Jennison Natural Correlations

PNRCX Fund

USD 40.33 0.31 0.76%

The current 90-days correlation between Jennison Natural Res and T Rowe Price is -0.05 (i.e., Good diversification). The correlation of Jennison Natural 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.

Jennison Natural Correlation With Market

Very weak diversification

The correlation between Jennison Natural Resources and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jennison Natural Resources 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 Jennison Natural Resources. 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 main economic indicators.

Moving together with Jennison Mutual Fund

0.75	PGKZX	Pgim Jennison Technology	Pair Corr
0.79	PGOAX	Prudential Jennison Small	Pair Corr
0.94	PGNAX	Jennison Natural Res	Pair Corr

Moving against Jennison Mutual Fund

0.7	PGVZX	Prudential Government	Pair Corr
0.64	PGTOX	Prudential Global Total	Pair Corr
0.55	EMDAX	Prudential Emerging	Pair Corr
0.54	EMDZX	Prudential Emerging	Pair Corr
0.53	HYSCX	Prudential Short Duration	Pair Corr
0.53	EMDCX	Prudential Emerging	Pair Corr
0.44	HYSAX	Prudential Short Duration	Pair Corr
0.36	PGAQX	Pgim Esg High	Pair Corr
0.36	PGAUX	Pgim Esg High	Pair Corr
0.35	PGAVX	Pgim Esg High	Pair Corr
0.68	PGVAX	Prudential Government	Pair Corr
0.68	PIFZX	Prudential Short Term	Pair Corr
0.66	TGMBX	Prudential Porate Bond	Pair Corr
0.66	SDMAX	Prudential Short Duration	Pair Corr
0.65	PIFCX	Prudential Short Term	Pair Corr
0.64	SDMCX	Prudential Short Duration	Pair Corr
0.63	PZTRX	Prudential Global Total	Pair Corr
0.63	SDMZX	Prudential Short Duration	Pair Corr

Related Correlations Analysis

	PRDMX	ARSMX	AFDVX	LVAQX	RYCLX	TIMVX	PRSVX
PRDMX		0.9	0.94	0.87	-0.88	0.86	0.96	PRDMX
ARSMX	0.9		0.97	0.89	-0.9	0.9	0.95	ARSMX
AFDVX	0.94	0.97		0.93	-0.93	0.88	0.98	AFDVX
LVAQX	0.87	0.89	0.93		-0.97	0.9	0.92	LVAQX
RYCLX	-0.88	-0.9	-0.93	-0.97		-0.93	-0.92	RYCLX
TIMVX	0.86	0.9	0.88	0.9	-0.93		0.87	TIMVX
PRSVX	0.96	0.95	0.98	0.92	-0.92	0.87		PRSVX
	PRDMX	ARSMX	AFDVX	LVAQX	RYCLX	TIMVX	PRSVX

Click cells to compare fundamentals

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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

PRSVX	+ 0.98	AFDVX
AFDVX	+ 0.97	ARSMX
PRSVX	+ 0.96	PRDMX
PRSVX	+ 0.95	ARSMX
AFDVX	+ 0.94	PRDMX
LVAQX	+ 0.93	AFDVX

High negative correlations

RYCLX	- 0.97	LVAQX
TIMVX	- 0.93	RYCLX
RYCLX	- 0.93	AFDVX
PRSVX	- 0.92	RYCLX
RYCLX	- 0.9	ARSMX
RYCLX	- 0.88	PRDMX

Risk-Adjusted Indicators

There is a big difference between Jennison Mutual Fund performing well and Jennison Natural 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 Jennison Natural'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
PRDMX	1.25	(0.10)	0.00	0.95	0.00	0.00	2.00	(3.52)	6.08
ARSMX	0.72	(0.07)	0.00	0.85	0.00	0.00	1.17	(1.37)	3.08
AFDVX	0.84	(0.12)	0.00	0.92	0.00	0.00	1.86	(1.93)	4.58
LVAQX	0.79	(0.09)	0.00	(0.10)	0.00	0.00	1.58	(1.81)	3.61
RYCLX	0.83	0.08	0.08	(0.08)	0.94	(0.85)	2.16	(1.54)	5.20
TIMVX	0.73	(0.01)	0.00	(0.01)	0.00	0.00	1.41	(1.65)	3.55
PRSVX	0.83	(0.11)	0.00	0.85	0.00	0.00	1.62	(2.04)	4.20

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