Wells Fargo Correlations

WGLSX Fund

USD 15.44 0.07 0.46%

The current 90-days correlation between Wells Fargo Advantage and Neuberger Berman Long is 0.67 (i.e., 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 Advantage and DJI is 0.85 (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 Advantage 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 Advantage. 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

0.8	WAAEX	Wasatch Small Cap	Pair Corr
0.88	WAGSX	Wasatch Global Select	Pair Corr
0.89	WAGOX	Wasatch Global Oppor	Pair Corr
0.78	WAMVX	Wasatch Micro Cap	Pair Corr
1.0	WALSX	Wasatch Longshort Alpha	Pair Corr
0.79	WAMCX	Wasatch Ultra Growth	Pair Corr
0.81	WGICX	Wasatch Micro Cap	Pair Corr
0.88	WGGSX	Wasatch Global Select	Pair Corr
0.78	WGMCX	Wasatch Ultra Growth	Pair Corr
0.78	WGMVX	Wasatch Micro Cap	Pair Corr
0.81	WGROX	Wasatch E Growth	Pair Corr
0.8	WIAEX	Wasatch Small Cap	Pair Corr
0.84	WICVX	Wasatch Small Cap	Pair Corr
0.81	WIGRX	Wasatch E Growth	Pair Corr
0.89	WIGOX	Wasatch Global Oppor	Pair Corr
0.84	WMCVX	Wasatch Small Cap	Pair Corr
0.87	WMICX	Wasatch Micro Cap	Pair Corr
0.85	NLSCX	Neuberger Berman Long	Pair Corr
0.84	NLSAX	Neuberger Berman Long	Pair Corr
0.76	NLSIX	Neuberger Berman Long	Pair Corr

Moving against Wells Mutual Fund

0.54

WHOSX

Wasatch Hoisington

Pair Corr

Related Correlations Analysis

	NLSCX	NLSAX	NLSIX	DIAYX	DIAMX	PWLIX	PWLMX	ASLAX
NLSCX		1.0	0.93	0.22	0.18	0.23	0.22	0.97	NLSCX
NLSAX	1.0		0.93	0.2	0.15	0.23	0.22	0.98	NLSAX
NLSIX	0.93	0.93		0.19	0.15	0.25	0.25	0.94	NLSIX
DIAYX	0.22	0.2	0.19		1.0	0.44	0.51	0.17	DIAYX
DIAMX	0.18	0.15	0.15	1.0		0.42	0.5	0.12	DIAMX
PWLIX	0.23	0.23	0.25	0.44	0.42		0.9	0.25	PWLIX
PWLMX	0.22	0.22	0.25	0.51	0.5	0.9		0.23	PWLMX
ASLAX	0.97	0.98	0.94	0.17	0.12	0.25	0.23		ASLAX
	NLSCX	NLSAX	NLSIX	DIAYX	DIAMX	PWLIX	PWLMX	ASLAX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NLSCX	0.21	(0.01)	(0.25)	0.05	0.25	(0.22)	0.46	(0.57)	1.20
NLSAX	0.22	(0.01)	(0.25)	0.07	0.25	(0.23)	0.44	(0.55)	1.21
NLSIX	0.21	0.02	(0.26)	(0.56)	0.25	(0.22)	0.44	(0.54)	1.19
DIAYX	0.33	(0.06)	0.00	(0.06)	0.00	0.00	0.70	(0.74)	2.23
DIAMX	0.33	(0.07)	0.00	(0.07)	0.00	0.00	0.73	(0.74)	2.23
PWLIX	0.28	0.02	(0.19)	0.59	0.27	(0.32)	0.50	(0.61)	1.72
PWLMX	0.28	0.02	(0.20)	0.34	0.25	(0.34)	0.61	(0.49)	1.84
ASLAX	0.37	0.00	(0.07)	0.10	0.36	(0.40)	0.80	(0.90)	2.94

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