Wells Fargo Correlations

WSIDX Fund

USD 8.96 0.01 0.11%

The current 90-days correlation between Wells Fargo Strategic and Wells Fargo Advantage is 0.24 (i.e., Modest 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 Strategic and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Strategic 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 Strategic. 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

0.77	PONAX	Pimco Income	Pair Corr
0.75	PONCX	Pimco Income	Pair Corr
0.78	PIPNX	Pimco Income	Pair Corr
0.77	PONRX	Pimco Income	Pair Corr
0.78	PONPX	Pimco Incme Fund	Pair Corr
0.78	PIINX	Pimco Income	Pair Corr
0.78	PIMIX	Pimco Income	Pair Corr
0.8	LBNDX	Lord Abbett Bond	Pair Corr
0.8	FSTAX	Fidelity Advisor Str	Pair Corr
0.8	FSRIX	Fidelity Advisor Str	Pair Corr
0.8	MGGYX	Mirova Global Green	Pair Corr
0.68	MGGAX	Mirova Global Green	Pair Corr
0.82	BXECX	Barings Emerging Markets	Pair Corr
0.82	BXEIX	Barings Emerging Markets	Pair Corr
0.82	BXEAX	Barings Emerging Markets	Pair Corr
0.62	HLDIX	Hartford Emerging	Pair Corr
0.66	HLDRX	Hartford Emerging	Pair Corr
0.66	HLDAX	Hartford Emerging	Pair Corr
0.61	HLDCX	Hartford Emerging	Pair Corr
0.65	HLDTX	Hartford Emerging	Pair Corr
0.66	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	WHYIX	WHYDX	WHYCX	WHYMX	DHICX	VMPRX	VMPYX	VMPAX	VMPIX
WHYIX		0.99	0.99	0.99	0.81	0.98	0.81	0.82	0.0	WHYIX
WHYDX	0.99		0.99	0.99	0.81	0.98	0.81	0.82	0.0	WHYDX
WHYCX	0.99	0.99		0.99	0.84	0.99	0.84	0.84	0.0	WHYCX
WHYMX	0.99	0.99	0.99		0.83	0.98	0.83	0.84	0.0	WHYMX
DHICX	0.81	0.81	0.84	0.83		0.84	0.96	0.98	0.0	DHICX
VMPRX	0.98	0.98	0.99	0.98	0.84		0.83	0.84	0.0	VMPRX
VMPYX	0.81	0.81	0.84	0.83	0.96	0.83		0.98	0.0	VMPYX
VMPAX	0.82	0.82	0.84	0.84	0.98	0.84	0.98		0.0	VMPAX
VMPIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		VMPIX
	WHYIX	WHYDX	WHYCX	WHYMX	DHICX	VMPRX	VMPYX	VMPAX	VMPIX

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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

WHYDX	+ 0.99	WHYIX
WHYCX	+ 0.99	WHYIX
WHYMX	+ 0.99	WHYIX
WHYCX	+ 0.99	WHYDX
WHYMX	+ 0.99	WHYDX
WHYMX	+ 0.99	WHYCX

High negative correlations

VMPIX	- 0.0	VMPAX
VMPIX	- 0.0	VMPYX
VMPIX	- 0.0	VMPRX
VMPIX	- 0.0	DHICX
VMPIX	- 0.0	WHYMX
VMPIX	- 0.0	WHYCX

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
WHYIX	0.15	0.01	(0.25)	1.04	0.19	(0.21)	0.41	(0.31)	1.56
WHYDX	0.15	0.01	(0.28)	0.50	0.18	(0.21)	0.42	(0.31)	1.46
WHYCX	0.14	0.01	(0.26)	0.42	0.20	(0.20)	0.31	(0.31)	1.45
WHYMX	0.14	0.01	(0.25)	0.55	0.20	(0.20)	0.32	(0.31)	1.56
DHICX	0.08	0.00	(0.48)	0.12	0.12	(0.15)	0.22	(0.22)	0.79
VMPRX	0.09	0.00	(0.44)	0.04	0.08	(0.16)	0.23	(0.23)	0.79
VMPYX	0.09	0.01	(0.49)	0.02	0.09	(0.17)	0.23	(0.22)	0.79
VMPAX	0.09	0.00	(0.47)	0.05	0.10	(0.16)	0.23	(0.23)	0.79
VMPIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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