Wells Fargo Correlations

WHYIX Fund

USD 9.55 0.02 0.21%

The current 90-days correlation between Wells Fargo Advantage and Tax Managed Large Cap is 0.01 (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

Average diversification

The correlation between Wells Fargo Advantage and DJI is 0.17 (i.e., Average 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 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

0.9	DHICX	Wells Fargo Advantage	Pair Corr
0.87	VMPYX	Wells Fargo Advantage	Pair Corr
0.96	VMPAX	Wells Fargo Advantage	Pair Corr
0.76	WABIX	Wells Fargo Advantage	Pair Corr
0.65	WSCGX	Small Pany Growth	Pair Corr
0.66	WSCOX	Wells Fargo Advantage	Pair Corr
0.65	WSBIX	Short Term Municipal	Pair Corr
0.77	WARAX	Wells Fargo Advantage	Pair Corr
0.77	WARDX	Wells Fargo Advantage	Pair Corr
0.78	WARCX	Wells Fargo Advantage	Pair Corr
0.62	STAFX	Wells Fargo Large	Pair Corr
0.62	STDFX	Wells Fargo Large	Pair Corr
0.63	WSIAX	Wells Fargo Strategic	Pair Corr
0.62	WSIDX	Wells Fargo Strategic	Pair Corr
0.7	WSICX	Wells Fargo Strategic	Pair Corr
0.64	WSINX	Wells Fargo Strategic	Pair Corr
0.64	WSMAX	Short Term Municipal	Pair Corr
0.75	WSSCX	Short Term Municipal	Pair Corr
0.65	WSTMX	Short Term Municipal	Pair Corr
0.63	STNFX	Wells Fargo Large	Pair Corr
0.67	STSAX	Wells Fargo Mon	Pair Corr
0.88	STRIX	Wells Fargo Advantage	Pair Corr
0.87	STYAX	Wells Fargo Income	Pair Corr
0.7	SCNSX	Wells Fargo Mon	Pair Corr
0.91	SCTAX	California Tax Free	Pair Corr
0.91	SCTCX	California Tax Free	Pair Corr
0.69	SCSDX	Wells Fargo Mon	Pair Corr

Related Correlations Analysis

	RETSX	FVKVWX	VOLJX	FLKYPX	FUHKBX	MSSGX
RETSX		0.28	0.98	0.37	0.41	0.57	RETSX
FVKVWX	0.28		0.22	0.77	0.76	0.02	FVKVWX
VOLJX	0.98	0.22		0.32	0.31	0.64	VOLJX
FLKYPX	0.37	0.77	0.32		0.7	-0.07	FLKYPX
FUHKBX	0.41	0.76	0.31	0.7		-0.13	FUHKBX
MSSGX	0.57	0.02	0.64	-0.07	-0.13		MSSGX
	RETSX	FVKVWX	VOLJX	FLKYPX	FUHKBX	MSSGX

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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

VOLJX	+ 0.98	RETSX
FLKYPX	+ 0.77	FVKVWX
FUHKBX	+ 0.76	FVKVWX
FUHKBX	+ 0.7	FLKYPX
MSSGX	+ 0.64	VOLJX
MSSGX	+ 0.57	RETSX

High negative correlations

MSSGX	- 0.13	FUHKBX
MSSGX	- 0.07	FLKYPX

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
RETSX	0.59	0.02	(0.03)	0.12	0.80	(0.61)	1.19	(1.46)	5.40
FVKVWX	0.60	0.18	0.00	0.98	0.00	0.00	1.20	(1.24)	2.52
VOLJX	0.70	0.04	0.00	0.16	1.06	(0.72)	1.52	(1.39)	6.07
FLKYPX	0.85	0.22	0.00	1.97	0.00	0.00	1.80	(1.14)	6.36
FUHKBX	0.55	0.08	0.03	0.47	0.55	(0.61)	1.11	(0.90)	2.32
MSSGX	1.58	0.44	0.20	(7.70)	1.51	(2.01)	3.81	(2.32)	11.74

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