Wells Fargo Correlations

WFDAX Fund

USD 27.24 2.80 9.32%

The current 90-days correlation between Wells Fargo Discovery and Blackrock Short Term Inflat Protected is 0.11 (i.e., Average 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

Poor diversification

The correlation between Wells Fargo Discovery and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Discovery 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 Wells Fargo Discovery. 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 nation.

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

0.8	SADAX	Wells Fargo Ultra	Pair Corr
0.8	SADIX	Wells Fargo Ultra	Pair Corr
0.82	SSTHX	Wells Fargo Short	Pair Corr
0.86	WSCGX	Small Pany Growth	Pair Corr
0.95	WSCOX	Wells Fargo Advantage	Pair Corr
0.92	STAFX	Wells Fargo Large	Pair Corr
0.93	STDFX	Wells Fargo Large	Pair Corr
0.91	WSMCX	Small Pany Growth	Pair Corr
0.88	STOFX	Wells Fargo Large	Pair Corr
0.93	STNFX	Wells Fargo Large	Pair Corr
0.92	STSAX	Wells Fargo Mon	Pair Corr
0.82	STYIX	Wells Fargo Short	Pair Corr
0.89	SCNSX	Wells Fargo Mon	Pair Corr
0.89	SCSDX	Wells Fargo Mon	Pair Corr

Moving against Wells Mutual Fund

0.38	EMGYX	Wells Fargo Emerging	Pair Corr
0.38	EMGNX	Wells Fargo Emerging	Pair Corr
0.38	EMGAX	Wells Fargo Emerging	Pair Corr
0.34	EMGCX	Wells Fargo Emerging	Pair Corr
0.31	SSTVX	Wells Fargo Short	Pair Corr
0.58	MNSGX	Wells Fargo Short	Pair Corr
0.53	MNTRX	Total Return Bond	Pair Corr
0.5	STYAX	Wells Fargo Income	Pair Corr

Related Correlations Analysis

	BIIPX	BPIRX	ASTIX	TSDCX	VMSSX	SNORX	CMGUX	AOUNX
BIIPX		-0.14	-0.09	-0.11	0.71	-0.17	-0.22	-0.1	BIIPX
BPIRX	-0.14		0.9	0.77	0.11	0.89	0.83	0.77	BPIRX
ASTIX	-0.09	0.9		0.87	0.29	0.7	0.83	0.8	ASTIX
TSDCX	-0.11	0.77	0.87		0.34	0.55	0.93	0.92	TSDCX
VMSSX	0.71	0.11	0.29	0.34		-0.05	0.11	0.2	VMSSX
SNORX	-0.17	0.89	0.7	0.55	-0.05		0.67	0.6	SNORX
CMGUX	-0.22	0.83	0.83	0.93	0.11	0.67		0.97	CMGUX
AOUNX	-0.1	0.77	0.8	0.92	0.2	0.6	0.97		AOUNX
	BIIPX	BPIRX	ASTIX	TSDCX	VMSSX	SNORX	CMGUX	AOUNX

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

AOUNX	+ 0.97	CMGUX
CMGUX	+ 0.93	TSDCX
AOUNX	+ 0.92	TSDCX
ASTIX	+ 0.9	BPIRX
SNORX	+ 0.89	BPIRX
TSDCX	+ 0.87	ASTIX

High negative correlations

CMGUX	- 0.22	BIIPX
SNORX	- 0.17	BIIPX
BPIRX	- 0.14	BIIPX
TSDCX	- 0.11	BIIPX
AOUNX	- 0.1	BIIPX
ASTIX	- 0.09	BIIPX

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
BIIPX	0.09	(0.01)	(0.67)	(0.23)	0.09	(0.14)	0.21	(0.21)	0.62
BPIRX	0.30	(0.01)	(0.19)	0.08	0.19	(0.37)	0.78	(0.46)	2.54
ASTIX	0.25	0.07	(0.09)	1.04	0.00	(0.31)	0.57	(0.43)	1.79
TSDCX	0.06	0.01	(0.80)	8.18	0.00	(0.19)	0.11	(0.11)	0.55
VMSSX	0.06	(0.01)	(0.45)	(0.18)	0.01	(0.24)	0.22	(0.22)	0.66
SNORX	0.61	(0.06)	(0.07)	0.03	0.91	(0.67)	1.29	(1.04)	7.91
CMGUX	0.04	0.01	0.00	4.05	0.00	0.00	0.11	0.00	0.65
AOUNX	0.04	0.00	(0.93)	0.21	0.00	(0.19)	0.10	(0.10)	0.61

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