Wells Fargo Correlations

WFIPX Fund

USD 11.36 0.01 0.09%

The current 90-days correlation between Wells Fargo Income and Ultra Short Fixed Income is 0.37 (i.e., Weak 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 Income and DJI is 0.76 (i.e., Poor 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

0.77	DHICX	Wells Fargo Advantage	Pair Corr
0.76	VMPAX	Wells Fargo Advantage	Pair Corr
0.73	SADAX	Wells Fargo Ultra	Pair Corr
0.72	SADIX	Wells Fargo Ultra	Pair Corr
0.73	EMGNX	Wells Fargo Emerging	Pair Corr
0.7	EMGAX	Wells Fargo Emerging	Pair Corr
0.81	SSHIX	Wells Fargo Short	Pair Corr
0.76	WABIX	Wells Fargo Advantage	Pair Corr
0.74	SSTHX	Wells Fargo Short	Pair Corr
0.81	SSTVX	Wells Fargo Short	Pair Corr
0.72	WSCGX	Small Pany Growth	Pair Corr
0.76	WSCOX	Wells Fargo Advantage	Pair Corr
0.76	WSBIX	Short Term Municipal	Pair Corr
0.74	WARAX	Wells Fargo Advantage	Pair Corr
0.75	WARCX	Wells Fargo Advantage	Pair Corr
0.79	WSGIX	Wells Fargo Short	Pair Corr
0.83	WSIAX	Wells Fargo Strategic	Pair Corr
0.84	WSINX	Wells Fargo Strategic	Pair Corr
0.76	WSMAX	Short Term Municipal	Pair Corr
0.78	STRIX	Wells Fargo Advantage	Pair Corr
0.98	STYAX	Wells Fargo Income	Pair Corr
0.72	STYIX	Wells Fargo Short	Pair Corr
0.74	SCNSX	Wells Fargo Mon	Pair Corr
0.69	SCTAX	California Tax Free	Pair Corr
0.73	SCTCX	California Tax Free	Pair Corr
0.73	SCSAX	Wells Fargo Mon	Pair Corr
0.78	SCVAX	Small Pany Value	Pair Corr
0.78	SCVNX	Small Pany Value	Pair Corr
0.84	WCAFX	Wealthbuilder Conservative	Pair Corr
0.84	WCCFX	Wealthbuilder Conservative	Pair Corr
0.73	MNTRX	Total Return Bond	Pair Corr
0.84	WCYFX	Wells Fargo Wealthbuilder	Pair Corr
0.71	WUSNX	Allspring Ultra Short	Pair Corr
0.76	IPBAX	Inflation Protected	Pair Corr
0.77	IPBNX	Wells Fargo Real	Pair Corr
0.73	EQIIX	Wells Fargo Emerging	Pair Corr

Moving against Wells Mutual Fund

0.33

STNFX

Wells Fargo Large

Pair Corr

Related Correlations Analysis

	PATFX	FDBLX	MBSAX	ABNTX	GOBAX	SWSFX
PATFX		0.7	0.68	0.79	0.77	0.7	PATFX
FDBLX	0.7		0.81	0.76	0.75	0.87	FDBLX
MBSAX	0.68	0.81		0.61	0.75	0.86	MBSAX
ABNTX	0.79	0.76	0.61		0.82	0.82	ABNTX
GOBAX	0.77	0.75	0.75	0.82		0.85	GOBAX
SWSFX	0.7	0.87	0.86	0.82	0.85		SWSFX
	PATFX	FDBLX	MBSAX	ABNTX	GOBAX	SWSFX

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
PATFX	0.09	0.01	(0.38)	0.48	0.00	(0.13)	0.18	(0.09)	0.90
FDBLX	0.12	0.00	(0.37)	0.16	0.00	(0.18)	0.35	(0.24)	0.71
MBSAX	0.20	0.05	(0.14)	0.95	0.00	(0.26)	0.37	(0.37)	2.25
ABNTX	0.08	0.00	(0.64)	0.21	0.00	(0.11)	0.10	(0.10)	0.39
GOBAX	0.27	0.03	(0.14)	1.94	0.21	(0.31)	0.55	(0.45)	1.64
SWSFX	0.05	0.01	0.00	0.55	0.00	0.00	0.10	(0.10)	0.49

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