Prudential Global Correlations

PHECX Fund

USD 8.64 0.01 0.12%

The current 90-days correlation between Prudential Global Total and Us Small Cap is 0.02 (i.e., Significant 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

Good diversification

The correlation between Prudential Global Total and DJI is -0.02 (i.e., Good 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 main economic indicators.

Moving together with Prudential Mutual Fund

0.86	EMDCX	Prudential Emerging	Pair Corr
0.86	EMDAX	Prudential Emerging	Pair Corr
0.85	EMDZX	Prudential Emerging	Pair Corr
0.64	PGIGX	Pgim Esg Short	Pair Corr
0.8	PGIJX	Pgim Esg Short	Pair Corr
0.62	PGIKX	Pgim Esg Short	Pair Corr
0.89	PGTOX	Prudential Global Total	Pair Corr
0.95	PGVZX	Prudential Government	Pair Corr
0.95	PGVAX	Prudential Government	Pair Corr
0.99	PHEAX	Prudential Global Total	Pair Corr
0.98	TGMBX	Prudential Porate Bond	Pair Corr

Moving against Prudential Mutual Fund

0.61	PFSZX	Prudential Financial	Pair Corr
0.61	PFSAX	Prudential Financial	Pair Corr
0.69	FRFZX	Prudential Floating Rate	Pair Corr
0.68	FRFCX	Prudential Floating Rate	Pair Corr
0.67	FRFAX	Prudential Floating Rate	Pair Corr
0.62	PGKZX	Pgim Jennison Technology	Pair Corr
0.49	PGOAX	Prudential Jennison Small	Pair Corr

Related Correlations Analysis

	RLESX	QUAIX	CWSIX	FEODX	IUSCX	TVOYX
RLESX		0.96	0.98	0.95	1.0	0.99	RLESX
QUAIX	0.96		0.91	0.96	0.95	0.95	QUAIX
CWSIX	0.98	0.91		0.89	0.98	0.99	CWSIX
FEODX	0.95	0.96	0.89		0.95	0.93	FEODX
IUSCX	1.0	0.95	0.98	0.95		0.99	IUSCX
TVOYX	0.99	0.95	0.99	0.93	0.99		TVOYX
	RLESX	QUAIX	CWSIX	FEODX	IUSCX	TVOYX

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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
RLESX	0.86	(0.04)	0.01	0.10	0.85	(0.93)	2.10	(1.56)	7.12
QUAIX	0.93	0.01	0.05	0.14	1.04	(0.98)	1.92	(2.14)	6.76
CWSIX	0.87	(0.02)	0.04	0.12	0.76	(1.10)	2.04	(1.47)	7.79
FEODX	0.86	(0.08)	(0.02)	0.07	0.99	(0.92)	1.76	(1.41)	6.51
IUSCX	0.95	(0.05)	0.02	0.09	0.94	(1.17)	2.29	(1.69)	8.00
TVOYX	0.79	(0.02)	0.02	0.11	0.67	(0.94)	1.70	(1.42)	6.73

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