Wells Fargo Correlations

ESPAX Fund

USD 41.59 3.95 8.67%

The current 90-days correlation between Wells Fargo Advantage and Wells Fargo Advantage is 0.08 (i.e., Significant 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

Poor diversification

The correlation between Wells Fargo Advantage and DJI is 0.69 (i.e., Poor 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 nation.

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

0.75	SADAX	Wells Fargo Ultra	Pair Corr
0.74	SADIX	Wells Fargo Ultra	Pair Corr
0.8	SSTHX	Wells Fargo Short	Pair Corr
0.82	WSCGX	Small Pany Growth	Pair Corr
0.98	WSCOX	Wells Fargo Advantage	Pair Corr
0.87	STAFX	Wells Fargo Large	Pair Corr
0.87	STDFX	Wells Fargo Large	Pair Corr
0.9	WSMCX	Small Pany Growth	Pair Corr
0.84	STOFX	Wells Fargo Large	Pair Corr
0.88	STNFX	Wells Fargo Large	Pair Corr
0.95	STSAX	Wells Fargo Mon	Pair Corr
0.8	STYIX	Wells Fargo Short	Pair Corr
0.87	SCNSX	Wells Fargo Mon	Pair Corr
0.87	SCSDX	Wells Fargo Mon	Pair Corr

Moving against Wells Mutual Fund

0.45	EMGYX	Wells Fargo Emerging	Pair Corr
0.45	EMGAX	Wells Fargo Emerging	Pair Corr
0.44	EMGNX	Wells Fargo Emerging	Pair Corr
0.41	EMGCX	Wells Fargo Emerging	Pair Corr
0.55	MNSGX	Wells Fargo Short	Pair Corr
0.5	MNTRX	Total Return Bond	Pair Corr
0.47	STYAX	Wells Fargo Income	Pair Corr

Related Correlations Analysis

	DHICX	VMPYX	VMPAX	SADAX	SADIX	EMGYX	EMGNX	EMGCX	EMGAX	SSHIX
DHICX		0.97	0.95	0.06	0.14	0.21	0.21	0.15	0.21	0.54	DHICX
VMPYX	0.97		0.97	0.2	0.28	0.15	0.15	0.1	0.15	0.53	VMPYX
VMPAX	0.95	0.97		0.29	0.4	0.06	0.06	0.01	0.06	0.54	VMPAX
SADAX	0.06	0.2	0.29		0.95	-0.24	-0.23	-0.2	-0.24	-0.12	SADAX
SADIX	0.14	0.28	0.4	0.95		-0.31	-0.3	-0.28	-0.31	-0.05	SADIX
EMGYX	0.21	0.15	0.06	-0.24	-0.31		1.0	0.94	1.0	0.09	EMGYX
EMGNX	0.21	0.15	0.06	-0.23	-0.3	1.0		0.94	1.0	0.09	EMGNX
EMGCX	0.15	0.1	0.01	-0.2	-0.28	0.94	0.94		0.94	-0.03	EMGCX
EMGAX	0.21	0.15	0.06	-0.24	-0.31	1.0	1.0	0.94		0.09	EMGAX
SSHIX	0.54	0.53	0.54	-0.12	-0.05	0.09	0.09	-0.03	0.09		SSHIX
	DHICX	VMPYX	VMPAX	SADAX	SADIX	EMGYX	EMGNX	EMGCX	EMGAX	SSHIX

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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

EMGNX	+ 1.0	EMGYX
EMGAX	+ 1.0	EMGYX
EMGAX	+ 1.0	EMGNX
VMPYX	+ 0.97	DHICX
VMPAX	+ 0.97	VMPYX
VMPAX	+ 0.95	DHICX

High negative correlations

EMGAX	- 0.31	SADIX
EMGYX	- 0.31	SADIX
EMGNX	- 0.3	SADIX
EMGCX	- 0.28	SADIX
EMGAX	- 0.24	SADAX
EMGYX	- 0.24	SADAX

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	0.09	(0.01)	(0.43)	(0.17)	0.11	(0.15)	0.23	(0.22)	0.79
VMPYX	0.09	(0.01)	(0.44)	(0.06)	0.10	(0.16)	0.23	(0.22)	0.79
VMPAX	0.09	0.00	(0.40)	0.01	0.08	(0.16)	0.23	(0.23)	0.79
SADAX	0.05	0.00	(0.81)	1.75	0.00	(0.15)	0.11	(0.11)	0.46
SADIX	0.05	0.01	(0.74)	1.71	0.00	(0.22)	0.11	(0.11)	0.57
EMGYX	0.60	0.02	(0.06)	0.25	0.83	(0.60)	1.28	(1.24)	5.15
EMGNX	0.60	0.03	(0.06)	0.27	0.83	(0.58)	1.23	(1.22)	5.20
EMGCX	0.61	0.05	(0.05)	2.50	0.79	(0.62)	1.27	(1.18)	5.16
EMGAX	0.60	0.02	(0.07)	0.25	0.84	(0.60)	1.28	(1.20)	5.16
SSHIX	0.07	(0.01)	(0.74)	(2.29)	0.06	(0.13)	0.12	(0.12)	0.47

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