Wells Fargo Correlations

EMGNX Fund

USD 26.80 0.02 0.07%

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 Emerging and DJI is 0.3 (i.e., Weak 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 board of governors.

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

1.0	EMGYX	Wells Fargo Emerging	Pair Corr
0.95	EMGCX	Wells Fargo Emerging	Pair Corr
1.0	EMGAX	Wells Fargo Emerging	Pair Corr
0.66	WABIX	Wells Fargo Advantage	Pair Corr
0.66	WARAX	Wells Fargo Advantage	Pair Corr
0.66	WARDX	Wells Fargo Advantage	Pair Corr
0.65	WARCX	Wells Fargo Advantage	Pair Corr

Related Correlations Analysis

	DHICX	VMPYX	VMPAX	SADAX	SADIX	EMGYX	EMGNX	EMGCX	EMGAX	SSHIX
DHICX		0.97	0.98	0.15	0.13	0.44	0.44	0.39	0.44	0.65	DHICX
VMPYX	0.97		0.99	0.32	0.3	0.44	0.44	0.4	0.44	0.71	VMPYX
VMPAX	0.98	0.99		0.33	0.3	0.43	0.43	0.39	0.43	0.73	VMPAX
SADAX	0.15	0.32	0.33		0.99	0.35	0.36	0.36	0.35	0.51	SADAX
SADIX	0.13	0.3	0.3	0.99		0.38	0.39	0.39	0.38	0.45	SADIX
EMGYX	0.44	0.44	0.43	0.35	0.38		1.0	0.95	1.0	0.45	EMGYX
EMGNX	0.44	0.44	0.43	0.36	0.39	1.0		0.95	1.0	0.45	EMGNX
EMGCX	0.39	0.4	0.39	0.36	0.39	0.95	0.95		0.95	0.37	EMGCX
EMGAX	0.44	0.44	0.43	0.35	0.38	1.0	1.0	0.95		0.45	EMGAX
SSHIX	0.65	0.71	0.73	0.51	0.45	0.45	0.45	0.37	0.45		SSHIX
	DHICX	VMPYX	VMPAX	SADAX	SADIX	EMGYX	EMGNX	EMGCX	EMGAX	SSHIX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DHICX	0.08	(0.01)	(0.48)	(0.20)	0.11	(0.15)	0.22	(0.22)	0.79
VMPYX	0.09	(0.01)	(0.50)	(0.13)	0.09	(0.17)	0.23	(0.22)	0.79
VMPAX	0.09	0.00	(0.46)	(0.07)	0.09	(0.16)	0.23	(0.23)	0.79
SADAX	0.06	0.01	(0.92)	(0.67)	0.00	(0.17)	0.12	(0.11)	0.46
SADIX	0.06	0.01	(0.88)	(1.26)	0.00	(0.19)	0.11	(0.11)	0.57
EMGYX	0.65	(0.04)	(0.12)	0.00	0.99	(0.61)	1.28	(1.76)	5.15
EMGNX	0.65	(0.04)	(0.12)	0.00	1.00	(0.59)	1.23	(1.75)	5.20
EMGCX	0.65	0.00	0.00	0.12	0.00	0.00	1.27	(1.75)	5.16
EMGAX	0.65	(0.04)	(0.12)	0.00	0.98	(0.61)	1.28	(1.75)	5.16
SSHIX	0.09	0.00	(0.85)	(0.07)	0.00	(0.14)	0.23	(0.12)	0.59

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Wells Fargo Correlations

Wells Fargo Correlation With Market

Weak diversification

Moving together with Wells Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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