Prudential Jennison Correlations

PGJQX Fund

USD 16.45 0.09 0.54%

The current 90-days correlation between Prudential Jennison and Fidelity Series Government is 0.17 (i.e., Average 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

Weak diversification

The correlation between Prudential Jennison Global and DJI is 0.34 (i.e., Weak 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 producer price index.

Moving together with Prudential Mutual Fund

0.92	PFSQX	Prudential Jennison	Pair Corr
0.91	PGRQX	Prudential Global Real	Pair Corr
0.67	PGTQX	Prudential Global Total	Pair Corr
0.7	PGTSX	Prudential Global Total	Pair Corr
0.71	PHIQX	Prudential Muni High	Pair Corr
0.85	PHLQX	Prudential Health	Pair Corr
0.92	SUVQX	Prudential Qma Strategic	Pair Corr
0.88	PIBQX	Prudential Balanced	Pair Corr
0.86	JSCRX	Prudential Jennison Small	Pair Corr
0.81	SDVRX	Prudential Qma Mid	Pair Corr
0.92	PJDQX	Pgim Jennison Rising	Pair Corr
0.82	PJFPX	Prudential Jennison	Pair Corr
0.82	PJFQX	Prudential Jennison	Pair Corr
0.83	PJFOX	Prudential Jennison	Pair Corr
0.92	PJEQX	Prudential Real Estate	Pair Corr
0.76	PJERX	Prudential Jennison	Pair Corr
0.77	PJHRX	Prudential Health	Pair Corr
0.76	PJIQX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.57	SCFOX	Pgim Securitized Credit	Pair Corr
0.57	SCFZX	Pgim Securitized Credit	Pair Corr
0.55	SCFQX	Pgim Securitized Credit	Pair Corr
0.55	SCFVX	Pgim Securitized Credit	Pair Corr
0.48	PFRIX	Prudential Floating Rate	Pair Corr
0.37	SDMQX	Prudential Short Duration	Pair Corr

Related Correlations Analysis

	FHNFX	WABXX	FITSX	USGFX	RGVAX	VSIGX
FHNFX		0.0	0.99	0.98	0.99	0.91	FHNFX
WABXX	0.0		0.0	0.0	0.0	0.0	WABXX
FITSX	0.99	0.0		0.98	0.99	0.9	FITSX
USGFX	0.98	0.0	0.98		0.99	0.91	USGFX
RGVAX	0.99	0.0	0.99	0.99		0.9	RGVAX
VSIGX	0.91	0.0	0.9	0.91	0.9		VSIGX
	FHNFX	WABXX	FITSX	USGFX	RGVAX	VSIGX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FITSX	+ 0.99	FHNFX
RGVAX	+ 0.99	FHNFX
RGVAX	+ 0.99	FITSX
RGVAX	+ 0.99	USGFX
USGFX	+ 0.98	FHNFX
USGFX	+ 0.98	FITSX

High negative correlations

VSIGX	- 0.0	WABXX
RGVAX	- 0.0	WABXX
USGFX	- 0.0	WABXX
FITSX	- 0.0	WABXX
WABXX	- 0.0	FHNFX

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
FHNFX	0.22	0.02	0.04	0.36	0.18	(0.27)	0.55	(0.44)	1.44
WABXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FITSX	0.26	0.02	0.05	0.28	0.24	(0.31)	0.57	(0.46)	1.60
USGFX	0.25	0.02	0.06	0.33	0.20	(0.33)	0.59	(0.42)	1.62
RGVAX	0.25	0.02	0.05	0.26	0.22	(0.33)	0.60	(0.43)	1.72
VSIGX	0.20	0.01	0.04	(0.25)	0.14	(0.26)	0.46	(0.31)	1.28

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC