Prudential Commodity Correlations

PQCMX Fund

USD 6.86 0.20 3.00%

The correlation of Prudential Commodity 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 Commodity Correlation With Market

Good diversification

The correlation between Prudential Commodity Strategie and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Commodity Strategie 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 Commodity Strategies. 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 population.

Moving against Prudential Mutual Fund

0.47	PFSQX	Prudential Jennison	Pair Corr
0.35	JSCRX	Prudential Jennison Small	Pair Corr
0.34	PGKCX	Pgim Jennison Technology	Pair Corr
0.33	HYSQX	Prudential Short Duration	Pair Corr
0.33	PGKAX	Pgim Jennison Technology	Pair Corr
0.33	PGKRX	Pgim Jennison Technology	Pair Corr
0.38	PJSQX	Prudential Jennison Small	Pair Corr
0.34	PMVFX	Prudential Qma Mid	Pair Corr
0.34	PMVEX	Prudential Qma Mid	Pair Corr
0.34	PMVQX	Prudential Qma Mid	Pair Corr
0.33	SDVRX	Prudential Qma Mid	Pair Corr
0.33	PJFQX	Prudential Jennison	Pair Corr
0.32	PJFPX	Prudential Jennison	Pair Corr
0.31	PJFOX	Prudential Jennison	Pair Corr
0.31	PJGQX	Prudential Jennison Mid	Pair Corr
0.31	PJORX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	LUNAX	PGBAX	PSIBX	QDARX	SRDAX	LIGFX	PDNIX
LUNAX		0.76	0.0	-0.45	0.04	0.96	0.79	LUNAX
PGBAX	0.76		0.0	-0.21	-0.29	0.84	0.86	PGBAX
PSIBX	0.0	0.0		0.0	0.0	0.0	0.0	PSIBX
QDARX	-0.45	-0.21	0.0		-0.55	-0.44	-0.45	QDARX
SRDAX	0.04	-0.29	0.0	-0.55		-0.05	0.16	SRDAX
LIGFX	0.96	0.84	0.0	-0.44	-0.05		0.84	LIGFX
PDNIX	0.79	0.86	0.0	-0.45	0.16	0.84		PDNIX
	LUNAX	PGBAX	PSIBX	QDARX	SRDAX	LIGFX	PDNIX

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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

LIGFX	+ 0.96	LUNAX
PDNIX	+ 0.86	PGBAX
LIGFX	+ 0.84	PGBAX
PDNIX	+ 0.84	LIGFX
PDNIX	+ 0.79	LUNAX
PGBAX	+ 0.76	LUNAX

High negative correlations

SRDAX	- 0.55	QDARX
PDNIX	- 0.45	QDARX
QDARX	- 0.45	LUNAX
LIGFX	- 0.44	QDARX
SRDAX	- 0.29	PGBAX
QDARX	- 0.21	PGBAX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Commodity 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 Commodity'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
LUNAX	0.34	0.00	0.01	(0.04)	0.49	(0.36)	0.70	(0.62)	2.40
PGBAX	0.14	(0.03)	0.00	(0.87)	0.00	0.00	0.25	(0.34)	1.26
PSIBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QDARX	0.10	(0.02)	0.00	1.15	0.00	0.00	0.25	(0.25)	0.74
SRDAX	0.18	0.06	0.21	3.20	0.00	(0.25)	0.38	(0.30)	1.65
LIGFX	0.29	(0.03)	0.00	(0.17)	0.00	0.00	0.50	(0.56)	2.03
PDNIX	0.16	(0.02)	0.00	(0.50)	0.00	0.00	0.31	(0.41)	1.34

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