Prudential Emerging Correlations

EMDCX Fund

USD 4.57 0.01 0.22%

The correlation of Prudential Emerging 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.

Prudential Emerging Correlation With Market

Average diversification

The correlation between Prudential Emerging Markets and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Prudential Emerging Markets. 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 main economic indicators.

Moving together with Prudential Mutual Fund

0.81	HYSCX	Prudential Short Duration	Pair Corr
1.0	EMDAX	Prudential Emerging	Pair Corr
1.0	EMDZX	Prudential Emerging	Pair Corr
0.82	PGAQX	Pgim Esg High	Pair Corr
0.82	PGAUX	Pgim Esg High	Pair Corr
0.83	PGAVX	Pgim Esg High	Pair Corr
0.75	PGIGX	Pgim Esg Short	Pair Corr
0.75	PGIPX	Pgim Esg Short	Pair Corr
0.65	PGIJX	Pgim Esg Short	Pair Corr
0.77	PGIKX	Pgim Esg Short	Pair Corr
0.96	PGTOX	Prudential Global Total	Pair Corr
0.84	PGVZX	Prudential Government	Pair Corr
0.89	PGVAX	Prudential Government	Pair Corr
0.84	PHECX	Prudential Global Total	Pair Corr
0.84	PHEAX	Prudential Global Total	Pair Corr
0.87	TGMBX	Prudential Porate Bond	Pair Corr
0.84	PHEZX	Prudential Global Total	Pair Corr

Moving against Prudential Mutual Fund

0.69	PGOAX	Prudential Jennison Small	Pair Corr
0.68	PGKZX	Pgim Jennison Technology	Pair Corr
0.49	PGNAX	Jennison Natural Res	Pair Corr

Related Correlations Analysis

	AEYXX	XFINX	SPAXX	FIDAX	SBFAX	IVMXX	PSSRX
AEYXX		0.0	0.0	0.0	0.0	0.0	0.0	AEYXX
XFINX	0.0		0.38	0.47	0.65	0.0	0.5	XFINX
SPAXX	0.0	0.38		-0.05	0.3	0.0	0.0	SPAXX
FIDAX	0.0	0.47	-0.05		0.83	0.0	0.99	FIDAX
SBFAX	0.0	0.65	0.3	0.83		0.0	0.88	SBFAX
IVMXX	0.0	0.0	0.0	0.0	0.0		0.0	IVMXX
PSSRX	0.0	0.5	0.0	0.99	0.88	0.0		PSSRX
	AEYXX	XFINX	SPAXX	FIDAX	SBFAX	IVMXX	PSSRX

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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

PSSRX	+ 0.99	FIDAX
PSSRX	+ 0.88	SBFAX
SBFAX	+ 0.83	FIDAX
SBFAX	+ 0.65	XFINX
PSSRX	+ 0.5	XFINX
FIDAX	+ 0.47	XFINX

High negative correlations

FIDAX	- 0.05	SPAXX
PSSRX	- 0.0	IVMXX
IVMXX	- 0.0	SBFAX
IVMXX	- 0.0	FIDAX
PSSRX	- 0.0	SPAXX
IVMXX	- 0.0	SPAXX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Emerging 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 Prudential Emerging'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
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XFINX	0.14	0.01	0.02	(0.23)	0.19	(0.17)	0.29	(0.28)	1.27
SPAXX	0.03	0.01	0.00	(0.32)	0.00	0.00	0.00	0.00	1.01
FIDAX	0.94	(0.08)	0.00	(0.07)	0.00	0.00	2.02	(2.86)	7.13
SBFAX	0.72	0.05	0.05	0.06	0.94	(0.80)	1.69	(1.32)	5.22
IVMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PSSRX	0.94	(0.06)	0.00	(0.06)	0.00	0.00	1.85	(2.57)	6.03

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