Pair Corr
0.61	EKSRX	Wells Fargo Diversified	Pair Corr
0.91	VEMAX	Vanguard Emerging Markets	Pair Corr
0.91	VEIEX	Vanguard Emerging Markets	Pair Corr

Moving against Wells Mutual Fund

0.42	WRPIX	Wells Fargo Alternative	Pair Corr
0.42	WRPRX	Wells Fargo Alternative	Pair Corr

Related Correlations Analysis

	TMVAX	ROGSX	FALCX	XMHFX	VOLMX	FFCGX	WRLDX
TMVAX		0.65	0.0	-0.64	0.91	0.63	0.74	TMVAX
ROGSX	0.65		0.0	-0.53	0.85	0.96	0.77	ROGSX
FALCX	0.0	0.0		0.0	0.0	0.0	0.0	FALCX
XMHFX	-0.64	-0.53	0.0		-0.75	-0.44	-0.3	XMHFX
VOLMX	0.91	0.85	0.0	-0.75		0.8	0.75	VOLMX
FFCGX	0.63	0.96	0.0	-0.44	0.8		0.86	FFCGX
WRLDX	0.74	0.77	0.0	-0.3	0.75	0.86		WRLDX
	TMVAX	ROGSX	FALCX	XMHFX	VOLMX	FFCGX	WRLDX

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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

FFCGX	+ 0.96	ROGSX
VOLMX	+ 0.91	TMVAX
WRLDX	+ 0.86	FFCGX
VOLMX	+ 0.85	ROGSX
FFCGX	+ 0.8	VOLMX
WRLDX	+ 0.77	ROGSX

High negative correlations

VOLMX	- 0.75	XMHFX
XMHFX	- 0.64	TMVAX
XMHFX	- 0.53	ROGSX
FFCGX	- 0.44	XMHFX
WRLDX	- 0.3	XMHFX
WRLDX	- 0.0	FALCX

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
TMVAX	0.91	0.03	0.06	0.15	0.75	(1.15)	2.29	(1.70)	8.08
ROGSX	0.87	(0.09)	(0.05)	0.04	1.35	(0.85)	1.70	(2.51)	5.59
FALCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XMHFX	0.17	(0.02)	0.00	0.36	0.00	0.00	0.28	(0.41)	1.52
VOLMX	0.60	0.00	(0.01)	0.12	0.57	(0.71)	1.14	(1.35)	4.49
FFCGX	0.59	(0.05)	(0.09)	0.06	0.70	(0.63)	1.27	(1.23)	3.68
WRLDX	0.49	(0.02)	(0.11)	0.09	0.45	(0.56)	0.92	(0.97)	2.75

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