Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Emerging
EMGDX Fund  USD 31.24  0.07  0.22%   
The current 90-days correlation between Wells Fargo Emerging and Wells Fargo Strategic is -0.05 (i.e., Good 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

Significant diversification

The correlation between Wells Fargo Emerging and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Emerging 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 Emerging. 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

  0.91VMPRX Wells Fargo StrategicPairCorr
  0.93SSTYX Wells Fargo ShortPairCorr
  0.98WSCJX Wells Fargo SmallPairCorr
  0.98WSCRX Wells Fargo AdvantagePairCorr
  0.99STFFX Wells Fargo LargePairCorr
  0.96WSSRX Wells Fargo ShortPairCorr
  0.75STYJX Wells Fargo CorePairCorr
  0.98WTLVX Wells Fargo LargePairCorr
  0.97SCSRX Wells Fargo MonPairCorr
  0.94SCVJX Wells Fargo SmallPairCorr
  0.64WTRIX Wells Fargo AdvantagePairCorr
  0.96WUSRX Wells Fargo UltraPairCorr
  0.94IPBJX Wells Fargo RealPairCorr
  0.97WDSAX Allspring DisciplinedPairCorr
  0.99EQIRX Wells Fargo EmergingPairCorr
  0.96WEGRX Allspring Emerging GrowthPairCorr
  0.98WENRX Wells Fargo EnterprisePairCorr
  0.98WFATX Wells Fargo IndexPairCorr
  0.65WFCMX Wells Fargo FdsPairCorr
  0.96WFDRX Wells Fargo DiscoveryPairCorr
  0.97WFPRX Wells Fargo SpecialPairCorr
  0.9WFRTX Wells Fargo IntermediatePairCorr
  0.99SGRHX Wells Fargo GrowthPairCorr
  0.87ESPRX Wells Fargo AdvantagePairCorr
  0.77MSDRX Wells Fargo ShortPairCorr
  0.98WICRX Allspring SpecialPairCorr
  0.98EVSRX Wells Fargo DisciplinedPairCorr
  0.98EGORX Wells Fargo LargePairCorr
  0.98EIVFX Wells Fargo IntrinsicPairCorr
  0.99EKJFX Wells Fargo PremierPairCorr
  0.98EKSRX Wells Fargo DiversifiedPairCorr
  0.98VEMAX Vanguard Emerging MarketsPairCorr
  0.98VEIEX Vanguard Emerging MarketsPairCorr
  0.98VEMIX Vanguard Emerging MarketsPairCorr

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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