Pgim Jennison Correlations

TBDQX Fund

USD 17.93 0.43 2.34%

The current 90-days correlation between Pgim Jennison Diversified and Us Government Securities is 0.03 (i.e., Significant diversification). The correlation of Pgim 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.

Pgim Jennison Correlation With Market

Weak diversification

The correlation between Pgim Jennison Diversified and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Jennison Diversified and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Pgim Jennison Diversified. 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 Pgim Mutual Fund

0.79	PFSQX	Prudential Jennison	Pair Corr
0.91	PGKCX	Pgim Jennison Technology	Pair Corr
0.9	PGKAX	Pgim Jennison Technology	Pair Corr
0.9	PGKRX	Pgim Jennison Technology	Pair Corr
0.75	PHLQX	Prudential Health	Pair Corr
0.84	PIBQX	Prudential Balanced	Pair Corr
0.84	JSCRX	Prudential Jennison Small	Pair Corr
0.79	SDVRX	Prudential Qma Mid	Pair Corr
0.73	PJDQX	Pgim Jennison Rising	Pair Corr
0.9	PJFPX	Prudential Jennison	Pair Corr
0.9	PJFQX	Prudential Jennison	Pair Corr
0.9	PJFOX	Prudential Jennison	Pair Corr
0.62	PJHRX	Prudential Health	Pair Corr

Moving against Pgim Mutual Fund

0.61	PIFGX	Prudential Short Term	Pair Corr
0.6	PIFEX	Prudential Short Term	Pair Corr
0.57	PGIQX	Prudential Government	Pair Corr
0.56	PGTSX	Prudential Global Total	Pair Corr
0.55	PGTQX	Prudential Global Total	Pair Corr
0.52	EMDQX	Prudential Emerging	Pair Corr
0.48	SCFQX	Pgim Securitized Credit	Pair Corr
0.47	SCFOX	Pgim Securitized Credit	Pair Corr
0.47	SCFZX	Pgim Securitized Credit	Pair Corr
0.44	SCFVX	Pgim Securitized Credit	Pair Corr
0.44	PHEQX	Prudential Global Total	Pair Corr
0.39	PHYQX	Prudential High Yield	Pair Corr
0.38	HYSQX	Prudential Short Duration	Pair Corr
0.33	PHYGX	Pgim High Yield	Pair Corr
0.62	JDTRX	Prudential Short Term	Pair Corr
0.61	SDMQX	Prudential Short Duration	Pair Corr
0.58	JDRVX	Prudential Government	Pair Corr
0.54	TPCRX	Prudential E Bond	Pair Corr
0.54	TPCQX	Prudential E Bond	Pair Corr
0.48	PJRQX	Prudential Qma Intl	Pair Corr
0.32	JDYRX	Prudential High Yield	Pair Corr

Related Correlations Analysis

	RGVJX	TWACX	TUIXX	SPAXX
RGVJX		0.95	0.35	0.8	RGVJX
TWACX	0.95		0.46	0.79	TWACX
TUIXX	0.35	0.46		0.39	TUIXX
SPAXX	0.8	0.79	0.39		SPAXX
	RGVJX	TWACX	TUIXX	SPAXX

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Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim 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 Pgim 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
RGVJX	0.25	0.02	0.06	1.06	0.24	(0.30)	0.60	(0.50)	1.55
TWACX	0.09	0.01	0.02	(0.16)	0.00	(0.14)	0.22	(0.11)	0.45
TUIXX	0.03	0.01	0.00	(0.31)	0.00	0.00	0.00	0.00	1.01
SPAXX	0.03	0.01	0.00	(0.32)	0.00	0.00	0.00	0.00	1.01

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