Prudential Jennison Correlations

Mutual Funds . USA . 
Fund . Prudential Jennison Mid Cap
PEGZX Fund  USD 19.27  0.02  0.10%   
The current 90-days correlation between Prudential Jennison Mid and Tiaa Cref Lifecycle Retirement is 0.81 (i.e., Very poor diversification). The correlation of Prudential Jennison 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 Jennison Correlation With Market

Poor diversification

The correlation between Prudential Jennison Mid Cap and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Mid Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Prudential Jennison Mid Cap. 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

  0.75PFSZX Prudential FinancialPairCorr
  0.67PFSAX Prudential FinancialPairCorr
  0.96PGKZX Pgim Jennison TechnologyPairCorr
  0.99PGOAX Prudential Jennison SmallPairCorr
  0.72PGNAX Jennison Natural ResPairCorr

Moving against Prudential Mutual Fund

  0.75PGTOX Prudential Global TotalPairCorr
  0.68EMDAX Prudential EmergingPairCorr
  0.67EMDZX Prudential EmergingPairCorr
  0.66EMDCX Prudential EmergingPairCorr
  0.63PGVZX Prudential GovernmentPairCorr
  0.48HYSZX Prudential Short DurationPairCorr
  0.48HYSAX Prudential Short DurationPairCorr
  0.46HYSCX Prudential Short DurationPairCorr
  0.36PGAQX Pgim Esg HighPairCorr
  0.36PGAVX Pgim Esg HighPairCorr
  0.34PGANX Pgim Esg HighPairCorr
  0.34PGAUX Pgim Esg HighPairCorr
  0.75PGVAX Prudential GovernmentPairCorr
  0.74PZTRX Prudential Global TotalPairCorr
  0.74PIFZX Prudential Short TermPairCorr
  0.73PIFCX Prudential Short TermPairCorr
  0.69SDMZX Prudential Short DurationPairCorr
  0.67TGMBX Prudential Porate BondPairCorr
  0.61SDMCX Prudential Short DurationPairCorr
  0.59PHEAX Prudential Global TotalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Jennison 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 Jennison'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.

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