| STOFX Fund | | | USD 28.47 0.09 0.32% |
The current 90-days correlation between Wells Fargo Large and Allianzgi Convertible Income is -0.01 (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
Average diversification
The correlation between Wells Fargo Large and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Large 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 Large. 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.