Wells Fargo Correlations

Mutual Funds . USA . 
Fund . Wells Fargo Spectrum
WGAYX Fund  USD 13.24  0.01  0.08%   
The current 90-days correlation between Wells Fargo Spectrum and Barings Global Floating is 0.11 (i.e., Average 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 Spectrum and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Spectrum and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wells Fargo Spectrum. 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 manufacturing.
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

  0.99FBONX American Funds AmericanPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  0.99ABALX American BalancedPairCorr
  0.99BALCX American BalancedPairCorr
  0.99BALFX American BalancedPairCorr
  0.99RLBCX American BalancedPairCorr
  0.99RLBBX American BalancedPairCorr
  0.99CLBAX American BalancedPairCorr
  0.99CLBEX American BalancedPairCorr
  0.99RLBFX American BalancedPairCorr
  0.97ASG Liberty All StarPairCorr
  0.92IIF Morgan Stanley IndiaPairCorr
  0.61IFN India ClosedPairCorr
  0.65CLM Cornerstone StrategicPairCorr
  0.66CRF Cornerstone StrategicPairCorr
  0.93USA Liberty All StarPairCorr
  0.97NFJ Virtus Dividend InterestPairCorr
  0.61JPM JPMorgan ChasePairCorr
  0.66IBM International BusinessPairCorr

Moving against Wells Mutual Fund

  0.59MCD McDonaldsPairCorr
  0.37TRV The Travelers CompaniesPairCorr
  0.33HPQ HP IncPairCorr

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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