Prudential Jennison Correlations

PWJRX Fund

USD 29.71 0.09 0.30%

The current 90-days correlation between Prudential Jennison and Prudential Jennison International is -0.05 (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

Very weak diversification

The correlation between Prudential Jennison Internatio and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Internatio 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 International. 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 metropolitan statistical area.

Moving together with Prudential Mutual Fund

0.88	PWJQX	Prudential Jennison	Pair Corr
0.88	PWJBX	Pgim Jennison Intern	Pair Corr
0.9	PWJDX	Pgim Jennison Intern	Pair Corr
0.67	EMDQX	Prudential Emerging	Pair Corr
0.62	PGTSX	Prudential Global Total	Pair Corr
0.8	PJERX	Prudential Jennison	Pair Corr
0.83	PJIQX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.56	PFSQX	Prudential Jennison	Pair Corr
0.56	SCFVX	Pgim Securitized Credit	Pair Corr
0.43	SUVQX	Prudential Qma Strategic	Pair Corr
0.41	JSCRX	Prudential Jennison Small	Pair Corr
0.4	SCFQX	Pgim Securitized Credit	Pair Corr
0.39	SCFOX	Pgim Securitized Credit	Pair Corr
0.39	SCFZX	Pgim Securitized Credit	Pair Corr
0.42	PJSQX	Prudential Jennison Small	Pair Corr
0.41	PJGQX	Prudential Jennison Mid	Pair Corr
0.4	PJOQX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	PWJQX	PWJBX	PWJDX	HYSQX	EMDQX	PFRIX	PFSQX	PGJQX	PGIQX
PWJQX		0.78	0.79	-0.21	0.61	0.37	-0.5	-0.17	0.41	PWJQX
PWJBX	0.78		1.0	0.03	0.67	0.38	-0.45	0.08	0.43	PWJBX
PWJDX	0.79	1.0		0.02	0.67	0.38	-0.45	0.07	0.42	PWJDX
HYSQX	-0.21	0.03	0.02		-0.03	-0.26	0.51	0.7	-0.24	HYSQX
EMDQX	0.61	0.67	0.67	-0.03		0.64	-0.74	-0.12	0.88	EMDQX
PFRIX	0.37	0.38	0.38	-0.26	0.64		-0.5	-0.03	0.71	PFRIX
PFSQX	-0.5	-0.45	-0.45	0.51	-0.74	-0.5		0.64	-0.81	PFSQX
PGJQX	-0.17	0.08	0.07	0.7	-0.12	-0.03	0.64		-0.3	PGJQX
PGIQX	0.41	0.43	0.42	-0.24	0.88	0.71	-0.81	-0.3		PGIQX
	PWJQX	PWJBX	PWJDX	HYSQX	EMDQX	PFRIX	PFSQX	PGJQX	PGIQX

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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

PWJDX	+ 1.0	PWJBX
PGIQX	+ 0.88	EMDQX
PWJDX	+ 0.79	PWJQX
PWJBX	+ 0.78	PWJQX
PGIQX	+ 0.71	PFRIX
PGJQX	+ 0.7	HYSQX

High negative correlations

PGIQX	- 0.81	PFSQX
PFSQX	- 0.74	EMDQX
PFSQX	- 0.5	PFRIX
PFSQX	- 0.5	PWJQX
PFSQX	- 0.45	PWJDX
PFSQX	- 0.45	PWJBX

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
PWJQX	0.78	(0.08)	0.00	(2.39)	0.00	0.00	1.59	(1.71)	5.55
PWJBX	0.76	(0.18)	0.00	(0.13)	0.00	0.00	1.56	(1.72)	5.54
PWJDX	0.76	(0.18)	0.00	(0.12)	0.00	0.00	1.57	(1.70)	5.52
HYSQX	0.11	0.01	(0.64)	(0.35)	0.00	(0.17)	0.24	(0.24)	0.60
EMDQX	0.35	(0.06)	0.00	(2.02)	0.00	0.00	0.66	(0.65)	1.75
PFRIX	0.09	0.02	0.00	1.54	0.00	0.00	0.11	(0.11)	0.78
PFSQX	0.80	0.23	0.13	(2.54)	0.52	(0.99)	1.58	(1.42)	8.34
PGJQX	0.52	0.08	(0.02)	0.42	0.48	(0.61)	1.01	(1.04)	2.44
PGIQX	0.23	(0.04)	0.00	(0.48)	0.00	0.00	0.50	(0.64)	1.41

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