Wells Fargo Correlations

WARAX Fund

USD 11.16 0.06 0.54%

The current 90-days correlation between Wells Fargo Advantage and Upright Growth Income is 0.66 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Wells Fargo Correlation With Market

Average diversification

The correlation between Wells Fargo Advantage and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Advantage 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 Advantage. 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

0.7	DHICX	Wells Fargo Advantage	Pair Corr
0.66	VMPAX	Wells Fargo Advantage	Pair Corr
0.64	EMGCX	Wells Fargo Emerging	Pair Corr
0.8	EMGAX	Wells Fargo Emerging	Pair Corr
0.93	WABIX	Wells Fargo Advantage	Pair Corr
0.93	WARCX	Wells Fargo Advantage	Pair Corr
0.69	WSIAX	Wells Fargo Strategic	Pair Corr
0.61	STRIX	Wells Fargo Advantage	Pair Corr
0.8	STYAX	Wells Fargo Income	Pair Corr
0.74	SCTAX	California Tax Free	Pair Corr
0.93	WCAFX	Wealthbuilder Conservative	Pair Corr
0.97	IPBAX	Inflation Protected	Pair Corr
0.97	IPBNX	Wells Fargo Real	Pair Corr
0.82	EQIIX	Wells Fargo Emerging	Pair Corr
0.71	EQIAX	Wells Fargo Emerging	Pair Corr
0.73	WEAYX	Wells Fargo Spectrum	Pair Corr
0.77	SFAAX	Wells Fargo Index	Pair Corr
0.71	WFINX	Index Fund Class	Pair Corr
0.7	SGVDX	Wells Fargo Government	Pair Corr

Related Correlations Analysis

	UPDDX	HIGCX	RPNCX	LMLRX	GCIGX	EIPIX	AUERX	LANIX
UPDDX		0.48	0.79	0.57	0.68	-0.13	0.07	0.66	UPDDX
HIGCX	0.48		0.58	0.64	0.47	0.1	0.45	0.7	HIGCX
RPNCX	0.79	0.58		0.78	0.74	0.2	0.41	0.8	RPNCX
LMLRX	0.57	0.64	0.78		0.76	0.48	0.59	0.97	LMLRX
GCIGX	0.68	0.47	0.74	0.76		0.34	0.37	0.72	GCIGX
EIPIX	-0.13	0.1	0.2	0.48	0.34		0.74	0.4	EIPIX
AUERX	0.07	0.45	0.41	0.59	0.37	0.74		0.56	AUERX
LANIX	0.66	0.7	0.8	0.97	0.72	0.4	0.56		LANIX
	UPDDX	HIGCX	RPNCX	LMLRX	GCIGX	EIPIX	AUERX	LANIX

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

LANIX	+ 0.97	LMLRX
LANIX	+ 0.8	RPNCX
RPNCX	+ 0.79	UPDDX
LMLRX	+ 0.78	RPNCX
GCIGX	+ 0.76	LMLRX
GCIGX	+ 0.74	RPNCX

High negative correlations

EIPIX

- 0.13

UPDDX

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
UPDDX	1.29	0.15	0.04	23.34	2.05	(1.22)	2.41	(3.50)	8.73
HIGCX	0.50	(0.05)	(0.08)	0.01	0.69	(0.49)	1.04	(1.12)	2.97
RPNCX	1.19	0.12	0.04	0.59	1.50	(1.33)	2.46	(2.28)	8.43
LMLRX	0.24	(0.01)	(0.14)	0.03	0.28	(0.26)	0.51	(0.57)	1.38
GCIGX	0.70	0.07	0.01	0.58	0.85	(0.72)	1.36	(1.61)	3.99
EIPIX	0.45	0.00	(0.06)	0.08	0.58	(0.47)	0.93	(0.99)	3.02
AUERX	1.04	(0.12)	0.00	(0.03)	0.00	0.00	1.96	(1.80)	4.33
LANIX	0.51	(0.02)	(0.03)	0.05	0.81	(0.47)	1.01	(1.21)	3.01

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