Wells Fargo Correlations

WGSDX Fund

USD 9.54 0.02 0.21%

The current 90-days correlation between Wells Fargo Government and Delaware Investments Ultrashort is -0.1 (i.e., Good 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 Government and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Government 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 Government. 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

0.67	SSHIX	Wells Fargo Short	Pair Corr
0.79	SSTVX	Wells Fargo Short	Pair Corr
0.79	WSGIX	Wells Fargo Short	Pair Corr
0.74	WSIAX	Wells Fargo Strategic	Pair Corr
0.65	WSICX	Wells Fargo Strategic	Pair Corr
0.67	WSINX	Wells Fargo Strategic	Pair Corr
0.99	STYAX	Wells Fargo Income	Pair Corr
0.67	SCTCX	California Tax Free	Pair Corr

Moving against Wells Mutual Fund

0.59	SADAX	Wells Fargo Ultra	Pair Corr
0.56	SADIX	Wells Fargo Ultra	Pair Corr
0.34	SSTHX	Wells Fargo Short	Pair Corr
0.35	STYIX	Wells Fargo Short	Pair Corr

Related Correlations Analysis

	DULTX	FZOMX	KYSMX	ASCLX	ATOAX
DULTX		-0.09	-0.22	-0.06	0.85	DULTX
FZOMX	-0.09		0.78	-0.2	-0.4	FZOMX
KYSMX	-0.22	0.78		-0.14	-0.46	KYSMX
ASCLX	-0.06	-0.2	-0.14		0.21	ASCLX
ATOAX	0.85	-0.4	-0.46	0.21		ATOAX
	DULTX	FZOMX	KYSMX	ASCLX	ATOAX

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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

ATOAX	+ 0.85	DULTX
KYSMX	+ 0.78	FZOMX
ATOAX	+ 0.21	ASCLX

High negative correlations

ATOAX	- 0.46	KYSMX
ATOAX	- 0.4	FZOMX
KYSMX	- 0.22	DULTX
ASCLX	- 0.2	FZOMX
ASCLX	- 0.14	KYSMX
FZOMX	- 0.09	DULTX

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
DULTX	0.05	0.01	(1.15)	0.10	(0.10)	0.81
FZOMX	0.07	(0.02)	(1.29)	0.21	(0.10)	0.52
KYSMX	0.06	(0.02)	(0.73)	0.19	(0.19)	0.58
ASCLX	0.47	(0.08)	(0.11)	0.74	(0.93)	8.96
ATOAX	0.02	0.00	(0.32)	0.00	0.00	0.40

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