Prudential Jennison Correlations

PJFZX Fund

USD 66.35 0.36 0.55%

The current 90-days correlation between Prudential Jennison and Prudential Qma Stock is 0.94 (i.e., Almost no 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

Poor diversification

The correlation between Prudential Jennison Growth and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Growth 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 Growth. 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

0.82	PFSZX	Prudential Financial	Pair Corr
0.82	PFSAX	Prudential Financial	Pair Corr
0.95	PGKZX	Pgim Jennison Technology	Pair Corr
0.92	PGOAX	Prudential Jennison Small	Pair Corr

Moving against Prudential Mutual Fund

0.62	PGTOX	Prudential Global Total	Pair Corr
0.61	PGVZX	Prudential Government	Pair Corr
0.55	EMDZX	Prudential Emerging	Pair Corr
0.53	EMDAX	Prudential Emerging	Pair Corr
0.52	EMDCX	Prudential Emerging	Pair Corr
0.35	HYSAX	Prudential Short Duration	Pair Corr
0.34	HYSCX	Prudential Short Duration	Pair Corr
0.32	HYSZX	Prudential Short Duration	Pair Corr
0.61	PZTRX	Prudential Global Total	Pair Corr
0.61	PIFCX	Prudential Short Term	Pair Corr
0.6	PGVAX	Prudential Government	Pair Corr
0.6	PIFZX	Prudential Short Term	Pair Corr
0.6	SDMCX	Prudential Short Duration	Pair Corr
0.58	SDMAX	Prudential Short Duration	Pair Corr
0.57	SDMZX	Prudential Short Duration	Pair Corr
0.54	TGMBX	Prudential Porate Bond	Pair Corr

Related Correlations Analysis

	PDSIX	PEGZX	PJGZX	PSIFX	PABFX
PDSIX		0.91	0.89	1.0	0.71	PDSIX
PEGZX	0.91		0.73	0.9	0.59	PEGZX
PJGZX	0.89	0.73		0.9	0.64	PJGZX
PSIFX	1.0	0.9	0.9		0.72	PSIFX
PABFX	0.71	0.59	0.64	0.72		PABFX
	PDSIX	PEGZX	PJGZX	PSIFX	PABFX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PDSIX	0.82	(0.07)	(0.08)	1.59	(1.73)	4.51
PEGZX	1.15	(0.18)	(0.15)	1.90	(3.53)	5.95
PJGZX	0.71	(0.03)	(0.03)	1.31	(1.83)	3.87
PSIFX	0.82	(0.07)	(0.07)	1.59	(1.75)	4.51
PABFX	0.56	(0.11)	(0.19)	0.85	(1.14)	4.53

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