Wells Fargo Correlations

WFIPX Fund

USD 11.33 0.03 0.26%

The current 90-days correlation between Wells Fargo Income and Extended Market Index is 0.04 (i.e., Significant 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

Modest diversification

The correlation between Wells Fargo Income and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Income 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 Income. 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 inflation.

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

0.68	WABIX	Wells Fargo Advantage	Pair Corr
0.68	WARAX	Wells Fargo Advantage	Pair Corr
0.69	WARCX	Wells Fargo Advantage	Pair Corr
0.63	WSINX	Wells Fargo Strategic	Pair Corr
0.97	STYAX	Wells Fargo Income	Pair Corr
0.75	WCAFX	Wealthbuilder Conservative	Pair Corr
0.74	WCCFX	Wealthbuilder Conservative	Pair Corr
0.89	MNTRX	Total Return Bond	Pair Corr
0.74	WCYFX	Wells Fargo Wealthbuilder	Pair Corr
0.68	IPBAX	Inflation Protected	Pair Corr
0.67	IPBNX	Wells Fargo Real	Pair Corr

Related Correlations Analysis

	USMIX	PATFX	PRFHX	RTOUX	PIEFX	OPTCX	ARTQX	MBSAX
USMIX		0.56	0.64	0.94	0.66	0.93	0.97	0.96	USMIX
PATFX	0.56		0.98	0.57	0.76	0.6	0.48	0.57	PATFX
PRFHX	0.64	0.98		0.64	0.76	0.69	0.57	0.66	PRFHX
RTOUX	0.94	0.57	0.64		0.7	0.92	0.91	0.84	RTOUX
PIEFX	0.66	0.76	0.76	0.7		0.61	0.55	0.6	PIEFX
OPTCX	0.93	0.6	0.69	0.92	0.61		0.91	0.89	OPTCX
ARTQX	0.97	0.48	0.57	0.91	0.55	0.91		0.93	ARTQX
MBSAX	0.96	0.57	0.66	0.84	0.6	0.89	0.93		MBSAX
	USMIX	PATFX	PRFHX	RTOUX	PIEFX	OPTCX	ARTQX	MBSAX

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
USMIX	0.85	0.10	0.10	0.19	0.75	(0.99)	1.53	(1.49)	4.76
PATFX	0.09	0.00	(0.51)	0.00	0.00	(0.14)	0.27	(0.18)	0.72
PRFHX	0.09	0.01	(0.54)	0.56	0.00	(0.15)	0.27	(0.09)	0.63
RTOUX	0.74	0.02	0.03	0.11	0.74	(0.78)	1.55	(1.34)	4.14
PIEFX	0.76	0.08	0.07	0.19	0.65	(0.89)	1.67	(1.21)	3.80
OPTCX	0.14	0.01	(0.31)	0.15	0.00	(0.20)	0.30	(0.20)	0.91
ARTQX	0.79	0.08	0.12	0.16	0.53	(1.01)	1.86	(1.05)	9.74
MBSAX	0.21	0.03	(0.18)	0.35	0.00	(0.25)	0.37	(0.36)	1.96

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Wells Fargo Correlations

Wells Fargo Correlation With Market

Modest diversification

Moving together with Wells Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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