Prudential Total Correlations

PTRQX Fund

USD 11.99 0.01 0.08%

The current 90-days correlation between Prudential Total Return and John Hancock Bond is 0.99 (i.e., No risk reduction). The correlation of Prudential Total 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 Total Correlation With Market

Significant diversification

The correlation between Prudential Total Return and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Total Return 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 Total Return. 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

0.89	HYSQX	Prudential Short Duration	Pair Corr
0.9	EMDQX	Prudential Emerging	Pair Corr
1.0	PGIQX	Prudential Government	Pair Corr
0.97	PGTQX	Prudential Global Total	Pair Corr
0.96	PGTSX	Prudential Global Total	Pair Corr
0.81	SCFQX	Pgim Securitized Credit	Pair Corr
0.78	SCFOX	Pgim Securitized Credit	Pair Corr
0.81	SCFZX	Pgim Securitized Credit	Pair Corr
0.78	SCFVX	Pgim Securitized Credit	Pair Corr
0.98	PHEQX	Prudential Global Total	Pair Corr
0.74	PHIQX	Prudential Muni High	Pair Corr
0.85	PHYGX	Pgim High Yield	Pair Corr
0.87	PHYQX	Prudential High Yield	Pair Corr
0.98	PIFEX	Prudential Short Term	Pair Corr
0.97	PIFGX	Prudential Short Term	Pair Corr
0.94	SDMQX	Prudential Short Duration	Pair Corr
0.82	PJERX	Prudential Jennison	Pair Corr
0.82	PJIQX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.74	PGKCX	Pgim Jennison Technology	Pair Corr
0.74	PGKAX	Pgim Jennison Technology	Pair Corr
0.74	PGKRX	Pgim Jennison Technology	Pair Corr
0.72	JSCRX	Prudential Jennison Small	Pair Corr
0.73	JDERX	Prudential Jennison Mid	Pair Corr
0.72	PJGQX	Prudential Jennison Mid	Pair Corr
0.72	PJSQX	Prudential Jennison Small	Pair Corr
0.57	PJFOX	Prudential Jennison	Pair Corr
0.57	PJGRX	Prudential Jennison	Pair Corr
0.56	PJFPX	Prudential Jennison	Pair Corr
0.56	PJFQX	Prudential Jennison	Pair Corr
0.49	PJNQX	Jennison Natural Res	Pair Corr
0.46	SDVRX	Prudential Qma Mid	Pair Corr
0.46	PMVFX	Prudential Qma Mid	Pair Corr

Related Correlations Analysis

	JHBSX	MDIZX	FDTRX	LBNOX	MFEKX
JHBSX		0.88	-0.67	0.73	-0.57	JHBSX
MDIZX	0.88		-0.52	0.72	-0.45	MDIZX
FDTRX	-0.67	-0.52		-0.14	0.94	FDTRX
LBNOX	0.73	0.72	-0.14		-0.07	LBNOX
MFEKX	-0.57	-0.45	0.94	-0.07		MFEKX
	JHBSX	MDIZX	FDTRX	LBNOX	MFEKX

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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

MFEKX	+ 0.94	FDTRX
MDIZX	+ 0.88	JHBSX
LBNOX	+ 0.73	JHBSX
LBNOX	+ 0.72	MDIZX

High negative correlations

FDTRX	- 0.67	JHBSX
MFEKX	- 0.57	JHBSX
FDTRX	- 0.52	MDIZX
MFEKX	- 0.45	MDIZX
LBNOX	- 0.14	FDTRX
MFEKX	- 0.07	LBNOX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Total 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 Total'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
JHBSX	0.25	0.01	0.13	0.19	0.27	(0.29)	0.60	(0.45)	1.44
MDIZX	0.59	0.07	0.11	0.12	0.77	(0.58)	1.30	(1.31)	4.56
FDTRX	1.38	(0.12)	0.00	(0.14)	0.00	0.00	2.60	(3.80)	7.54
LBNOX	0.17	(0.01)	0.10	0.11	0.20	(0.25)	0.42	(0.42)	1.12
MFEKX	1.29	(0.24)	0.00	(0.19)	0.00	0.00	2.10	(3.23)	11.18

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