Wells Fargo Correlations

WSGIX Fund

USD 8.92 0.02 0.22%

The current 90-days correlation between Wells Fargo Short and Flakqx is 0.05 (i.e., Significant 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

Very good diversification

The correlation between Wells Fargo Short and DJI is -0.35 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Short 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 Short. 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 gross domestic product.

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

0.8	SADAX	Wells Fargo Ultra	Pair Corr
0.74	SADIX	Wells Fargo Ultra	Pair Corr
0.76	SSHIX	Wells Fargo Short	Pair Corr
0.78	SSTVX	Wells Fargo Short	Pair Corr

Moving against Wells Mutual Fund

0.55	WARCX	Wells Fargo Advantage	Pair Corr
0.54	WARAX	Wells Fargo Advantage	Pair Corr
0.53	WARDX	Wells Fargo Advantage	Pair Corr
0.52	WABIX	Wells Fargo Advantage	Pair Corr
0.41	SCTAX	California Tax Free	Pair Corr

Related Correlations Analysis

	FLAKQX	IAADX	FBANJX	WMCANX	FMFTX	FKHEMX
FLAKQX		0.8	0.96	0.93	0.93	0.98	FLAKQX
IAADX	0.8		0.84	0.76	0.83	0.79	IAADX
FBANJX	0.96	0.84		0.9	0.97	0.98	FBANJX
WMCANX	0.93	0.76	0.9		0.87	0.93	WMCANX
FMFTX	0.93	0.83	0.97	0.87		0.94	FMFTX
FKHEMX	0.98	0.79	0.98	0.93	0.94		FKHEMX
	FLAKQX	IAADX	FBANJX	WMCANX	FMFTX	FKHEMX

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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
FLAKQX	1.19	0.09	0.04	(1.22)	2.04	(1.04)	1.96	(3.05)	12.35
IAADX	0.25	0.01	0.03	(0.13)	0.40	(0.30)	0.34	(0.46)	2.12
FBANJX	0.90	0.01	0.01	(0.16)	1.38	(0.89)	1.60	(2.19)	9.15
WMCANX	0.87	0.06	0.04	0.06	1.38	(0.86)	1.72	(2.02)	8.60
FMFTX	1.09	0.08	0.05	(0.58)	1.62	(1.21)	2.18	(2.49)	11.37
FKHEMX	1.18	0.08	0.04	(1.04)	1.80	(1.17)	2.36	(2.60)	12.46

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