Prudential Government Correlations

PGIQX Fund

USD 7.84 0.01 0.13%

The current 90-days correlation between Prudential Government and Ab Bond Inflation is 0.76 (i.e., Poor diversification). The correlation of Prudential Government 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 Government Correlation With Market

Significant diversification

The correlation between Prudential Government Income 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 Government Income 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 Government Income. 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 producer price index.

Moving together with Prudential Mutual Fund

0.87	HYSQX	Prudential Short Duration	Pair Corr
0.76	EMDQX	Prudential Emerging	Pair Corr
0.93	PGTQX	Prudential Global Total	Pair Corr
0.95	PGTSX	Prudential Global Total	Pair Corr
0.77	SCFOX	Pgim Securitized Credit	Pair Corr
0.81	SCFZX	Pgim Securitized Credit	Pair Corr
0.78	SCFVX	Pgim Securitized Credit	Pair Corr
0.94	PHEQX	Prudential Global Total	Pair Corr
0.81	PHYGX	Pgim High Yield	Pair Corr
0.83	PHYQX	Prudential High Yield	Pair Corr
0.97	PIFEX	Prudential Short Term	Pair Corr
0.94	PIFGX	Prudential Short Term	Pair Corr
0.71	SDMQX	Prudential Short Duration	Pair Corr
0.76	PJERX	Prudential Jennison	Pair Corr
0.77	PJIQX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.79	JSCRX	Prudential Jennison Small	Pair Corr
0.78	PGKAX	Pgim Jennison Technology	Pair Corr
0.78	PGKRX	Pgim Jennison Technology	Pair Corr
0.71	PGKCX	Pgim Jennison Technology	Pair Corr
0.74	PQCCX	Prudential Qma Mid	Pair Corr
0.73	PJSQX	Prudential Jennison Small	Pair Corr
0.72	JDERX	Prudential Jennison Mid	Pair Corr
0.7	PJGQX	Prudential Jennison Mid	Pair Corr
0.69	PJNQX	Jennison Natural Res	Pair Corr
0.63	PJFQX	Prudential Jennison	Pair Corr
0.61	PMVFX	Prudential Qma Mid	Pair Corr
0.56	PJFPX	Prudential Jennison	Pair Corr
0.56	PJFOX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	ABNTX	TTRBX	DLTNX	PRVBX	MSTBX	ABNCX	MIIIX	GANPX
ABNTX		0.98	0.97	0.96	0.97	1.0	0.96	0.92	ABNTX
TTRBX	0.98		0.98	0.95	0.96	0.98	0.98	0.93	TTRBX
DLTNX	0.97	0.98		0.95	0.97	0.97	1.0	0.89	DLTNX
PRVBX	0.96	0.95	0.95		0.98	0.96	0.94	0.92	PRVBX
MSTBX	0.97	0.96	0.97	0.98		0.98	0.96	0.91	MSTBX
ABNCX	1.0	0.98	0.97	0.96	0.98		0.96	0.91	ABNCX
MIIIX	0.96	0.98	1.0	0.94	0.96	0.96		0.87	MIIIX
GANPX	0.92	0.93	0.89	0.92	0.91	0.91	0.87		GANPX
	ABNTX	TTRBX	DLTNX	PRVBX	MSTBX	ABNCX	MIIIX	GANPX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Government 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 Government'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
ABNTX	0.14	0.05	0.36	5.35	0.00	(0.20)	0.30	(0.20)	0.99
TTRBX	0.15	0.02	0.24	0.67	0.00	(0.19)	0.40	(0.30)	0.82
DLTNX	0.22	0.03	0.21	0.84	0.06	(0.31)	0.57	(0.34)	1.40
PRVBX	0.10	0.01	0.35	(0.83)	0.00	(0.13)	0.23	(0.14)	0.53
MSTBX	0.10	0.02	0.29	(0.94)	0.00	(0.15)	0.21	(0.21)	0.62
ABNCX	0.14	0.04	0.39	1.83	0.00	(0.20)	0.30	(0.29)	0.90
MIIIX	0.24	0.02	0.16	0.72	0.17	(0.32)	0.54	(0.43)	1.42
GANPX	0.06	0.00	0.14	0.16	0.00	(0.12)	0.10	(0.10)	0.48

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