Wells Fargo Correlations
| WFC-PY Preferred Stock | USD 23.82 0.17 0.72% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Wells Fargo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wells Fargo moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Wells Fargo and NYA is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo and NYA in the same portfolio, assuming nothing else is changed.
Wells |
The ability to find closely correlated positions to Wells Fargo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wells Fargo when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Wells Fargo - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Wells Fargo to buy it.
Moving together with Wells Preferred Stock
| 0.62 | TD | Toronto Dominion Bank Fiscal Year End 5th of December 2024 | PairCorr |
| 0.82 | BNS | Bank of Nova Scotia Fiscal Year End 26th of November 2024 | PairCorr |
| 0.95 | JPM-PK | JPMorgan Chase | PairCorr |
| 0.93 | JPM-PJ | JPMorgan Chase | PairCorr |
| 0.95 | JPM-PM | JPMorgan Chase | PairCorr |
| 0.95 | JPM-PL | JPMorgan Chase | PairCorr |
Moving against Wells Preferred Stock
| 0.63 | HSBC | HSBC Holdings PLC | PairCorr |
| 0.55 | NTB | Bank of NT | PairCorr |
| 0.52 | WFC | Wells Fargo Financial Report 12th of July 2024 | PairCorr |
| 0.49 | BCS | Barclays PLC ADR | PairCorr |
| 0.46 | SAN | Banco Santander SA | PairCorr |
| 0.43 | ING | ING Group NV | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Wells Preferred Stock performing well and Wells Fargo Company 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BAC-PE | 0.41 | 0.07 | 0.08 | 0.21 | 0.48 | 0.84 | 3.34 | |||
| WFC-PY | 0.55 | (0.06) | 0.00 | (0.04) | 0.00 | 1.03 | 3.83 | |||
| BAC-PB | 0.31 | 0.00 | (0.05) | 0.05 | 0.42 | 0.48 | 2.13 | |||
| CICHF | 1.55 | 0.33 | 0.09 | 85.24 | 1.45 | 4.92 | 11.11 | |||
| BML-PL | 0.44 | 0.04 | 0.03 | 0.13 | 0.51 | 0.99 | 3.09 | |||
| ACGBF | 0.74 | 0.17 | 0.00 | (0.61) | 0.00 | 2.33 | 19.32 | |||
| IDCBF | 1.15 | 0.21 | 0.05 | 0.42 | 1.23 | 5.88 | 17.41 | |||
| BML-PJ | 0.40 | 0.06 | 0.06 | 0.16 | 0.44 | 1.11 | 3.15 | |||
| CMWAY | 1.01 | 0.02 | 0.03 | 0.05 | 1.34 | 1.81 | 5.66 | |||
| BML-PH | 0.45 | 0.08 | 0.07 | 0.25 | 0.55 | 0.91 | 2.97 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Wells Fargo without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Wells Fargo Corporate Management
Elected by the shareholders, the Wells Fargo's board of directors comprises two types of representatives: Wells Fargo inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wells. The board's role is to monitor Wells Fargo's management team and ensure that shareholders' interests are well served. Wells Fargo's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Wells Fargo's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Muneera Carr | Ex Officer | Profile | |
| Saul Beurden | EVP Technology | Profile | |
| Charles Scharf | CEO Pres | Profile | |
| Scott Powell | EVP COO | Profile | |
| Jonathan Weiss | Sr Banking | Profile | |
| John Campbell | Director Relations | Profile | |
| JD Esq | Sr Counsel | Profile |
Already Invested in Wells Fargo?
The danger of trading Wells Fargo is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Wells Fargo is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Wells Fargo. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Wells Fargo is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wells Fargo. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For more information on how to buy Wells Preferred Stock please use our How to Invest in Wells Fargo guide.Note that the Wells Fargo information on this page should be used as a complementary analysis to other Wells Fargo's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Complementary Tools for Wells Preferred Stock analysis
When running Wells Fargo's price analysis, check to measure Wells Fargo's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Wells Fargo is operating at the current time. Most of Wells Fargo's value examination focuses on studying past and present price action to predict the probability of Wells Fargo's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Wells Fargo's price. Additionally, you may evaluate how the addition of Wells Fargo to your portfolios can decrease your overall portfolio volatility.
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