Wells Fargo Advantage Fund Market Value
| VMPYX Fund | USD 8.72 0.01 0.11% |
| Symbol | Wells |
Wells Fargo 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Wells Fargo's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Wells Fargo.
| 05/12/2022 |
| 05/01/2024 |
If you would invest 0.00 in Wells Fargo on May 12, 2022 and sell it all today you would earn a total of 0.00 from holding Wells Fargo Advantage or generate 0.0% return on investment in Wells Fargo over 720 days. Wells Fargo is related to or competes with Municipal Bond, Nuveen Limited, Ultra Short, and Wells Fargo. The fund normally invests at least 80 percent of the funds net assets in municipal securities whose interest is exempt f... More
Wells Fargo Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Wells Fargo's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Wells Fargo Advantage upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1727 | |||
| Information Ratio | (0.46) | |||
| Maximum Drawdown | 0.6873 | |||
| Value At Risk | (0.23) | |||
| Potential Upside | 0.2288 |
Wells Fargo Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wells Fargo's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wells Fargo's standard deviation. In reality, there are many statistical measures that can use Wells Fargo historical prices to predict the future Wells Fargo's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.31) | |||
| Treynor Ratio | (3.14) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Wells Fargo's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Wells Fargo Advantage Backtested Returns
Wells Fargo Advantage shows Sharpe Ratio of -0.0683, which attests that the fund had a -0.0683% return per unit of risk over the last 3 months. Wells Fargo Advantage exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Wells Fargo's Downside Deviation of 0.1727, mean deviation of 0.0771, and Market Risk Adjusted Performance of (3.13) to validate the risk estimate we provide. The entity maintains a market beta of 0.0015, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Wells Fargo's returns are expected to increase less than the market. However, during the bear market, the loss of holding Wells Fargo is expected to be smaller as well.
Auto-correlation | 0.79 |
Good predictability
Wells Fargo Advantage has good predictability. Overlapping area represents the amount of predictability between Wells Fargo time series from 12th of May 2022 to 7th of May 2023 and 7th of May 2023 to 1st of May 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Wells Fargo Advantage price movement. The serial correlation of 0.79 indicates that around 79.0% of current Wells Fargo price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.79 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Wells Fargo Advantage lagged returns against current returns
Autocorrelation, which is Wells Fargo mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Wells Fargo's mutual fund expected returns. We can calculate the autocorrelation of Wells Fargo returns to help us make a trade decision. For example, suppose you find that Wells Fargo has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Wells Fargo regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Wells Fargo mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wells Fargo mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wells Fargo mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Wells Fargo Lagged Returns
When evaluating Wells Fargo's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wells Fargo mutual fund have on its future price. Wells Fargo autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Wells Fargo autocorrelation shows the relationship between Wells Fargo mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Wells Fargo Advantage.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Check out Wells Fargo Correlation, Wells Fargo Volatility and Wells Fargo Alpha and Beta module to complement your research on Wells Fargo. For more information on how to buy Wells Mutual Fund please use our How to Invest in Wells Fargo guide.You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Wells Fargo technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.