Given investment horizon of 30 days, NYSE is expected to under-perform the Wells. But the index apears to be less risky and, when comparing its historical volatility, NYSE is 2.57 times less risky than Wells. The index trades about -0.32 of its potential returns per unit of risk. The Wells Fargo Advantage Precious Metals A is currently generating about -0.12 of returns per unit of risk over similar time horizon. If you would invest 6,683 in Wells Fargo Advantage Precious Metals A on April 24, 2012 and sell it today you would lose (561) from holding Wells Fargo Advantage Precious Metals A or give up 8.39% of portfolio value over 30 days.
Diversification
Very weak diversification
Overlapping area represents amount of risk that can be diversified away by holding NYSE and Wells Fargo Advantage Precious in the same portfolio (assuming nothing else is changed)
Over the last 30 days Wells Fargo Advantage Precious Metals A has generated negative risk-adjusted returns adding no value to investors with long positions.
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