Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Advantage
VMPAX Fund  USD 8.74  0.02  0.23%   
The current 90-days correlation between Wells Fargo Advantage and Short Term Municipal Bond is 0.59 (i.e., Very weak 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 Advantage and DJI is -0.02 (i.e., Good 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 World Market Map 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

  1.0DHICX Wells Fargo AdvantagePairCorr
  0.99VMPYX Wells Fargo AdvantagePairCorr
  0.92SADAX Wells Fargo UltraPairCorr
  0.92SADIX Wells Fargo UltraPairCorr
  0.91EMGYX Wells Fargo EmergingPairCorr
  0.91EMGNX Wells Fargo EmergingPairCorr
  0.92EMGCX Wells Fargo EmergingPairCorr
  0.92EMGAX Wells Fargo EmergingPairCorr
  0.86SSHIX Wells Fargo ShortPairCorr
  0.95SSTHX Wells Fargo ShortPairCorr
  0.9SSTVX Wells Fargo ShortPairCorr
  0.91WSCGX Small Pany GrowthPairCorr
  0.92WSCOX Wells Fargo AdvantagePairCorr
  0.94WSBIX Short Term MunicipalPairCorr
  0.91STAFX Wells Fargo LargePairCorr
  0.75WSGIX Wells Fargo ShortPairCorr
  0.91STDFX Wells Fargo LargePairCorr
  0.87WSIAX Wells Fargo StrategicPairCorr
  0.92WSIDX Wells Fargo StrategicPairCorr
  0.9WSICX Wells Fargo StrategicPairCorr
  0.91WSINX Wells Fargo StrategicPairCorr
  0.94WSMAX Short Term MunicipalPairCorr
  0.91WSMCX Small Pany GrowthPairCorr
  0.92WSSCX Short Term MunicipalPairCorr
  0.94WSTMX Short Term MunicipalPairCorr
  0.92STOFX Wells Fargo LargePairCorr
  0.91STNFX Wells Fargo LargePairCorr
  0.91STSAX Wells Fargo MonPairCorr
  0.96STRIX Wells Fargo AdvantagePairCorr
  0.8STYAX Wells Fargo IncomePairCorr
  0.94STYIX Wells Fargo ShortPairCorr
  0.91SCNSX Wells Fargo MonPairCorr
  0.91SCSDX 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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