Prudential Jennison Correlations

PJIAX Fund  USD 22.70  0.01  0.04%   
The current 90-days correlation between Prudential Jennison and Prudential Jennison Growth is 0.62 (i.e., Poor 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

  0.97PFSZX Prudential FinancialPairCorr
  0.97PFSAX Prudential FinancialPairCorr
  0.67PGAQX Pgim Esg HighPairCorr
  0.67PGANX Pgim Esg HighPairCorr
  0.61PGAUX Pgim Esg HighPairCorr
  0.69PGAVX Pgim Esg HighPairCorr
  0.67PGFEX Pgim Enhanced RetirementPairCorr
  0.74PGJAX Prudential JennisonPairCorr
  0.75PGJCX Prudential JennisonPairCorr
  0.74PGJZX Prudential JennisonPairCorr
  0.88FRFZX Prudential Floating RatePairCorr
  0.89FRFAX Prudential Floating RatePairCorr
  0.9FRFCX Prudential Floating RatePairCorr
  0.93PGKZX Pgim Jennison TechnologyPairCorr
  0.95PGOAX Prudential Jennison SmallPairCorr
  0.68PGNAX Jennison Natural ResPairCorr

Moving against Prudential Mutual Fund

  0.67EMDCX Prudential EmergingPairCorr
  0.66EMDAX Prudential EmergingPairCorr
  0.64EMDZX Prudential EmergingPairCorr
  0.37PWJCX Prudential JennisonPairCorr
  0.49PGIJX Pgim Esg ShortPairCorr
  0.79PGTOX Prudential Global TotalPairCorr
  0.79PZTRX Prudential Global TotalPairCorr
  0.74PGVZX Prudential GovernmentPairCorr
  0.74PGVAX Prudential GovernmentPairCorr
  0.62PHLCX Prudential HealthPairCorr
  0.61PHLAX Prudential HealthPairCorr

Related Correlations Analysis

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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   
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PSIFXPBEAX
PSIFXPEEAX
PEEAXPJFAX
PBEAXPJFAX
  
High negative correlations   
PGVAXPEEAX
PSIFXPGVAX
PGVAXPJFAX
PGVAXPBEAX

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.