Wells Fargo Correlations

SFAAX Fund

USD 42.89 4.82 12.66%

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 Index and DJI is 0.04 (i.e., Significant 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

0.61	VMPAX	Wells Fargo Advantage	Pair Corr
0.63	EMGNX	Wells Fargo Emerging	Pair Corr
0.77	EMGAX	Wells Fargo Emerging	Pair Corr
0.71	WCAFX	Wealthbuilder Conservative	Pair Corr
0.67	WCCFX	Wealthbuilder Conservative	Pair Corr
0.73	WCYFX	Wells Fargo Wealthbuilder	Pair Corr
0.76	EQIIX	Wells Fargo Emerging	Pair Corr

Related Correlations Analysis

	LEVIX	LEVOX	SWYFX	SLGFX	NEFSX	BMDSX	BMDIX	SWYMX	BOSOX	SMAPX
LEVIX		0.84	0.92	0.89	0.25	-0.3	-0.3	0.91	0.34	-0.02	LEVIX
LEVOX	0.84		0.75	0.71	0.13	-0.25	-0.25	0.73	0.35	-0.05	LEVOX
SWYFX	0.92	0.75		0.98	0.36	-0.18	-0.18	1.0	0.35	-0.13	SWYFX
SLGFX	0.89	0.71	0.98		0.43	-0.15	-0.15	0.98	0.34	-0.05	SLGFX
NEFSX	0.25	0.13	0.36	0.43		0.15	0.16	0.41	0.29	0.06	NEFSX
BMDSX	-0.3	-0.25	-0.18	-0.15	0.15		1.0	-0.17	0.13	0.02	BMDSX
BMDIX	-0.3	-0.25	-0.18	-0.15	0.16	1.0		-0.16	0.15	0.02	BMDIX
SWYMX	0.91	0.73	1.0	0.98	0.41	-0.17	-0.16		0.37	-0.08	SWYMX
BOSOX	0.34	0.35	0.35	0.34	0.29	0.13	0.15	0.37		0.56	BOSOX
SMAPX	-0.02	-0.05	-0.13	-0.05	0.06	0.02	0.02	-0.08	0.56		SMAPX
	LEVIX	LEVOX	SWYFX	SLGFX	NEFSX	BMDSX	BMDIX	SWYMX	BOSOX	SMAPX

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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	+ 0.98	SWYFX
SWYMX	+ 0.98	SLGFX
SWYFX	+ 0.92	LEVIX
SWYMX	+ 0.91	LEVIX

High negative correlations

BMDIX	- 0.3	LEVIX
BMDSX	- 0.3	LEVIX
BMDIX	- 0.25	LEVOX
BMDSX	- 0.25	LEVOX
BMDIX	- 0.18	SWYFX
BMDSX	- 0.18	SWYFX

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
LEVIX	1.04	0.00	0.02	0.08	1.22	(1.25)	2.41	(2.60)	6.08
LEVOX	1.04	0.09	0.01	3.66	1.21	(1.25)	2.41	(2.57)	5.99
SWYFX	0.38	(0.02)	(0.08)	0.05	0.54	(0.36)	0.85	(0.78)	2.25
SLGFX	0.57	(0.02)	(0.03)	0.05	0.84	(0.55)	1.19	(1.22)	3.33
NEFSX	0.59	0.00	(0.02)	0.00	0.85	(0.57)	1.15	(1.43)	3.84
BMDSX	0.90	(0.36)	0.00	(0.26)	0.00	0.00	1.35	(1.82)	3.83
BMDIX	0.87	(0.34)	0.00	(0.24)	0.00	0.00	1.40	(1.78)	3.81
SWYMX	0.49	(0.02)	(0.04)	0.05	0.67	(0.46)	1.03	(1.05)	2.77
BOSOX	0.69	(0.02)	(0.09)	(0.03)	0.82	(0.85)	1.77	(1.52)	4.12
SMAPX	0.60	0.01	(0.09)	0.01	0.80	(0.63)	1.19	(1.33)	3.11

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