Prudential Jennison Correlations

PJIAX Fund  USD 22.70  0.01  0.04%   
The current 90-days correlation between Prudential Jennison and Prudential Jennison International is -0.1 (i.e., 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

Significant diversification

The correlation between Prudential Jennison Equity and DJI is 0.02 (i.e., Significant 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
  0.64PGAQX Pgim Esg HighPairCorr
  0.65PGANX Pgim Esg HighPairCorr
  0.65PGAVX Pgim Esg HighPairCorr
  0.7PGFEX Pgim Enhanced RetirementPairCorr
  0.75PGJAX Prudential JennisonPairCorr
  0.74PGJCX Prudential JennisonPairCorr
  0.73PGJZX Prudential JennisonPairCorr
  0.87FRFZX Prudential Floating RatePairCorr
  0.87FRFAX Prudential Floating RatePairCorr
  0.88FRFCX Prudential Floating RatePairCorr
  0.92PGKZX Pgim Jennison TechnologyPairCorr
  0.98PGOAX Prudential Jennison SmallPairCorr
  0.67PGNAX Jennison Natural ResPairCorr

Moving against Prudential Mutual Fund

  0.65EMDCX Prudential EmergingPairCorr
  0.65EMDAX Prudential EmergingPairCorr
  0.63EMDZX Prudential EmergingPairCorr
  0.38PWJZX Prudential JennisonPairCorr
  0.36PWJCX Prudential JennisonPairCorr
  0.32PWJAX Prudential JennisonPairCorr
  0.32PGIJX Pgim Esg ShortPairCorr
  0.79PZTRX Prudential Global TotalPairCorr
  0.78PGTOX Prudential Global TotalPairCorr
  0.75PGVAX Prudential GovernmentPairCorr
  0.74PGVZX Prudential GovernmentPairCorr
  0.63PHLCX Prudential HealthPairCorr
  0.62TGMBX Prudential Porate BondPairCorr

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   
EMDAXEMDCX
EMDZXEMDCX
EMDZXEMDAX
HYSCXHYSAX
HYSAXHYSZX
HYSCXHYSZX
  
High negative correlations   
PFSZXEMDCX
PFSZXEMDAX
PFSZXEMDZX
PFSZXPWJCX
PFSZXPWJZX
PFSZXPWJAX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWJZX  0.70  0.09 (0.09)(0.30) 0.81 
 1.59 
 5.53 
PWJAX  0.76 (0.08) 0.00 (0.90) 0.00 
 1.59 
 5.53 
PWJCX  0.70 (0.05)(0.13) 0.04  0.86 
 1.61 
 5.56 
HYSZX  0.09  0.00 (0.79) 0.00  0.00 
 0.24 
 0.71 
HYSAX  0.10  0.01 (0.78)(0.56) 0.00 
 0.24 
 0.84 
HYSCX  0.10  0.01 (0.85)(0.52) 0.00 
 0.24 
 0.72 
EMDCX  0.34 (0.07) 0.00 (0.40) 0.00 
 0.64 
 1.97 
EMDAX  0.34 (0.07) 0.00 (0.31) 0.00 
 0.65 
 1.97 
EMDZX  0.34 (0.07) 0.00 (0.31) 0.00 
 0.64 
 1.96 
PFSZX  0.81  0.17  0.03 (2.39) 0.58 
 1.58 
 8.35