Prudential Global Correlations

PGTSX Fund

USD 5.19 0.02 0.38%

The current 90-days correlation between Prudential Global Total and Federated Hermes Conservative is -0.02 (i.e., Good diversification). The correlation of Prudential Global 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 Global Correlation With Market

Average diversification

The correlation between Prudential Global Total and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Global Total 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 Global Total. 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 state.

Moving together with Prudential Mutual Fund

0.77	EMDQX	Prudential Emerging	Pair Corr
0.8	PGIQX	Prudential Government	Pair Corr
1.0	PGTQX	Prudential Global Total	Pair Corr
0.82	SCFQX	Pgim Securitized Credit	Pair Corr
0.8	SCFOX	Pgim Securitized Credit	Pair Corr
0.82	SCFZX	Pgim Securitized Credit	Pair Corr
0.78	SCFVX	Pgim Securitized Credit	Pair Corr
0.86	PHEQX	Prudential Global Total	Pair Corr
0.81	PHYGX	Pgim High Yield	Pair Corr
0.97	PIFEX	Prudential Short Term	Pair Corr
0.97	PIFGX	Prudential Short Term	Pair Corr
0.84	PJERX	Prudential Jennison	Pair Corr
0.82	PJIQX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.78	PGKAX	Pgim Jennison Technology	Pair Corr
0.78	PGKRX	Pgim Jennison Technology	Pair Corr
0.64	PGKCX	Pgim Jennison Technology	Pair Corr
0.78	JDERX	Prudential Jennison Mid	Pair Corr
0.77	JSCRX	Prudential Jennison Small	Pair Corr
0.77	PJSQX	Prudential Jennison Small	Pair Corr
0.7	PJGQX	Prudential Jennison Mid	Pair Corr
0.62	PJFPX	Prudential Jennison	Pair Corr
0.62	PJFOX	Prudential Jennison	Pair Corr
0.62	PJGRX	Prudential Jennison	Pair Corr
0.62	PJNQX	Jennison Natural Res	Pair Corr
0.57	SDVRX	Prudential Qma Mid	Pair Corr
0.54	PJFQX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	FHCOX	MNDWX	VYRPX	PGBAX	PQCNX	CDBCX	HIIDX	FZABX
FHCOX		0.72	0.52	0.86	0.87	0.85	0.86	0.85	FHCOX
MNDWX	0.72		0.71	0.91	0.81	0.82	0.75	0.73	MNDWX
VYRPX	0.52	0.71		0.73	0.61	0.62	0.72	0.79	VYRPX
PGBAX	0.86	0.91	0.73		0.94	0.94	0.91	0.88	PGBAX
PQCNX	0.87	0.81	0.61	0.94		1.0	0.87	0.81	PQCNX
CDBCX	0.85	0.82	0.62	0.94	1.0		0.86	0.79	CDBCX
HIIDX	0.86	0.75	0.72	0.91	0.87	0.86		0.97	HIIDX
FZABX	0.85	0.73	0.79	0.88	0.81	0.79	0.97		FZABX
	FHCOX	MNDWX	VYRPX	PGBAX	PQCNX	CDBCX	HIIDX	FZABX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Global 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 Global'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
FHCOX	0.05	0.01	0.00	(0.43)	0.00	0.00	0.10	(0.10)	0.51
MNDWX	0.12	(0.01)	0.00	(3.64)	0.00	0.00	0.20	(0.38)	0.96
VYRPX	0.20	0.00	(0.02)	(0.02)	0.26	(0.25)	0.48	(0.38)	1.17
PGBAX	0.14	0.01	0.01	(0.12)	0.09	(0.18)	0.34	(0.25)	0.85
PQCNX	0.25	0.01	0.02	0.31	0.25	(0.30)	0.59	(0.47)	1.43
CDBCX	0.24	0.01	0.01	0.20	0.24	(0.29)	0.56	(0.44)	1.34
HIIDX	0.61	0.07	0.08	0.13	0.75	(0.63)	1.27	(0.97)	5.23
FZABX	0.74	0.09	0.07	0.13	1.01	(0.72)	1.45	(1.37)	6.16

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