Prudential Emerging Correlations

EMDZX Fund

USD 4.55 0.01 0.22%

The current 90-days correlation between Prudential Emerging and Inverse Government Long is -0.32 (i.e., Very good diversification). 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

Significant diversification

The correlation between Prudential Emerging Markets and DJI is 0.07 (i.e., Significant 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 nation.

Moving together with Prudential Mutual Fund

0.68	PWJZX	Prudential Jennison	Pair Corr
0.68	PWJAX	Prudential Jennison	Pair Corr
0.69	PWJCX	Prudential Jennison	Pair Corr
1.0	EMDCX	Prudential Emerging	Pair Corr
1.0	EMDAX	Prudential Emerging	Pair Corr
0.77	PGIJX	Pgim Esg Short	Pair Corr
0.94	PGTOX	Prudential Global Total	Pair Corr
0.86	PGVZX	Prudential Government	Pair Corr
0.87	PGVAX	Prudential Government	Pair Corr
0.85	PHECX	Prudential Global Total	Pair Corr
0.82	PHEAX	Prudential Global Total	Pair Corr
0.89	TGMBX	Prudential Porate Bond	Pair Corr

Moving against Prudential Mutual Fund

0.74	PFSZX	Prudential Financial	Pair Corr
0.74	PFSAX	Prudential Financial	Pair Corr
0.72	FRFZX	Prudential Floating Rate	Pair Corr
0.72	FRFCX	Prudential Floating Rate	Pair Corr
0.71	FRFAX	Prudential Floating Rate	Pair Corr
0.53	PGKZX	Pgim Jennison Technology	Pair Corr
0.6	PGOAX	Prudential Jennison Small	Pair Corr
0.57	SUVAX	Prudential Qma Strategic	Pair Corr
0.57	SUVZX	Prudential Qma Strategic	Pair Corr
0.57	PJFZX	Prudential Jennison	Pair Corr
0.56	SUVCX	Prudential Qma Strategic	Pair Corr

Related Correlations Analysis

	RYAQX	SMAAX	FISAX	PGIQX	FHNFX	USGFX	CGTCX
RYAQX		-0.81	-0.36	-0.98	-0.98	-0.97	-0.97	RYAQX
SMAAX	-0.81		0.54	0.87	0.86	0.87	0.87	SMAAX
FISAX	-0.36	0.54		0.49	0.49	0.49	0.47	FISAX
PGIQX	-0.98	0.87	0.49		1.0	0.99	0.99	PGIQX
FHNFX	-0.98	0.86	0.49	1.0		0.99	0.99	FHNFX
USGFX	-0.97	0.87	0.49	0.99	0.99		1.0	USGFX
CGTCX	-0.97	0.87	0.47	0.99	0.99	1.0		CGTCX
	RYAQX	SMAAX	FISAX	PGIQX	FHNFX	USGFX	CGTCX

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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

FHNFX	+ 1.0	PGIQX
CGTCX	+ 1.0	USGFX
USGFX	+ 0.99	PGIQX
CGTCX	+ 0.99	PGIQX
USGFX	+ 0.99	FHNFX
CGTCX	+ 0.99	FHNFX

High negative correlations

FHNFX	- 0.98	RYAQX
PGIQX	- 0.98	RYAQX
CGTCX	- 0.97	RYAQX
USGFX	- 0.97	RYAQX
SMAAX	- 0.81	RYAQX
FISAX	- 0.36	RYAQX

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
RYAQX	0.61	0.05	(0.05)	0.37	0.64	(0.72)	1.52	(1.27)	5.23
SMAAX	0.12	0.00	(0.44)	0.10	0.18	(0.17)	0.20	(0.30)	0.99
FISAX	0.07	0.00	(0.71)	(0.01)	0.00	(0.18)	0.13	(0.13)	0.80
PGIQX	0.24	(0.01)	0.00	0.26	0.00	0.00	0.50	(0.64)	1.41
FHNFX	0.24	(0.01)	0.00	0.19	0.00	0.00	0.54	(0.54)	1.63
USGFX	0.23	(0.02)	0.00	0.41	0.00	0.00	0.34	(0.42)	1.48
CGTCX	0.23	(0.02)	0.00	0.47	0.00	0.00	0.34	(0.51)	1.49

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