Prudential Jennison Correlations

PGJCX Fund

USD 17.18 0.28 1.60%

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

Modest diversification

The correlation between Prudential Jennison Global and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Global 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 Global. 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

0.61	HYSZX	Prudential Short Duration	Pair Corr
0.65	PFSZX	Prudential Financial	Pair Corr
0.65	PFSAX	Prudential Financial	Pair Corr
0.72	PGAQX	Pgim Esg High	Pair Corr
0.71	PGANX	Pgim Esg High	Pair Corr
0.71	PGAUX	Pgim Esg High	Pair Corr
0.75	PGAVX	Pgim Esg High	Pair Corr
0.77	PGFCX	Pgim Conservative	Pair Corr
0.88	PGFEX	Pgim Enhanced Retirement	Pair Corr
1.0	PGJAX	Prudential Jennison	Pair Corr
0.92	PGJZX	Prudential Jennison	Pair Corr
0.68	PGKZX	Pgim Jennison Technology	Pair Corr
0.71	PGOAX	Prudential Jennison Small	Pair Corr
0.66	PGNAX	Jennison Natural Res	Pair Corr

Moving against Prudential Mutual Fund

0.49	PHLCX	Prudential Health	Pair Corr
0.48	PHLAX	Prudential Health	Pair Corr
0.48	PHSZX	Prudential Health	Pair Corr
0.31	PGTOX	Prudential Global Total	Pair Corr
0.31	PZTRX	Prudential Global Total	Pair Corr

Related Correlations Analysis

	PARKX	RRTLX	JABKX	SCGCX	TRRAX	HRNRX	PASUX	TRLNX
PARKX		0.94	0.84	0.89	0.86	0.83	0.99	0.91	PARKX
RRTLX	0.94		0.97	0.78	0.9	0.67	0.89	0.82	RRTLX
JABKX	0.84	0.97		0.64	0.85	0.51	0.76	0.7	JABKX
SCGCX	0.89	0.78	0.64		0.88	0.93	0.91	0.97	SCGCX
TRRAX	0.86	0.9	0.85	0.88		0.73	0.83	0.93	TRRAX
HRNRX	0.83	0.67	0.51	0.93	0.73		0.87	0.86	HRNRX
PASUX	0.99	0.89	0.76	0.91	0.83	0.87		0.92	PASUX
TRLNX	0.91	0.82	0.7	0.97	0.93	0.86	0.92		TRLNX
	PARKX	RRTLX	JABKX	SCGCX	TRRAX	HRNRX	PASUX	TRLNX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PARKX	0.41	0.04	(0.12)	5.91	0.49	(0.44)	0.83	(0.87)	2.42
RRTLX	0.23	0.02	(0.26)	0.65	0.23	(0.25)	0.48	(0.56)	1.36
JABKX	0.26	0.02	(0.25)	0.78	0.27	(0.27)	0.55	(0.55)	1.35
SCGCX	0.43	0.00	(0.08)	0.11	0.45	(0.49)	0.87	(0.71)	2.67
TRRAX	0.25	(0.01)	(0.22)	0.08	0.29	(0.25)	0.50	(0.50)	1.58
HRNRX	0.89	0.33	0.23	1.26	0.67	(1.06)	2.44	(1.56)	6.54
PASUX	0.50	0.06	(0.08)	(10.04)	0.62	(0.55)	0.99	(1.05)	3.06
TRLNX	0.49	(0.02)	(0.08)	0.08	0.60	(0.51)	0.99	(1.10)	3.01

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