Prudential Jennison Correlations

PJGQX Fund

USD 20.66 0.42 1.99%

The current 90-days correlation between Prudential Jennison Mid and United Kingdom Small is -0.23 (i.e., Very good 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 Mid Cap and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Mid Cap 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 Mid Cap. 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

0.74	PFSQX	Prudential Jennison	Pair Corr
0.97	PGKCX	Pgim Jennison Technology	Pair Corr
0.97	PGKAX	Pgim Jennison Technology	Pair Corr
0.97	PGKRX	Pgim Jennison Technology	Pair Corr
0.66	SUVQX	Prudential Qma Strategic	Pair Corr
0.62	PIBQX	Prudential Balanced	Pair Corr
0.99	JSCRX	Prudential Jennison Small	Pair Corr
0.92	SDVRX	Prudential Qma Mid	Pair Corr
0.94	PJFPX	Prudential Jennison	Pair Corr
0.94	PJFQX	Prudential Jennison	Pair Corr
0.94	PJFOX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.78	PGTQX	Prudential Global Total	Pair Corr
0.78	PGTSX	Prudential Global Total	Pair Corr
0.76	PGIQX	Prudential Government	Pair Corr
0.74	PIFEX	Prudential Short Term	Pair Corr
0.73	PIFGX	Prudential Short Term	Pair Corr
0.69	EMDQX	Prudential Emerging	Pair Corr
0.61	PHEQX	Prudential Global Total	Pair Corr
0.51	SCFQX	Pgim Securitized Credit	Pair Corr
0.51	SCFZX	Pgim Securitized Credit	Pair Corr
0.47	SCFOX	Pgim Securitized Credit	Pair Corr
0.46	HYSQX	Prudential Short Duration	Pair Corr
0.45	PHYQX	Prudential High Yield	Pair Corr
0.44	SCFVX	Pgim Securitized Credit	Pair Corr
0.38	PHYGX	Pgim High Yield	Pair Corr
0.77	JDRVX	Prudential Government	Pair Corr
0.76	JDTRX	Prudential Short Term	Pair Corr
0.74	TPCRX	Prudential E Bond	Pair Corr
0.74	TPCQX	Prudential E Bond	Pair Corr
0.71	SDMQX	Prudential Short Duration	Pair Corr
0.63	PJRQX	Prudential Qma Intl	Pair Corr
0.4	JDYRX	Prudential High Yield	Pair Corr
0.39	PJERX	Prudential Jennison	Pair Corr
0.39	PJIQX	Prudential Jennison	Pair Corr
0.39	PNMQX	Pgim National Muni	Pair Corr

Related Correlations Analysis

	DFUKX	ANTMX	ESCIX	OWSMX	TVOYX	CIPNX
DFUKX		0.65	0.33	0.23	-0.25	-0.22	DFUKX
ANTMX	0.65		0.67	0.74	0.39	0.38	ANTMX
ESCIX	0.33	0.67		0.75	0.55	0.57	ESCIX
OWSMX	0.23	0.74	0.75		0.8	0.76	OWSMX
TVOYX	-0.25	0.39	0.55	0.8		0.97	TVOYX
CIPNX	-0.22	0.38	0.57	0.76	0.97		CIPNX
	DFUKX	ANTMX	ESCIX	OWSMX	TVOYX	CIPNX

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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

CIPNX	+ 0.97	TVOYX
TVOYX	+ 0.8	OWSMX
CIPNX	+ 0.76	OWSMX
OWSMX	+ 0.75	ESCIX
OWSMX	+ 0.74	ANTMX
ESCIX	+ 0.67	ANTMX

High negative correlations

TVOYX	- 0.25	DFUKX
CIPNX	- 0.22	DFUKX

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
DFUKX	0.79	0.00	0.00	0.00	1.18	(0.72)	1.96	(2.04)	6.05
ANTMX	0.73	0.01	0.01	(0.08)	1.03	(0.75)	1.48	(1.52)	5.64
ESCIX	0.72	(0.01)	0.00	(0.01)	0.98	(0.75)	1.87	(1.88)	4.56
OWSMX	0.64	(0.04)	0.00	(0.06)	0.00	0.00	1.19	(1.34)	3.89
TVOYX	0.81	(0.05)	0.00	(0.05)	0.00	0.00	1.52	(1.83)	4.01
CIPNX	0.86	(0.08)	0.00	(0.07)	0.00	0.00	1.52	(1.96)	4.80

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