Wells Fargo Correlations

SFAAX Fund

USD 42.28 0.02 0.05%

The current 90-days correlation between Wells Fargo Index and Royce Total Return is -0.04 (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

Good diversification

The correlation between Wells Fargo Index and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Index 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 Index. 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

0.94	DHICX	Wells Fargo Advantage	Pair Corr
0.94	VMPAX	Wells Fargo Advantage	Pair Corr
0.9	SADAX	Wells Fargo Ultra	Pair Corr
0.89	EMGYX	Wells Fargo Emerging	Pair Corr
0.96	EMGNX	Wells Fargo Emerging	Pair Corr
0.96	EMGCX	Wells Fargo Emerging	Pair Corr
0.97	EMGAX	Wells Fargo Emerging	Pair Corr
0.95	WABIX	Wells Fargo Advantage	Pair Corr
0.92	SSTHX	Wells Fargo Short	Pair Corr
0.76	WSCGX	Small Pany Growth	Pair Corr
0.93	WSCOX	Wells Fargo Advantage	Pair Corr
0.93	WARCX	Wells Fargo Advantage	Pair Corr
0.87	WSGIX	Wells Fargo Short	Pair Corr
0.93	WSINX	Wells Fargo Strategic	Pair Corr
0.9	WSMAX	Short Term Municipal	Pair Corr
0.93	STYAX	Wells Fargo Income	Pair Corr
0.95	SCTAX	California Tax Free	Pair Corr
0.94	SCTCX	California Tax Free	Pair Corr
0.67	SCVFX	Small Pany Value	Pair Corr
0.99	WCAFX	Wealthbuilder Conservative	Pair Corr
0.99	WCCFX	Wealthbuilder Conservative	Pair Corr
0.9	WUSNX	Allspring Ultra Short	Pair Corr
0.94	WDHYX	Wells Fargo Short	Pair Corr
0.96	IPBAX	Inflation Protected	Pair Corr
0.87	SENAX	Wells Fargo Enterprise	Pair Corr
0.99	WEACX	Wealthbuilder Equity	Pair Corr
0.95	WEAFX	Wealthbuilder Equity	Pair Corr
0.9	SFCCX	California Limited Term	Pair Corr
0.93	SFCNX	Wells Fargo Advantage	Pair Corr
0.97	WFAIX	Wells Fargo Index	Pair Corr
0.76	WFDAX	Wells Fargo Discovery	Pair Corr
0.99	EACFX	Wells Fargo Advantage	Pair Corr
0.92	WFIPX	Wells Fargo Income	Pair Corr
0.92	WFLLX	Wells Fargo Large	Pair Corr

Related Correlations Analysis

	RYTFX	LEVIX	SWYFX	BMDSX	BMDIX	SLGFX	BOSOX	NEFSX	SWYMX	AMFAX
RYTFX		-0.13	0.32	0.2	0.2	0.31	0.88	0.38	0.34	0.05	RYTFX
LEVIX	-0.13		0.7	-0.49	-0.48	0.7	-0.14	0.52	0.69	0.74	LEVIX
SWYFX	0.32	0.7		-0.73	-0.73	0.99	0.07	0.89	1.0	0.9	SWYFX
BMDSX	0.2	-0.49	-0.73		1.0	-0.72	0.5	-0.64	-0.72	-0.78	BMDSX
BMDIX	0.2	-0.48	-0.73	1.0		-0.72	0.5	-0.64	-0.71	-0.78	BMDIX
SLGFX	0.31	0.7	0.99	-0.72	-0.72		0.06	0.9	0.99	0.9	SLGFX
BOSOX	0.88	-0.14	0.07	0.5	0.5	0.06		0.09	0.09	-0.15	BOSOX
NEFSX	0.38	0.52	0.89	-0.64	-0.64	0.9	0.09		0.89	0.84	NEFSX
SWYMX	0.34	0.69	1.0	-0.72	-0.71	0.99	0.09	0.89		0.9	SWYMX
AMFAX	0.05	0.74	0.9	-0.78	-0.78	0.9	-0.15	0.84	0.9		AMFAX
	RYTFX	LEVIX	SWYFX	BMDSX	BMDIX	SLGFX	BOSOX	NEFSX	SWYMX	AMFAX

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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

SWYMX	+ 1.0	SWYFX
BMDIX	+ 1.0	BMDSX
SLGFX	+ 0.99	SWYFX
SWYMX	+ 0.99	SLGFX
AMFAX	+ 0.9	SWYFX
NEFSX	+ 0.9	SLGFX

High negative correlations

AMFAX	- 0.78	BMDIX
AMFAX	- 0.78	BMDSX
BMDIX	- 0.73	SWYFX
BMDSX	- 0.73	SWYFX
SLGFX	- 0.72	BMDIX
SWYMX	- 0.72	BMDSX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RYTFX	0.86	(0.11)	(0.06)	0.00	1.02	(1.04)	2.08	(1.88)	6.37
LEVIX	0.91	(0.02)	0.01	0.06	1.18	(0.95)	1.80	(2.04)	7.03
SWYFX	0.34	0.03	0.00	0.13	0.30	(0.38)	0.82	(0.54)	2.93
BMDSX	0.68	(0.12)	0.00	(0.03)	0.00	0.00	1.48	(1.41)	4.52
BMDIX	0.68	(0.12)	0.00	(0.03)	0.00	0.00	1.42	(1.40)	4.52
SLGFX	0.49	0.02	0.02	0.10	0.56	(0.58)	1.17	(0.65)	4.34
BOSOX	0.78	(0.10)	(0.08)	0.00	0.88	(0.90)	1.90	(1.47)	5.74
NEFSX	0.51	0.09	(0.01)	(0.22)	0.71	(0.52)	1.23	(0.83)	4.83
SWYMX	0.44	0.03	0.02	0.11	0.45	(0.49)	1.07	(0.62)	3.80
AMFAX	0.43	0.11	0.03	(1.26)	0.45	(0.51)	0.93	(0.79)	2.96

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