Wealthbuilder Conservative Correlations

WCAFX Fund

USD 8.90 0.01 0.11%

The current 90-days correlation between Wealthbuilder Conservative and Fidelity Asset Manager is 0.92 (i.e., Almost no diversification). The correlation of Wealthbuilder Conservative 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.

Wealthbuilder Conservative Correlation With Market

Very weak diversification

The correlation between Wealthbuilder Conservative All and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wealthbuilder Conservative All and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wealthbuilder Conservative Allocation. 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.

Moving together with Wealthbuilder Mutual Fund

0.63	DHICX	Wells Fargo Advantage	Pair Corr
0.67	SSHIX	Wells Fargo Short	Pair Corr
0.63	WABIX	Wells Fargo Advantage	Pair Corr
0.75	SSTVX	Wells Fargo Short	Pair Corr
0.64	WARAX	Wells Fargo Advantage	Pair Corr
0.78	WARDX	Wells Fargo Advantage	Pair Corr
0.67	WARCX	Wells Fargo Advantage	Pair Corr
0.69	WSGIX	Wells Fargo Short	Pair Corr
0.79	WSIAX	Wells Fargo Strategic	Pair Corr
0.78	WSIDX	Wells Fargo Strategic	Pair Corr
0.9	WSICX	Wells Fargo Strategic	Pair Corr
0.78	WSINX	Wells Fargo Strategic	Pair Corr
0.62	STRIX	Wells Fargo Advantage	Pair Corr
0.76	STYAX	Wells Fargo Income	Pair Corr
0.68	SCTAX	California Tax Free	Pair Corr
0.72	SCTCX	California Tax Free	Pair Corr

Related Correlations Analysis

	FASIX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX
FASIX		0.05	0.0	-0.25	0.52	0.53	0.64	0.12	-0.23	0.24	FASIX
444859BR2	0.05		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	-0.69	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.25	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	-0.32	BRRAY
MSTSX	0.52	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	0.75	MSTSX
LBHIX	0.53	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	0.68	LBHIX
ABHYX	0.64	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	0.07	ABHYX
SCAXF	0.12	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	-0.43	SCAXF
VIASP	-0.23	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		0.41	VIASP
AAEVX	0.24	-0.69	0.0	-0.32	0.75	0.68	0.07	-0.43	0.41		AAEVX
	FASIX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX

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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

AAEVX	+ 0.75	MSTSX
AAEVX	+ 0.68	LBHIX
LBHIX	+ 0.67	MSTSX
ABHYX	+ 0.64	FASIX
LBHIX	+ 0.53	FASIX
MSTSX	+ 0.52	FASIX

High negative correlations

VIASP	- 0.8	SCAXF
AAEVX	- 0.69	444859BR2
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
MSTSX	- 0.45	BRRAY
AAEVX	- 0.43	SCAXF

Risk-Adjusted Indicators

There is a big difference between Wealthbuilder Mutual Fund performing well and Wealthbuilder Conservative 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 Wealthbuilder Conservative'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
FASIX	0.18	(0.02)	(0.47)	0.02	0.18	(0.20)	0.29	(0.36)	1.09
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
AAEVX	0.48	0.05	(0.10)	(2.13)	0.54	(0.57)	0.93	(0.77)	2.76

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