Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Diversified
EKBDX Fund  USD 14.83  0.06  0.41%   
The current 90-days correlation between Wells Fargo Diversified and Wells Fargo Diversified is 0.01 (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

Poor diversification

The correlation between Wells Fargo Diversified and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Diversified and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Wells Fargo Diversified. 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 unemployment.
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

  0.91STRIX Wells Fargo AdvantagePairCorr
  0.97SCSDX Wells Fargo MonPairCorr
  0.91WCAFX Wealthbuilder ConservativePairCorr
  0.91WCCFX Wealthbuilder ConservativePairCorr
  0.97WEMIX Emerging GrowthPairCorr
  0.96WEMAX Emerging GrowthPairCorr
  0.92WFEFX Wells Fargo InternationalPairCorr
  0.93WFSTX Specialized TechnologyPairCorr
  0.98WGBIX Wells Fargo SpectrumPairCorr
  0.91WITIX Intermediate Tax/amt-freePairCorr
  0.96SMAVX Ultra Short TermPairCorr
  0.97WMBFX Wealthbuilder ModeratePairCorr
  0.99CBLSX Cb Large CapPairCorr
  0.99CBLLX Cb Large CapPairCorr
  0.99EKBCX Wells Fargo DiversifiedPairCorr
  0.93EKIZX Wells Fargo AdjustablePairCorr
  0.99EKSDX Wells Fargo DiversifiedPairCorr
  0.99FFIFX American FundsPairCorr
  0.99FAIFX American FundsPairCorr
  0.99IFACX Income FundPairCorr
  0.98IFAFX Income FundPairCorr
  0.97AMECX Income FundPairCorr
  0.98RIDBX Income FundPairCorr
  0.98CIMEX Income FundPairCorr
  0.99RIDFX Income FundPairCorr
  0.98CIMCX Income FundPairCorr
  0.99CIMFX Income FundPairCorr
  0.76GAAKX Gmo Alternative AlloPairCorr
  0.76GAAGX Gmo Alternative AlloPairCorr
  0.7GPBFX Gmo E PlusPairCorr
  0.99MXEOX Great West EmergingPairCorr
  0.99AAIYX Alger Mid Cap Steady GrowthPairCorr

Moving against Wells Mutual Fund

  0.46GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

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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.

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