Wells Fargo Correlations

WGAYX Fund

USD 13.18 0.06 0.46%

The current 90-days correlation between Wells Fargo Spectrum and Franklin Gold Precious 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

Poor diversification

The correlation between Wells Fargo Spectrum and DJI is 0.6 (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

0.99	EMGYX	Wells Fargo Emerging	Pair Corr
0.98	WSCGX	Small Pany Growth	Pair Corr
0.98	WSCOX	Wells Fargo Advantage	Pair Corr
0.96	WSBIX	Short Term Municipal	Pair Corr
0.78	WSGIX	Wells Fargo Short	Pair Corr
0.93	WSIAX	Wells Fargo Strategic	Pair Corr
0.92	WSICX	Wells Fargo Strategic	Pair Corr
0.83	WSINX	Wells Fargo Strategic	Pair Corr
0.96	WSMAX	Short Term Municipal	Pair Corr
0.61	WSSCX	Short Term Municipal	Pair Corr
0.96	WSTMX	Short Term Municipal	Pair Corr
0.97	SCNSX	Wells Fargo Mon	Pair Corr

Moving against Wells Mutual Fund

0.46

SCTCX

California Tax Free

Pair Corr

Related Correlations Analysis

	FRGOX	FEGOX	MXKJX	GLRBX	FGDIX	RYPMX	UIPMX	USERX
FRGOX		0.95	0.46	0.56	0.89	0.88	0.84	0.98	FRGOX
FEGOX	0.95		0.25	0.39	0.88	0.83	0.85	0.92	FEGOX
MXKJX	0.46	0.25		0.93	0.33	0.54	0.2	0.56	MXKJX
GLRBX	0.56	0.39	0.93		0.52	0.72	0.37	0.65	GLRBX
FGDIX	0.89	0.88	0.33	0.52		0.96	0.98	0.87	FGDIX
RYPMX	0.88	0.83	0.54	0.72	0.96		0.89	0.9	RYPMX
UIPMX	0.84	0.85	0.2	0.37	0.98	0.89		0.81	UIPMX
USERX	0.98	0.92	0.56	0.65	0.87	0.9	0.81		USERX
	FRGOX	FEGOX	MXKJX	GLRBX	FGDIX	RYPMX	UIPMX	USERX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FRGOX	1.48	0.11	(0.01)	(4.19)	2.03	(1.44)	3.01	(3.21)	11.91
FEGOX	1.35	0.02	(0.05)	0.35	1.85	(1.39)	2.46	(2.99)	9.95
MXKJX	0.72	0.06	0.05	0.20	0.67	(0.89)	1.88	(1.43)	5.35
GLRBX	0.30	0.11	(0.07)	(3.16)	0.04	(0.33)	1.00	(0.71)	2.11
FGDIX	1.56	0.26	(0.01)	(0.10)	2.13	(1.59)	3.17	(3.72)	12.28
RYPMX	1.61	0.28	0.02	(0.21)	2.08	(1.70)	3.33	(3.64)	10.87
UIPMX	1.57	0.21	(0.03)	(0.06)	2.19	(1.60)	3.26	(3.57)	11.90
USERX	1.44	0.14	0.00	(14.48)	1.86	(1.43)	2.86	(3.05)	11.04

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