Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Advantage
EKWCX Fund  USD 51.64  1.14  2.16%   
The current 90-days correlation between Wells Fargo Advantage and Stone Ridge Diversified is 0.04 (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

Good diversification

The correlation between Wells Fargo Advantage and DJI is -0.07 (i.e., Good 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 Investing Opportunities 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 main economic indicators.
For more information on how to buy Wells Mutual Fund please use our How to Invest in Wells Fargo guide.

Moving against Wells Mutual Fund

  0.54SSTHX Wells Fargo ShortPairCorr
  0.44WSCOX Wells Fargo AdvantagePairCorr
  0.44WSBIX Short Term MunicipalPairCorr
  0.43SADAX Wells Fargo UltraPairCorr
  0.43SADIX Wells Fargo UltraPairCorr
  0.38WSCGX Small Pany GrowthPairCorr
  0.31VMPYX Wells Fargo AdvantagePairCorr
  0.41WSMAX Short Term MunicipalPairCorr
  0.38WSMCX Small Pany GrowthPairCorr
  0.33STRIX Wells Fargo AdvantagePairCorr
  0.32WSTMX Short Term MunicipalPairCorr
  0.31STSAX Wells Fargo MonPairCorr
  0.54STYIX Wells Fargo ShortPairCorr
  0.49SCNSX Wells Fargo MonPairCorr
  0.49SCSDX Wells Fargo MonPairCorr
  0.49SCVIX Small Pany ValuePairCorr
  0.49SCVFX Small Pany ValuePairCorr
  0.47SCVAX Small Pany ValuePairCorr

Related Correlations Analysis

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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   
BICPX
+ 0.98
CFAIX
PQCNX
+ 0.91
PGBAX
FHCOX
+ 0.8
SRDAX
BICPX
+ 0.78
PGBAX
CFAIX
+ 0.76
JPDVX
PGBAX
+ 0.74
CFAIX
  
High negative correlations   
FHCOX
- 0.76
PQCNX
FHCOX
- 0.67
PGBAX
PQCNX
- 0.52
SRDAX
PGBAX
- 0.4
SRDAX
FHCOX
- 0.28
BICPX
FHCOX
- 0.25
CFAIX

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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