Prudential Jennison Correlations

PJIQX Fund

USD 14.10 0.05 0.35%

The current 90-days correlation between Prudential Jennison and Siit High Yield is 0.46 (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

Poor diversification

The correlation between Prudential Jennison Equity and DJI is 0.61 (i.e., Poor 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 producer price index.

Moving together with Prudential Mutual Fund

0.77	PWJQX	Prudential Jennison	Pair Corr
0.77	PWJRX	Prudential Jennison	Pair Corr
0.77	PWJBX	Pgim Jennison Intern	Pair Corr
0.77	PWJDX	Pgim Jennison Intern	Pair Corr
0.92	HYSQX	Prudential Short Duration	Pair Corr
0.89	EMDQX	Prudential Emerging	Pair Corr
0.62	PFRIX	Prudential Floating Rate	Pair Corr
0.82	PGIQX	Prudential Government	Pair Corr
0.78	PGRQX	Prudential Global Real	Pair Corr
0.85	PGTQX	Prudential Global Total	Pair Corr
0.84	PGTSX	Prudential Global Total	Pair Corr
0.67	SCFQX	Pgim Securitized Credit	Pair Corr
0.84	SCFOX	Pgim Securitized Credit	Pair Corr
0.85	SCFZX	Pgim Securitized Credit	Pair Corr
0.84	SCFVX	Pgim Securitized Credit	Pair Corr
0.87	PHEQX	Prudential Global Total	Pair Corr
0.69	PHIQX	Prudential Muni High	Pair Corr
0.9	PHYGX	Pgim High Yield	Pair Corr
0.89	PHYQX	Prudential High Yield	Pair Corr
0.85	PIFEX	Prudential Short Term	Pair Corr
0.85	PIFGX	Prudential Short Term	Pair Corr
0.64	PJEQX	Prudential Real Estate	Pair Corr
1.0	PJERX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.43	PGKCX	Pgim Jennison Technology	Pair Corr
0.43	PGKAX	Pgim Jennison Technology	Pair Corr
0.42	PGKRX	Pgim Jennison Technology	Pair Corr
0.39	JSCRX	Prudential Jennison Small	Pair Corr
0.4	JDERX	Prudential Jennison Mid	Pair Corr
0.39	PJGQX	Prudential Jennison Mid	Pair Corr
0.37	PJSQX	Prudential Jennison Small	Pair Corr

Related Correlations Analysis

	SGYAX	ARCIX	BXHCX	GHVIX	AQRRX	TRRJX	PHDTX	TAHFX
SGYAX		0.8	0.94	0.93	0.84	0.6	0.91	0.95	SGYAX
ARCIX	0.8		0.73	0.77	0.82	0.58	0.75	0.71	ARCIX
BXHCX	0.94	0.73		0.96	0.87	0.69	0.93	0.92	BXHCX
GHVIX	0.93	0.77	0.96		0.89	0.69	0.98	0.86	GHVIX
AQRRX	0.84	0.82	0.87	0.89		0.88	0.84	0.85	AQRRX
TRRJX	0.6	0.58	0.69	0.69	0.88		0.61	0.7	TRRJX
PHDTX	0.91	0.75	0.93	0.98	0.84	0.61		0.81	PHDTX
TAHFX	0.95	0.71	0.92	0.86	0.85	0.7	0.81		TAHFX
	SGYAX	ARCIX	BXHCX	GHVIX	AQRRX	TRRJX	PHDTX	TAHFX

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SGYAX	0.16	0.02	0.07	0.15	0.05	(0.26)	0.56	(0.28)	1.57
ARCIX	0.52	0.15	0.18	(1.14)	0.46	(0.59)	1.22	(1.02)	4.94
BXHCX	0.13	0.00	0.02	(0.07)	0.11	(0.20)	0.37	(0.37)	1.00
GHVIX	0.16	0.01	0.06	(0.25)	0.14	(0.17)	0.30	(0.35)	1.01
AQRRX	0.49	0.05	0.07	(0.50)	0.61	(0.53)	1.02	(1.08)	3.50
TRRJX	0.53	(0.01)	0.00	0.07	0.00	0.00	1.03	(1.11)	3.05
PHDTX	0.12	0.01	0.07	(0.85)	0.00	(0.16)	0.23	(0.23)	0.79
TAHFX	0.16	(0.01)	(0.01)	(0.06)	0.19	(0.21)	0.49	(0.36)	1.24

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