Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Global
EKGIX Fund  USD 42.51  0.33  0.78%   
The current 90-days correlation between Wells Fargo Global and Wells Fargo Growth is 0.61 (i.e., Poor 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

Very poor diversification

The correlation between Wells Fargo Global and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Global and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Wells Fargo Global. 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

  0.7WABIX Wells Fargo AdvantagePairCorr
  0.74WSCGX Small Pany GrowthPairCorr
  0.68WSCOX Wells Fargo AdvantagePairCorr
  0.7WARAX Wells Fargo AdvantagePairCorr
  0.69WARDX Wells Fargo AdvantagePairCorr
  0.68WARCX Wells Fargo AdvantagePairCorr
  0.61WSINX Wells Fargo StrategicPairCorr
  0.75WSMCX Small Pany GrowthPairCorr
  0.69STSAX Wells Fargo MonPairCorr
  0.67SCNSX Wells Fargo MonPairCorr
  0.68SCSDX Wells Fargo MonPairCorr

Related Correlations Analysis

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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.

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