Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Discovery
WFDSX Fund  USD 36.30  0.03  0.08%   
The current 90-days correlation between Wells Fargo Discovery and American Mutual Fund is 0.85 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Wells Fargo Correlation With Market

Very poor diversification

The correlation between Wells Fargo Discovery and DJI is 0.84 (i.e., Very 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 state.
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

  0.82SADAX Wells Fargo UltraPairCorr
  0.8SADIX Wells Fargo UltraPairCorr
  0.83SSTHX Wells Fargo ShortPairCorr
  0.92WSCGX Small Pany GrowthPairCorr
  0.95WSCOX Wells Fargo AdvantagePairCorr
  0.94STAFX Wells Fargo LargePairCorr
  0.94STDFX Wells Fargo LargePairCorr
  0.91WSMCX Small Pany GrowthPairCorr
  0.94STOFX Wells Fargo LargePairCorr
  0.94STNFX Wells Fargo LargePairCorr
  0.93STSAX Wells Fargo MonPairCorr
  0.84STYIX Wells Fargo ShortPairCorr
  0.94SCNSX Wells Fargo MonPairCorr
  0.93SCSDX Wells Fargo MonPairCorr

Moving against Wells Mutual Fund

  0.33WSGIX Wells Fargo ShortPairCorr
  0.64MNTRX Total Return BondPairCorr
  0.62STYAX Wells Fargo IncomePairCorr
  0.36MNSGX Wells Fargo ShortPairCorr

Related Correlations Analysis

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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.

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