Prudential Corporate Correlations

TGMBX Fund

USD 9.95 0.05 0.50%

The current 90-days correlation between Prudential Porate Bond and Ft 7934 Corporate is 0.8 (i.e., Very poor diversification). The correlation of Prudential Corporate 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 Corporate Correlation With Market

Average diversification

The correlation between Prudential Porate Bond and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Porate Bond 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 Prudential Porate Bond. 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 bureau of labor statistics.

Moving together with Prudential Mutual Fund

0.85	HYSZX	Prudential Short Duration	Pair Corr
0.85	HYSAX	Prudential Short Duration	Pair Corr
0.84	HYSCX	Prudential Short Duration	Pair Corr
0.87	EMDCX	Prudential Emerging	Pair Corr
0.89	EMDAX	Prudential Emerging	Pair Corr
0.87	EMDZX	Prudential Emerging	Pair Corr
0.78	PGAQX	Pgim Esg High	Pair Corr
0.77	PGANX	Pgim Esg High	Pair Corr
0.78	PGAUX	Pgim Esg High	Pair Corr
0.77	PGAVX	Pgim Esg High	Pair Corr
0.75	PGFCX	Pgim Conservative	Pair Corr
0.69	PGIGX	Pgim Esg Short	Pair Corr
0.67	PGIPX	Pgim Esg Short	Pair Corr
0.7	PGIKX	Pgim Esg Short	Pair Corr
0.96	PGTOX	Prudential Global Total	Pair Corr
0.8	PGVZX	Prudential Government	Pair Corr
0.99	PGVAX	Prudential Government	Pair Corr
0.97	PHECX	Prudential Global Total	Pair Corr
0.97	PHEAX	Prudential Global Total	Pair Corr
0.97	PHEZX	Prudential Global Total	Pair Corr
0.68	PHICX	Prudential Muni High	Pair Corr
0.76	PHIZX	Prudential Muni High	Pair Corr

Moving against Prudential Mutual Fund

0.68	PGKZX	Pgim Jennison Technology	Pair Corr
0.67	PGOAX	Prudential Jennison Small	Pair Corr
0.54	PGNAX	Jennison Natural Res	Pair Corr

Related Correlations Analysis

	FZNQEX	WABMSX	TBLDX	DIHRX	VIPIX	PRVBX	FMUUX	BXECX
FZNQEX		0.08	0.35	0.75	0.89	0.87	0.73	0.77	FZNQEX
WABMSX	0.08		0.93	0.43	0.25	0.23	0.21	0.26	WABMSX
TBLDX	0.35	0.93		0.64	0.51	0.47	0.43	0.49	TBLDX
DIHRX	0.75	0.43	0.64		0.93	0.91	0.91	0.95	DIHRX
VIPIX	0.89	0.25	0.51	0.93		0.97	0.93	0.95	VIPIX
PRVBX	0.87	0.23	0.47	0.91	0.97		0.93	0.93	PRVBX
FMUUX	0.73	0.21	0.43	0.91	0.93	0.93		0.97	FMUUX
BXECX	0.77	0.26	0.49	0.95	0.95	0.93	0.97		BXECX
	FZNQEX	WABMSX	TBLDX	DIHRX	VIPIX	PRVBX	FMUUX	BXECX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Corporate 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 Corporate'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
FZNQEX	0.08	(0.01)	0.23	4.87	0.11	(0.08)	0.16	(0.17)	0.48
WABMSX	0.61	0.03	0.06	0.02	0.79	(0.62)	1.38	(1.29)	3.66
TBLDX	0.38	0.00	0.00	(0.03)	0.00	0.00	0.70	(0.80)	2.12
DIHRX	0.59	0.09	0.13	0.15	0.66	(0.69)	1.51	(1.19)	3.80
VIPIX	0.22	0.02	0.20	0.61	0.18	(0.27)	0.53	(0.44)	1.30
PRVBX	0.10	0.01	0.41	0.26	0.00	(0.13)	0.23	(0.17)	0.53
FMUUX	0.03	0.00	0.00	(0.06)	0.00	0.00	0.10	0.00	0.40
BXECX	0.19	0.03	0.25	(0.58)	0.00	(0.32)	0.55	(0.27)	1.21

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