Wells Fargo Correlations

WSGIX Fund

USD 8.91 0.01 0.11%

The current 90-days correlation between Wells Fargo Short and Federated Short Intermediate Duration is 0.4 (i.e., Very 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

Good diversification

The correlation between Wells Fargo Short 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 Short 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 Short. 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

0.8	EASDX	Eaton Vance Short	Pair Corr
0.83	VFIRX	Vanguard Short Term	Pair Corr
0.83	VFISX	Vanguard Short Term	Pair Corr
0.91	VSGBX	Vanguard Short Term	Pair Corr
0.83	VSBIX	Vanguard Short Term	Pair Corr
0.8	VSGDX	Vanguard Short Term	Pair Corr
0.86	FUMBX	Fidelity Short Term	Pair Corr
0.8	ECLDX	Eaton Vance Short	Pair Corr
0.7	EALDX	Eaton Vance Short	Pair Corr
0.81	EILDX	Eaton Vance Short	Pair Corr
0.75	GPBFX	Gmo E Plus	Pair Corr
0.7	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against Wells Mutual Fund

0.51	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.44	TEGYX	Mid Cap Growth	Pair Corr
0.39	HFCGX	Hennessy Nerstone Growth	Pair Corr
0.62	FSRBX	Banking Portfolio Banking	Pair Corr
0.6	BAC	Bank of America Aggressive Push	Pair Corr
0.52	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.45	HPQ	HP Inc	Pair Corr
0.42	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.39	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.38	DIS	Walt Disney Aggressive Push	Pair Corr
0.35	PRDSX	T Rowe Price	Pair Corr
0.33	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	FSHIX	BXDCX	VEIEX	PRVBX	PACEX	BSGAX
FSHIX		0.56	0.36	0.45	0.63	0.75	FSHIX
BXDCX	0.56		0.61	0.88	0.77	0.87	BXDCX
VEIEX	0.36	0.61		0.67	0.87	0.41	VEIEX
PRVBX	0.45	0.88	0.67		0.73	0.76	PRVBX
PACEX	0.63	0.77	0.87	0.73		0.67	PACEX
BSGAX	0.75	0.87	0.41	0.76	0.67		BSGAX
	FSHIX	BXDCX	VEIEX	PRVBX	PACEX	BSGAX

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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
FSHIX	0.07	0.00	(0.56)	0.06	0.05	(0.14)	0.20	(0.20)	0.80
BXDCX	0.09	0.01	(0.83)	(0.50)	0.00	(0.16)	0.22	(0.11)	0.65
VEIEX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.55	(1.68)	4.60
PRVBX	0.09	0.00	(0.93)	0.33	0.00	(0.10)	0.20	(0.20)	0.53
PACEX	0.12	0.00	(0.72)	0.33	0.00	(0.22)	0.32	(0.22)	0.97
BSGAX	0.09	0.00	(0.76)	(0.12)	0.00	(0.16)	0.24	(0.12)	0.72

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