Wells Fargo Correlations

SSTYX Fund

USD 8.54 0.01 0.12%

The current 90-days correlation between Wells Fargo Short and Wells Fargo Strategic is 0.34 (i.e., Weak 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 Short Term and DJI is -0.07 (i.e., Good 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 World Market Map 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 manufacturing.

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

0.72	VMPRX	Wells Fargo Strategic	Pair Corr
0.76	WSSRX	Wells Fargo Short	Pair Corr
0.72	WGCIX	Allspring Global Inv	Pair Corr
0.73	WGCRX	Allspring Global Inv	Pair Corr
0.85	MSDRX	Wells Fargo Short	Pair Corr
0.7	EKHRX	Wells Fargo High	Pair Corr
0.61	VBIRX	Vanguard Short Term	Pair Corr

Related Correlations Analysis

	VMPRX	EMGDX	WRPIX	WRPRX	WSCJX	WSCRX	WARRX	STFFX	WSSRX
VMPRX		0.38	0.0	-0.03	-0.06	-0.07	0.5	-0.04	0.88	VMPRX
EMGDX	0.38		-0.44	-0.44	0.16	0.18	0.67	0.35	0.41	EMGDX
WRPIX	0.0	-0.44		1.0	0.59	0.54	0.03	0.45	0.14	WRPIX
WRPRX	-0.03	-0.44	1.0		0.6	0.55	0.02	0.47	0.13	WRPRX
WSCJX	-0.06	0.16	0.59	0.6		0.95	0.34	0.85	0.16	WSCJX
WSCRX	-0.07	0.18	0.54	0.55	0.95		0.48	0.77	0.05	WSCRX
WARRX	0.5	0.67	0.03	0.02	0.34	0.48		0.37	0.42	WARRX
STFFX	-0.04	0.35	0.45	0.47	0.85	0.77	0.37		0.25	STFFX
WSSRX	0.88	0.41	0.14	0.13	0.16	0.05	0.42	0.25		WSSRX
	VMPRX	EMGDX	WRPIX	WRPRX	WSCJX	WSCRX	WARRX	STFFX	WSSRX

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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

WRPRX	+ 1.0	WRPIX
WSCRX	+ 0.95	WSCJX
WSSRX	+ 0.88	VMPRX
STFFX	+ 0.85	WSCJX
STFFX	+ 0.77	WSCRX
WARRX	+ 0.67	EMGDX

High negative correlations

WRPRX	- 0.44	EMGDX
WRPIX	- 0.44	EMGDX
WSCRX	- 0.07	VMPRX
WSCJX	- 0.06	VMPRX
STFFX	- 0.04	VMPRX
WRPRX	- 0.03	VMPRX

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
VMPRX	0.08	0.00	(0.44)	0.03	0.08	(0.16)	0.23	(0.23)	0.79
EMGDX	0.65	(0.04)	(0.11)	0.00	0.99	(0.61)	1.27	(1.75)	5.16
WRPIX	0.25	0.01	(0.31)	0.22	0.16	(0.33)	0.61	(0.37)	1.48
WRPRX	0.24	0.01	(0.29)	0.19	0.16	(0.31)	0.62	(0.37)	1.35
WSCJX	0.98	(0.05)	0.01	0.09	1.01	(1.16)	2.25	(1.74)	7.58
WSCRX	0.85	(0.08)	(0.04)	0.06	0.99	(0.86)	1.85	(1.58)	6.44
WARRX	0.30	(0.04)	(0.29)	0.01	0.36	(0.32)	0.61	(0.68)	1.90
STFFX	0.71	0.00	(0.01)	0.12	0.98	(0.69)	1.65	(2.05)	4.93
WSSRX	0.06	0.00	(0.67)	0.03	0.00	(0.15)	0.21	(0.10)	0.72

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