Wells Fargo Correlations

VMPRX Fund

USD 8.88 0.01 0.11%

The current 90-days correlation between Wells Fargo Strategic and Vanguard Limited Term Tax Exempt is 0.09 (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

Very good diversification

The correlation between Wells Fargo Strategic and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Strategic 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 Strategic. 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 metropolitan statistical area.

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

0.7	SSTYX	Wells Fargo Short	Pair Corr
0.88	WSSRX	Wells Fargo Short	Pair Corr
0.98	WFCMX	Wells Fargo Fds	Pair Corr
0.97	WFRTX	Wells Fargo Intermediate	Pair Corr
0.71	WGCIX	Allspring Global Inv	Pair Corr
0.7	WGCRX	Allspring Global Inv	Pair Corr
0.76	MSDRX	Wells Fargo Short	Pair Corr
0.97	WMBRX	Wells Fargo Municipal	Pair Corr
0.87	EKHRX	Wells Fargo High	Pair Corr

Related Correlations Analysis

	VMLTX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP
VMLTX		-0.06	0.0	-0.3	0.33	0.59	0.97	-0.05	-0.15	VMLTX
444859BR2	-0.06		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.3	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	BRRAY
MSTSX	0.33	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	MSTSX
LBHIX	0.59	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	LBHIX
ABHYX	0.97	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	ABHYX
SCAXF	-0.05	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	SCAXF
VIASP	-0.15	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		VIASP
	VMLTX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP

Click cells to compare fundamentals

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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

ABHYX	+ 0.97	VMLTX
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.59	VMLTX
ABHYX	+ 0.51	LBHIX
SCAXF	+ 0.41	444859BR2
ABHYX	+ 0.34	MSTSX

High negative correlations

VIASP	- 0.8	SCAXF
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
MSTSX	- 0.45	BRRAY
VIASP	- 0.41	444859BR2
ABHYX	- 0.4	BRRAY

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
VMLTX	0.07	0.00	(0.60)	(0.06)	0.00	(0.14)	0.18	(0.18)	0.74
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18

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