Wells Fargo Correlations

WSGIX Fund

USD 8.91 0.01 0.11%

The current 90-days correlation between Wells Fargo Short and Abbey Capital Futures is 0.14 (i.e., Average 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 -0.1 (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

0.88	SADAX	Wells Fargo Ultra	Pair Corr
0.92	SADIX	Wells Fargo Ultra	Pair Corr
0.89	SSHIX	Wells Fargo Short	Pair Corr
0.88	SSTHX	Wells Fargo Short	Pair Corr
0.86	SSTVX	Wells Fargo Short	Pair Corr
0.61	WSBIX	Short Term Municipal	Pair Corr
0.67	WSMAX	Short Term Municipal	Pair Corr
0.61	WSTMX	Short Term Municipal	Pair Corr
0.84	STYIX	Wells Fargo Short	Pair Corr

Moving against Wells Mutual Fund

0.51	WSCGX	Small Pany Growth	Pair Corr
0.42	WSCOX	Wells Fargo Advantage	Pair Corr
0.4	EMGCX	Wells Fargo Emerging	Pair Corr
0.39	EMGAX	Wells Fargo Emerging	Pair Corr
0.38	EMGYX	Wells Fargo Emerging	Pair Corr
0.38	EMGNX	Wells Fargo Emerging	Pair Corr
0.6	STOFX	Wells Fargo Large	Pair Corr
0.59	WSMCX	Small Pany Growth	Pair Corr
0.59	STSAX	Wells Fargo Mon	Pair Corr
0.56	STAFX	Wells Fargo Large	Pair Corr
0.55	STDFX	Wells Fargo Large	Pair Corr
0.54	STNFX	Wells Fargo Large	Pair Corr
0.54	SCVFX	Small Pany Value	Pair Corr
0.52	SCVAX	Small Pany Value	Pair Corr
0.51	SCVIX	Small Pany Value	Pair Corr
0.51	SCVNX	Small Pany Value	Pair Corr
0.47	SCSDX	Wells Fargo Mon	Pair Corr
0.46	SCNSX	Wells Fargo Mon	Pair Corr

Related Correlations Analysis

	ABYIX	LIFAX	ABNTX	QMHIX	TCILX	FIFGX	MFTFX
ABYIX		0.54	-0.19	0.95	-0.19	0.63	0.9	ABYIX
LIFAX	0.54		0.55	0.57	0.45	0.7	0.59	LIFAX
ABNTX	-0.19	0.55		-0.13	0.9	0.12	0.1	ABNTX
QMHIX	0.95	0.57	-0.13		-0.11	0.57	0.91	QMHIX
TCILX	-0.19	0.45	0.9	-0.11		0.0	0.13	TCILX
FIFGX	0.63	0.7	0.12	0.57	0.0		0.5	FIFGX
MFTFX	0.9	0.59	0.1	0.91	0.13	0.5		MFTFX
	ABYIX	LIFAX	ABNTX	QMHIX	TCILX	FIFGX	MFTFX

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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

QMHIX	+ 0.95	ABYIX
MFTFX	+ 0.91	QMHIX
MFTFX	+ 0.9	ABYIX
TCILX	+ 0.9	ABNTX
FIFGX	+ 0.7	LIFAX
FIFGX	+ 0.63	ABYIX

High negative correlations

TCILX	- 0.19	ABYIX
ABNTX	- 0.19	ABYIX
QMHIX	- 0.13	ABNTX
TCILX	- 0.11	QMHIX
FIFGX	- 0.0	TCILX

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
ABYIX	0.33	0.04	(0.12)	(0.30)	0.41	(0.34)	0.64	(0.83)	2.11
LIFAX	0.11	0.01	(0.52)	0.50	0.00	(0.15)	0.26	(0.17)	0.78
ABNTX	0.13	(0.01)	(0.45)	(0.16)	0.15	(0.17)	0.30	(0.30)	0.79
QMHIX	0.67	0.10	0.00	(0.66)	0.96	(0.67)	1.36	(1.53)	3.96
TCILX	0.14	0.00	(0.47)	0.97	0.14	(0.19)	0.29	(0.29)	0.98
FIFGX	0.70	0.06	(0.03)	5.53	0.79	(0.82)	1.72	(1.49)	4.94
MFTFX	1.01	0.12	0.01	(0.90)	1.42	(1.00)	1.82	(2.26)	5.15

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