Wells Fargo Correlations

SSHIX Fund

USD 8.63 0.02 0.23%

The current 90-days correlation between Wells Fargo Short and Knights Of Umbus is -0.22 (i.e., Very 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

Good diversification

The correlation between Wells Fargo Short Term and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Short Term 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 Short Term. 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 gross domestic product.

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

0.62	DHICX	Wells Fargo Advantage	Pair Corr
0.61	VMPAX	Wells Fargo Advantage	Pair Corr
0.83	SADAX	Wells Fargo Ultra	Pair Corr
0.88	SADIX	Wells Fargo Ultra	Pair Corr
0.73	EMGNX	Wells Fargo Emerging	Pair Corr
0.85	WABIX	Wells Fargo Advantage	Pair Corr
0.73	SSTHX	Wells Fargo Short	Pair Corr
0.73	WARCX	Wells Fargo Advantage	Pair Corr
0.93	SCTAX	California Tax Free	Pair Corr
0.63	WCAFX	Wealthbuilder Conservative	Pair Corr
0.76	IPBAX	Inflation Protected	Pair Corr
0.77	IPBNX	Wells Fargo Real	Pair Corr
0.61	EACFX	Wells Fargo Advantage	Pair Corr
0.77	WFIPX	Wells Fargo Income	Pair Corr
0.61	SGVDX	Wells Fargo Government	Pair Corr
0.94	WHYIX	Wells Fargo Advantage	Pair Corr
0.94	WHYCX	Wells Fargo Advantage	Pair Corr
0.94	WHYMX	Wells Fargo Advantage	Pair Corr
0.83	MBFAX	Total Return Bond	Pair Corr
0.64	EVSTX	Wells Fargo Disciplined	Pair Corr
0.67	WMBFX	Wealthbuilder Moderate	Pair Corr
0.93	WMFAX	Municipal Bond	Pair Corr
0.73	EKBCX	Wells Fargo Diversified	Pair Corr
0.83	EKBAX	Wells Fargo Diversified	Pair Corr
0.7	VBIRX	Vanguard Short Term	Pair Corr
0.65	VFSUX	Vanguard Short Term	Pair Corr

Moving against Wells Mutual Fund

0.79	ESPAX	Wells Fargo Advantage	Pair Corr
0.51	ESPCX	Wells Fargo Advantage	Pair Corr
0.45	SCSAX	Wells Fargo Mon	Pair Corr
0.61	EKGIX	Wells Fargo Global	Pair Corr

Related Correlations Analysis

	KCGSX	LGPSX	RETSX	LMUSX	FLRAX
KCGSX		0.91	0.96	0.97	0.89	KCGSX
LGPSX	0.91		0.84	0.87	0.95	LGPSX
RETSX	0.96	0.84		0.95	0.86	RETSX
LMUSX	0.97	0.87	0.95		0.89	LMUSX
FLRAX	0.89	0.95	0.86	0.89		FLRAX
	KCGSX	LGPSX	RETSX	LMUSX	FLRAX

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
KCGSX	0.69	0.04	0.04	0.10	0.92	(0.69)	1.60	(1.46)	3.99
LGPSX	0.76	0.08	0.02	0.55	1.08	(0.72)	1.58	(1.76)	4.48
RETSX	0.55	0.00	(0.01)	0.06	0.87	(0.49)	1.14	(1.18)	3.55
LMUSX	0.56	0.03	0.03	0.10	0.76	(0.53)	1.25	(1.38)	3.59
FLRAX	0.58	0.07	0.02	0.54	0.89	(0.54)	1.35	(1.31)	3.70

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