Wells Fargo Correlations
| WFC-PY Preferred Stock | USD 24.78 0.08 0.32% |
The current 90-days correlation between Wells Fargo and Wells Fargo is 0.69 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Wells Fargo Correlation With Market
Significant diversification
The correlation between Wells Fargo and DJI is 0.01 (i.e., Significant 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.
Wells |
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
| 0.8 | BK | Bank of New York Fiscal Year End 10th of January 2025 | PairCorr |
| 0.78 | CM | Canadian Imperial Bank Fiscal Year End 5th of December 2024 | PairCorr |
| 0.77 | RY | Royal Bank Fiscal Year End 5th of December 2024 | PairCorr |
| 0.71 | BML-PG | Bank of America | PairCorr |
| 0.82 | BML-PH | Bank of America | PairCorr |
| 0.95 | BML-PJ | Bank of America | PairCorr |
| 0.84 | BML-PL | Bank of America | PairCorr |
| 0.8 | BMO | Bank of Montreal Fiscal Year End 6th of December 2024 | PairCorr |
| 0.81 | BNS | Bank of Nova Scotia Sell-off Trend | PairCorr |
| 0.77 | BAC-PE | Bank of America | PairCorr |
| 0.66 | BAC-PM | Bank of America | PairCorr |
| 0.86 | BAC-PK | Bank of America | PairCorr |
| 0.7 | BAC-PL | Bank of America | PairCorr |
Moving against Wells Preferred Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WFC-PZ | 0.57 | (0.04) | 0.00 | (0.30) | 0.00 | 1.44 | 3.99 | |||
| WFC-PA | 0.58 | (0.04) | 0.00 | (0.33) | 0.00 | 1.10 | 3.30 | |||
| BAC-PQ | 0.64 | (0.04) | 0.00 | (4.16) | 0.00 | 1.16 | 4.76 | |||
| WFC-PC | 0.60 | (0.05) | 0.00 | (0.34) | 0.00 | 1.18 | 3.45 | |||
| BML-PG | 0.41 | 0.05 | (0.07) | (0.20) | 0.51 | 0.97 | 2.56 | |||
| BAC-PE | 0.37 | 0.01 | (0.12) | (0.60) | 0.51 | 0.71 | 2.60 | |||
| BAC-PB | 0.23 | 0.01 | (0.22) | 0.53 | 0.28 | 0.48 | 1.76 |
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 Price Ceiling Movement Now
Price Ceiling MovementCalculate and plot Price Ceiling Movement for different equity instruments |
| All Next | Launch Module |
Wells Fargo Corporate Management
| Muneera Carr | Ex Officer | Profile | |
| Saul Beurden | EVP Technology | Profile | |
| Charles Scharf | CEO Pres | Profile | |
| Scott Powell | EVP COO | Profile | |
| Jonathan Weiss | Sr Banking | Profile | |
| John Campbell | Director Relations | Profile | |
| JD Esq | Sr Counsel | Profile |