Wells Fargo Correlations

WGSDX Fund

USD 9.73 0.03 0.31%

The current 90-days correlation between Wells Fargo Government and Blue Current Global is 0.03 (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

Good diversification

The correlation between Wells Fargo Government and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Government 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 Government. 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 unemployment.

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

0.73	WSGIX	Wells Fargo Short	Pair Corr
0.61	WSICX	Wells Fargo Strategic	Pair Corr
0.99	STYAX	Wells Fargo Income	Pair Corr
0.64	SCTAX	California Tax Free	Pair Corr
0.7	SCTCX	California Tax Free	Pair Corr

Moving against Wells Mutual Fund

0.72	SADIX	Wells Fargo Ultra	Pair Corr
0.68	SADAX	Wells Fargo Ultra	Pair Corr
0.6	WSCOX	Wells Fargo Advantage	Pair Corr
0.57	SSTHX	Wells Fargo Short	Pair Corr
0.5	WSCGX	Small Pany Growth	Pair Corr
0.77	STAFX	Wells Fargo Large	Pair Corr
0.77	STDFX	Wells Fargo Large	Pair Corr
0.77	STOFX	Wells Fargo Large	Pair Corr
0.77	STNFX	Wells Fargo Large	Pair Corr
0.51	STSAX	Wells Fargo Mon	Pair Corr
0.49	WSMCX	Small Pany Growth	Pair Corr
0.68	SCVNX	Small Pany Value	Pair Corr
0.68	WUSDX	Wells Fargo Ultra	Pair Corr
0.67	SCVAX	Small Pany Value	Pair Corr
0.67	SCVIX	Small Pany Value	Pair Corr
0.67	SCVFX	Small Pany Value	Pair Corr
0.58	STYIX	Wells Fargo Short	Pair Corr

Related Correlations Analysis

	BCGDX	APDPX	DSDYX	RGPAX	WIGOX	PGMAX	USLUX
BCGDX		0.13	0.08	0.58	0.54	0.82	0.55	BCGDX
APDPX	0.13		-0.76	0.8	0.67	0.54	0.75	APDPX
DSDYX	0.08	-0.76		-0.41	-0.24	-0.18	-0.51	DSDYX
RGPAX	0.58	0.8	-0.41		0.91	0.89	0.87	RGPAX
WIGOX	0.54	0.67	-0.24	0.91		0.83	0.74	WIGOX
PGMAX	0.82	0.54	-0.18	0.89	0.83		0.85	PGMAX
USLUX	0.55	0.75	-0.51	0.87	0.74	0.85		USLUX
	BCGDX	APDPX	DSDYX	RGPAX	WIGOX	PGMAX	USLUX

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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

WIGOX	+ 0.91	RGPAX
PGMAX	+ 0.89	RGPAX
USLUX	+ 0.87	RGPAX
USLUX	+ 0.85	PGMAX
PGMAX	+ 0.83	WIGOX
PGMAX	+ 0.82	BCGDX

High negative correlations

DSDYX	- 0.76	APDPX
USLUX	- 0.51	DSDYX
RGPAX	- 0.41	DSDYX
WIGOX	- 0.24	DSDYX
PGMAX	- 0.18	DSDYX

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
BCGDX	0.49	(0.07)	(0.18)	0.01	0.62	(0.50)	0.82	(1.10)	2.50
APDPX	0.10	0.00	(0.66)	0.00	0.00	(0.15)	0.20	(0.10)	0.69
DSDYX	0.16	0.00	(0.65)	(0.05)	0.15	(0.19)	0.38	(0.24)	0.92
RGPAX	0.57	0.00	(0.06)	0.13	0.56	(0.70)	1.32	(1.36)	3.24
WIGOX	0.75	(0.01)	(0.01)	0.12	0.73	(0.88)	1.54	(1.24)	4.08
PGMAX	0.31	(0.03)	(0.24)	0.06	0.34	(0.38)	0.70	(0.69)	2.08
USLUX	0.74	(0.02)	(0.04)	0.10	0.83	(0.79)	1.79	(1.59)	5.91

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