Wells Fargo Correlations

WFC Stock

USD 76.90 0.94 1.24%

The current 90-days correlation between Wells Fargo and Bank of America is 0.89 (i.e., Very poor 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.

Wells Fargo Correlation With Market

Poor diversification

The correlation between Wells Fargo and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo 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. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

For information on how to trade Wells Stock refer to our How to Trade Wells Stock guide.

Moving together with Wells Stock

0.93	C	Citigroup Aggressive Push	Pair Corr
0.88	BK	Bank of New York Fiscal Year End 10th of January 2025	Pair Corr
0.73	CM	Canadian Imperial Bank Sell-off Trend	Pair Corr
0.99	BAC	Bank of America Aggressive Push	Pair Corr
0.92	BCS	Barclays PLC ADR	Pair Corr
0.77	BMO	Bank of Montreal Fiscal Year End 6th of December 2024	Pair Corr
0.64	BNS	Bank of Nova Scotia Earnings Call This Week	Pair Corr
0.97	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.9	NWG	Natwest Group PLC	Pair Corr
0.71	UBS	UBS Group AG	Pair Corr
0.7	HSBC	HSBC Holdings PLC	Pair Corr
0.9	MUFG	Mitsubishi UFJ Financial Sell-off Trend	Pair Corr
0.73	SMFG	Sumitomo Mitsui Financial	Pair Corr

Moving against Wells Stock

0.94	ING	ING Group NV	Pair Corr
0.79	TD	Toronto Dominion Bank Fiscal Year End 5th of December 2024	Pair Corr
0.76	JPM-PK	JPMorgan Chase	Pair Corr
0.66	JPM-PJ	JPMorgan Chase	Pair Corr
0.83	JPM-PM	JPMorgan Chase	Pair Corr
0.77	BAC-PQ	Bank of America	Pair Corr
0.76	JPM-PL	JPMorgan Chase	Pair Corr
0.69	BAC-PN	Bank of America	Pair Corr
0.49	BAC-PM	Bank of America	Pair Corr
0.76	BAC-PP	Bank of America	Pair Corr
0.72	WFC-PZ	Wells Fargo	Pair Corr
0.71	BAC-PO	Bank of America	Pair Corr
0.71	WFC-PC	Wells Fargo	Pair Corr
0.7	WFC-PA	Wells Fargo	Pair Corr
0.66	WFC-PD	Wells Fargo	Pair Corr

Related Correlations Analysis

	BAC	JPM	TD	NU	C	RY	CM	BMO	BNS	BCS
BAC		0.96	-0.73	0.21	0.94	0.47	0.74	0.76	0.67	0.91	BAC
JPM	0.96		-0.78	0.23	0.91	0.31	0.58	0.64	0.51	0.89	JPM
TD	-0.73	-0.78		-0.35	-0.61	-0.26	-0.46	-0.5	-0.22	-0.71	TD
NU	0.21	0.23	-0.35		0.14	0.13	0.18	0.09	-0.15	0.3	NU
C	0.94	0.91	-0.61	0.14		0.35	0.64	0.77	0.66	0.89	C
RY	0.47	0.31	-0.26	0.13	0.35		0.86	0.61	0.75	0.44	RY
CM	0.74	0.58	-0.46	0.18	0.64	0.86		0.8	0.87	0.7	CM
BMO	0.76	0.64	-0.5	0.09	0.77	0.61	0.8		0.81	0.8	BMO
BNS	0.67	0.51	-0.22	-0.15	0.66	0.75	0.87	0.81		0.63	BNS
BCS	0.91	0.89	-0.71	0.3	0.89	0.44	0.7	0.8	0.63		BCS
	BAC	JPM	TD	NU	C	RY	CM	BMO	BNS	BCS

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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

JPM	+ 0.96	BAC
C	+ 0.94	BAC
BCS	+ 0.91	BAC
C	+ 0.91	JPM
BCS	+ 0.89	JPM
BCS	+ 0.89	C

High negative correlations

TD	- 0.78	JPM
TD	- 0.73	BAC
BCS	- 0.71	TD
C	- 0.61	TD
BMO	- 0.5	TD
CM	- 0.46	TD

Risk-Adjusted Indicators

There is a big difference between Wells Stock performing well and Wells Fargo Company 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
BAC	1.08	0.10	0.17	0.19	0.66	(1.36)	2.19	(1.41)	9.84
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
TD	0.76	(0.13)	0.00	(0.17)	0.00	0.00	1.54	(1.40)	8.21
NU	1.87	(0.14)	(0.04)	0.00	2.78	(1.77)	4.01	(4.46)	14.51
C	1.40	(0.01)	0.07	0.11	1.41	(1.67)	3.56	(1.97)	10.33
RY	0.68	0.07	0.00	0.31	0.54	(0.78)	1.69	(0.90)	4.27
CM	0.74	0.24	0.22	0.69	0.32	(0.86)	1.80	(1.15)	6.96
BMO	0.81	0.05	0.01	0.18	1.18	(0.90)	1.64	(1.35)	6.73
BNS	0.72	0.22	0.17	0.93	0.43	(0.84)	1.85	(1.20)	4.91
BCS	1.67	(0.04)	0.01	0.09	2.11	(1.68)	3.35	(3.62)	10.17

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