Prudential Jennison Correlations

PJIAX Fund

USD 22.72 0.03 0.13%

The current 90-days correlation between Prudential Jennison and Prudential Jennison Growth is 0.4 (i.e., Very weak 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

Almost no diversification

The correlation between Prudential Jennison Equity and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Equity 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 Equity. 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

0.92	PJFAX	Prudential Jennison	Pair Corr
0.97	PSIFX	Prudential Qma Stock	Pair Corr
1.0	PBEAX	Prudential Jennison Value	Pair Corr
0.99	PEEAX	Prudential Jennison Mid	Pair Corr
0.97	VVIAX	Vanguard Value Index	Pair Corr
0.99	DOXGX	Dodge Cox Stock	Pair Corr
0.9	AFMFX	American Mutual	Pair Corr
0.9	FFMMX	American Funds American	Pair Corr
0.9	FFFMX	American Funds American	Pair Corr
0.89	AMRMX	American Mutual	Pair Corr
0.89	AMFFX	American Mutual	Pair Corr
0.88	AMFCX	American Mutual	Pair Corr
0.99	DODGX	Dodge Stock Fund	Pair Corr
0.97	VIVAX	Vanguard Value Index	Pair Corr
0.63	FSMMX	Fs Multi Strategy	Pair Corr
0.91	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.91	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.87	DIS	Walt Disney	Pair Corr
0.96	CSCO	Cisco Systems Sell-off Trend	Pair Corr

Moving against Prudential Mutual Fund

0.71	PGVAX	Prudential Government	Pair Corr
0.59	BTMPX	Ishares Msci Eafe	Pair Corr
0.5	PURZX	Prudential Global Real	Pair Corr
0.48	PHECX	Prudential Global Total	Pair Corr
0.79	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.59	BTMKX	Blackrock International	Pair Corr
0.59	MDIIX	Blackrock Intern Index	Pair Corr
0.47	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	PJFAX	PEEAX	PBEAX	PGVAX	PSIFX
PJFAX		0.91	0.91	-0.7	0.98	PJFAX
PEEAX	0.91		0.98	-0.7	0.96	PEEAX
PBEAX	0.91	0.98		-0.69	0.97	PBEAX
PGVAX	-0.7	-0.7	-0.69		-0.72	PGVAX
PSIFX	0.98	0.96	0.97	-0.72		PSIFX
	PJFAX	PEEAX	PBEAX	PGVAX	PSIFX

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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

PSIFX	+ 0.98	PJFAX
PBEAX	+ 0.98	PEEAX
PSIFX	+ 0.97	PBEAX
PSIFX	+ 0.96	PEEAX
PEEAX	+ 0.91	PJFAX
PBEAX	+ 0.91	PJFAX

High negative correlations

PSIFX	- 0.72	PGVAX
PGVAX	- 0.7	PEEAX
PGVAX	- 0.7	PJFAX
PGVAX	- 0.69	PBEAX

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
PJFAX	0.87	(0.07)	(0.03)	0.06	2.16	(0.72)	1.72	(2.20)	5.03
PEEAX	0.68	0.10	0.11	0.24	0.52	(0.74)	1.66	(1.21)	4.42
PBEAX	0.48	0.01	(0.03)	0.14	0.30	(0.62)	1.10	(0.71)	3.27
PGVAX	0.24	(0.03)	0.00	1.23	0.00	0.00	0.38	(0.64)	1.28
PSIFX	0.57	(0.02)	(0.04)	0.11	0.92	(0.56)	1.17	(1.32)	3.85

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