Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Emerging
EMGNX Fund  USD 31.01  0.34  1.11%   
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 Emerging and DJI is 0.61 (i.e., Poor 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 board of governors.
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

  0.91DHICX Wells Fargo AdvantagePairCorr
  0.91VMPYX Wells Fargo AdvantagePairCorr
  0.92VMPAX Wells Fargo AdvantagePairCorr
  0.95SADAX Wells Fargo UltraPairCorr
  0.95SADIX Wells Fargo UltraPairCorr
  1.0EMGYX Wells Fargo EmergingPairCorr
  1.0EMGCX Wells Fargo EmergingPairCorr
  0.99EMGAX Wells Fargo EmergingPairCorr
  0.93SSHIX Wells Fargo ShortPairCorr
  0.63WABIX Wells Fargo AdvantagePairCorr
  0.93SSTVX Wells Fargo ShortPairCorr
  0.98WSCGX Small Pany GrowthPairCorr
  0.97WSCOX Wells Fargo AdvantagePairCorr
  0.95WSBIX Short Term MunicipalPairCorr
  0.61WARAX Wells Fargo AdvantagePairCorr
  0.61WARDX Wells Fargo AdvantagePairCorr
  0.97STAFX Wells Fargo LargePairCorr
  0.77WSGIX Wells Fargo ShortPairCorr
  0.97STDFX Wells Fargo LargePairCorr
  0.94WSIAX Wells Fargo StrategicPairCorr
  0.93WSIDX Wells Fargo StrategicPairCorr
  0.93WSICX Wells Fargo StrategicPairCorr
  0.94WSINX Wells Fargo StrategicPairCorr
  0.95WSMAX Short Term MunicipalPairCorr
  0.97WSMCX Small Pany GrowthPairCorr
  0.95WSSCX Short Term MunicipalPairCorr
  0.95WSTMX Short Term MunicipalPairCorr
  0.98STOFX Wells Fargo LargePairCorr
  0.97STNFX Wells Fargo LargePairCorr
  0.96STSAX Wells Fargo MonPairCorr
  0.92STRIX Wells Fargo AdvantagePairCorr
  0.77STYAX Wells Fargo IncomePairCorr
  0.98STYIX Wells Fargo ShortPairCorr
  0.96SCNSX Wells Fargo MonPairCorr
  0.96SCSDX Wells Fargo MonPairCorr
  0.97SCSAX Wells Fargo MonPairCorr

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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