Wells Fargo Correlations

SADAX Fund

USD 8.81 0.01 0.11%

The current 90-days correlation between Wells Fargo Ultra and Us Government Securities is 0.45 (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

Significant diversification

The correlation between Wells Fargo Ultra and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Ultra and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Wells Fargo Ultra. 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 nation.

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

0.95	SADIX	Wells Fargo Ultra	Pair Corr
0.91	SSTHX	Wells Fargo Short	Pair Corr
0.66	WSCOX	Wells Fargo Advantage	Pair Corr
0.81	STAFX	Wells Fargo Large	Pair Corr
0.81	STDFX	Wells Fargo Large	Pair Corr
0.8	STOFX	Wells Fargo Large	Pair Corr
0.81	STNFX	Wells Fargo Large	Pair Corr
0.96	STYIX	Wells Fargo Short	Pair Corr
0.61	SCNSX	Wells Fargo Mon	Pair Corr
0.61	SCSDX	Wells Fargo Mon	Pair Corr

Moving against Wells Mutual Fund

0.6	MNTRX	Total Return Bond	Pair Corr
0.59	STYAX	Wells Fargo Income	Pair Corr

Related Correlations Analysis

	UGSFX	GVPIX	PGIQX	DIPXX	LCCXX	JGIFX
UGSFX		0.97	0.97	-0.79	0.0	0.98	UGSFX
GVPIX	0.97		0.95	-0.85	0.0	0.96	GVPIX
PGIQX	0.97	0.95		-0.76	0.0	1.0	PGIQX
DIPXX	-0.79	-0.85	-0.76		0.0	-0.77	DIPXX
LCCXX	0.0	0.0	0.0	0.0		0.0	LCCXX
JGIFX	0.98	0.96	1.0	-0.77	0.0		JGIFX
	UGSFX	GVPIX	PGIQX	DIPXX	LCCXX	JGIFX

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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

JGIFX	+ 1.0	PGIQX
JGIFX	+ 0.98	UGSFX
GVPIX	+ 0.97	UGSFX
PGIQX	+ 0.97	UGSFX
JGIFX	+ 0.96	GVPIX
PGIQX	+ 0.95	GVPIX

High negative correlations

DIPXX	- 0.85	GVPIX
DIPXX	- 0.79	UGSFX
JGIFX	- 0.77	DIPXX
DIPXX	- 0.76	PGIQX
JGIFX	- 0.0	LCCXX
LCCXX	- 0.0	DIPXX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
UGSFX	0.23	(0.03)	0.55	0.41	(0.51)	1.40
GVPIX	0.80	(0.07)	0.36	1.61	(1.89)	5.20
PGIQX	0.23	(0.04)	(0.48)	0.50	(0.64)	1.41
DIPXX	0.03	0.01	(0.37)	0.00	0.00	1.01
LCCXX	0.00	0.00	0.00	0.00	0.00	0.00
JGIFX	0.24	(0.04)	(0.57)	0.50	(0.51)	1.41

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