Prudential Jennison Correlations

PGJZX Fund

USD 16.52 0.06 0.36%

The current 90-days correlation between Prudential Jennison and Prudential Jennison Mlp is 0.75 (i.e., 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

Very weak diversification

The correlation between Prudential Jennison Global and DJI is 0.41 (i.e., Very 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 nation.

Moving together with Prudential Mutual Fund

0.62	PGFEX	Pgim Enhanced Retirement	Pair Corr
1.0	PGJAX	Prudential Jennison	Pair Corr
0.71	PRPAX	Prudential Jennison Mlp	Pair Corr
0.68	PCCFX	Prudential Income Builder	Pair Corr

Related Correlations Analysis

	PRPZX	PHSZX	PURZX	PRUZX	PDCZX
PRPZX		-0.08	0.33	0.52	0.56	PRPZX
PHSZX	-0.08		0.27	0.49	-0.05	PHSZX
PURZX	0.33	0.27		0.55	0.79	PURZX
PRUZX	0.52	0.49	0.55		0.39	PRUZX
PDCZX	0.56	-0.05	0.79	0.39		PDCZX
	PRPZX	PHSZX	PURZX	PRUZX	PDCZX

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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

PDCZX	+ 0.79	PURZX
PDCZX	+ 0.56	PRPZX
PRUZX	+ 0.55	PURZX
PRUZX	+ 0.52	PRPZX
PRUZX	+ 0.49	PHSZX
PDCZX	+ 0.39	PRUZX

High negative correlations

PHSZX	- 0.08	PRPZX
PDCZX	- 0.05	PHSZX

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
PRPZX	1.14	0.10	0.06	0.15	1.62	(1.22)	2.18	(2.56)	7.79
PHSZX	1.02	(0.20)	0.00	(0.26)	0.00	0.00	1.83	(2.02)	9.94
PURZX	0.79	(0.04)	0.00	(0.05)	0.00	0.00	1.41	(1.44)	4.58
PRUZX	0.99	(0.13)	0.00	(0.46)	0.00	0.00	1.66	(2.40)	7.18
PDCZX	0.40	0.03	0.04	0.07	0.51	(0.44)	0.82	(0.94)	1.95

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