Wells Fargo Correlations

WGBIX Fund

USD 12.83 0.01 0.08%

The current 90-days correlation between Wells Fargo Spectrum and Wells Fargo Advantage is -0.03 (i.e., Good 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 Spectrum and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Spectrum 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 Spectrum. 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 gross domestic product.

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

0.62	SADAX	Wells Fargo Ultra	Pair Corr
0.62	SADIX	Wells Fargo Ultra	Pair Corr
0.67	WABIX	Wells Fargo Advantage	Pair Corr
0.62	SSTHX	Wells Fargo Short	Pair Corr
0.82	WSCGX	Small Pany Growth	Pair Corr
0.8	WSCOX	Wells Fargo Advantage	Pair Corr
0.65	WARAX	Wells Fargo Advantage	Pair Corr
0.78	WARDX	Wells Fargo Advantage	Pair Corr
0.84	STAFX	Wells Fargo Large	Pair Corr
0.84	STDFX	Wells Fargo Large	Pair Corr
0.82	WSMCX	Small Pany Growth	Pair Corr
0.84	STOFX	Wells Fargo Large	Pair Corr
0.84	STNFX	Wells Fargo Large	Pair Corr
0.73	STSAX	Wells Fargo Mon	Pair Corr
0.63	STYIX	Wells Fargo Short	Pair Corr
0.73	SCNSX	Wells Fargo Mon	Pair Corr
0.73	SCSDX	Wells Fargo Mon	Pair Corr

Related Correlations Analysis

	WHYIX	WHYDX	WHYCX	WHYMX	DHICX	VMPRX	VMPYX	VMPAX	VMPIX
WHYIX		0.99	0.99	0.99	0.84	0.98	0.87	0.88	0.0	WHYIX
WHYDX	0.99		0.99	0.99	0.84	0.98	0.87	0.87	0.0	WHYDX
WHYCX	0.99	0.99		0.99	0.87	0.99	0.88	0.88	0.0	WHYCX
WHYMX	0.99	0.99	0.99		0.86	0.98	0.89	0.89	0.0	WHYMX
DHICX	0.84	0.84	0.87	0.86		0.86	0.96	0.97	0.0	DHICX
VMPRX	0.98	0.98	0.99	0.98	0.86		0.88	0.88	0.0	VMPRX
VMPYX	0.87	0.87	0.88	0.89	0.96	0.88		0.99	0.0	VMPYX
VMPAX	0.88	0.87	0.88	0.89	0.97	0.88	0.99		0.0	VMPAX
VMPIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		VMPIX
	WHYIX	WHYDX	WHYCX	WHYMX	DHICX	VMPRX	VMPYX	VMPAX	VMPIX

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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

WHYDX	+ 0.99	WHYIX
WHYCX	+ 0.99	WHYIX
WHYMX	+ 0.99	WHYIX
WHYCX	+ 0.99	WHYDX
WHYMX	+ 0.99	WHYDX
WHYMX	+ 0.99	WHYCX

High negative correlations

VMPIX	- 0.0	VMPAX
VMPIX	- 0.0	VMPYX
VMPIX	- 0.0	VMPRX
VMPIX	- 0.0	DHICX
VMPIX	- 0.0	WHYMX
VMPIX	- 0.0	WHYCX

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
WHYIX	0.14	0.02	(0.27)	(0.11)	0.19	(0.21)	0.41	(0.31)	1.56
WHYDX	0.15	0.02	(0.30)	(0.11)	0.18	(0.21)	0.42	(0.31)	1.46
WHYCX	0.14	0.02	(0.29)	(0.08)	0.20	(0.20)	0.31	(0.31)	1.45
WHYMX	0.14	0.02	(0.27)	(0.09)	0.20	(0.20)	0.32	(0.31)	1.56
DHICX	0.08	(0.01)	(0.48)	(0.27)	0.11	(0.15)	0.22	(0.22)	0.79
VMPRX	0.09	0.01	(0.44)	(0.01)	0.08	(0.16)	0.23	(0.23)	0.79
VMPYX	0.09	0.00	(0.49)	(0.05)	0.08	(0.17)	0.23	(0.22)	0.79
VMPAX	0.09	(0.01)	(0.47)	(0.16)	0.10	(0.16)	0.23	(0.23)	0.79
VMPIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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