Wells Fargo Advantage Fund Market Value
| WSCOX Fund | USD 12.94 0.21 1.60% |
| Symbol | Wells |
Wells Fargo 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Wells Fargo's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Wells Fargo.
| 05/07/2024 |
| 06/06/2024 |
If you would invest 0.00 in Wells Fargo on May 7, 2024 and sell it all today you would earn a total of 0.00 from holding Wells Fargo Advantage or generate 0.0% return on investment in Wells Fargo over 30 days. Wells Fargo is related to or competes with Hotchkis Wiley, HUMANA, Barloworld, Morningstar Unconstrained, High-yield Municipal, Via Renewables, and FT Cboe. Under normal circumstances, the fund invests at least 80 percent of the funds net assets in equity securities of small-c... More
Wells Fargo Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Wells Fargo's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Wells Fargo Advantage upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 4.39 | |||
| Value At Risk | (1.67) | |||
| Potential Upside | 1.72 |
Wells Fargo Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wells Fargo's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wells Fargo's standard deviation. In reality, there are many statistical measures that can use Wells Fargo historical prices to predict the future Wells Fargo's volatility.| Risk Adjusted Performance | (0.0008) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | (0.14) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Wells Fargo's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Wells Fargo Advantage Backtested Returns
Wells Fargo Advantage shows Sharpe Ratio of -8.0E-4, which attests that the fund had a -8.0E-4% return per unit of risk over the last 3 months. Wells Fargo Advantage exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Wells Fargo's Standard Deviation of 0.9859, mean deviation of 0.7721, and Market Risk Adjusted Performance of (0.13) to validate the risk estimate we provide. The entity maintains a market beta of 0.12, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Wells Fargo's returns are expected to increase less than the market. However, during the bear market, the loss of holding Wells Fargo is expected to be smaller as well.
Auto-correlation | -0.17 |
Insignificant reverse predictability
Wells Fargo Advantage has insignificant reverse predictability. Overlapping area represents the amount of predictability between Wells Fargo time series from 7th of May 2024 to 22nd of May 2024 and 22nd of May 2024 to 6th of June 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Wells Fargo Advantage price movement. The serial correlation of -0.17 indicates that over 17.0% of current Wells Fargo price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.17 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Wells Fargo Advantage lagged returns against current returns
Autocorrelation, which is Wells Fargo mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Wells Fargo's mutual fund expected returns. We can calculate the autocorrelation of Wells Fargo returns to help us make a trade decision. For example, suppose you find that Wells Fargo has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Wells Fargo regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Wells Fargo mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wells Fargo mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wells Fargo mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Wells Fargo Lagged Returns
When evaluating Wells Fargo's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wells Fargo mutual fund have on its future price. Wells Fargo autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Wells Fargo autocorrelation shows the relationship between Wells Fargo mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Wells Fargo Advantage.
Regressed Prices |
| Timeline |
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Other Information on Investing in Wells Mutual Fund
Wells Fargo financial ratios help investors to determine whether Wells Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Wells with respect to the benefits of owning Wells Fargo security.
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation |