Wells Fargo Correlations

Preferred Stocks . USA . 
Preferred Stock . Wells Fargo
WFC-PD Preferred Stock   18.63  0.05  0.27%   
The current 90-days correlation between Wells Fargo and JPMorgan Chase Co is 0.87 (i.e., Very poor 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.

Wells Fargo Correlation With Market

Weak diversification

The correlation between Wells Fargo and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Wells Fargo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wells Fargo when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Wells Fargo - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Wells Fargo to buy it.

Moving together with Wells Preferred Stock

  0.61RY Royal BankPairCorr
  0.8BML-PJ Bank of AmericaPairCorr
  0.73BML-PL Bank of AmericaPairCorr
  0.93JPM-PK JPMorgan ChasePairCorr
  0.96JPM-PJ JPMorgan ChasePairCorr
  0.94JPM-PM JPMorgan ChasePairCorr
  0.94JPM-PL JPMorgan ChasePairCorr
  0.8BAC-PE Bank of AmericaPairCorr
  0.87BAC-PM Bank of AmericaPairCorr
  0.9BAC-PN Bank of AmericaPairCorr
  0.91BAC-PQ Bank of AmericaPairCorr
  0.9BAC-PO Bank of AmericaPairCorr
  0.9BAC-PP Bank of AmericaPairCorr
  0.97BAC-PS Bank of AmericaPairCorr

Moving against Wells Preferred Stock

  0.52BMO Bank of MontrealPairCorr
  0.45C Citigroup Earnings Call This WeekPairCorr
  0.32JPM JPMorgan ChasePairCorr
  0.64HSBC HSBC Holdings PLCPairCorr
  0.44SMFG Sumitomo Mitsui Financial Sell-off TrendPairCorr
  0.4MUFG Mitsubishi UFJ Financial Earnings Call This WeekPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Wells Preferred Stock performing well and Wells Fargo Company 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Wells Fargo without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Share Portfolio Now

   

Share Portfolio

Track or share privately all of your investments from the convenience of any device
All  Next Launch Module

Wells Fargo Corporate Management

Muneera CarrEx OfficerProfile
Saul BeurdenEVP TechnologyProfile
Charles ScharfCEO PresProfile
Scott PowellEVP COOProfile
Jonathan WeissSr BankingProfile
John CampbellDirector RelationsProfile
JD EsqSr CounselProfile
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY