Prudential Core Correlations

TPCRX Fund

USD 8.71 0.01 0.11%

The current 90-days correlation between Prudential E Bond and Franklin Real Estate is 0.29 (i.e., Modest diversification). The correlation of Prudential Core 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 Core Correlation With Market

Average diversification

The correlation between Prudential E Bond and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential E 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 E 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 metropolitan statistical area.

Moving together with Prudential Mutual Fund

0.85	HYSQX	Prudential Short Duration	Pair Corr
0.89	EMDQX	Prudential Emerging	Pair Corr
1.0	PGIQX	Prudential Government	Pair Corr
0.96	PGTQX	Prudential Global Total	Pair Corr
0.96	PGTSX	Prudential Global Total	Pair Corr
0.75	SCFQX	Pgim Securitized Credit	Pair Corr
0.71	SCFOX	Pgim Securitized Credit	Pair Corr
0.75	SCFZX	Pgim Securitized Credit	Pair Corr
0.7	SCFVX	Pgim Securitized Credit	Pair Corr
0.97	PHEQX	Prudential Global Total	Pair Corr
0.73	PHIQX	Prudential Muni High	Pair Corr
0.8	PHYGX	Pgim High Yield	Pair Corr
0.82	PHYQX	Prudential High Yield	Pair Corr
0.96	PIFEX	Prudential Short Term	Pair Corr
0.95	PIFGX	Prudential Short Term	Pair Corr
0.9	SDMQX	Prudential Short Duration	Pair Corr
0.79	PJERX	Prudential Jennison	Pair Corr
0.79	PJIQX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

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

Related Correlations Analysis

	FREEX	PAREX	REINX	VGSIX	CREFX	MRESX	SEIRX	FORFX
FREEX		0.69	0.66	0.64	0.64	0.67	0.75	0.04	FREEX
PAREX	0.69		0.96	0.95	0.95	0.95	0.95	0.54	PAREX
REINX	0.66	0.96		0.99	0.98	1.0	0.97	0.56	REINX
VGSIX	0.64	0.95	0.99		0.99	0.99	0.96	0.59	VGSIX
CREFX	0.64	0.95	0.98	0.99		0.98	0.95	0.65	CREFX
MRESX	0.67	0.95	1.0	0.99	0.98		0.98	0.54	MRESX
SEIRX	0.75	0.95	0.97	0.96	0.95	0.98		0.41	SEIRX
FORFX	0.04	0.54	0.56	0.59	0.65	0.54	0.41		FORFX
	FREEX	PAREX	REINX	VGSIX	CREFX	MRESX	SEIRX	FORFX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Core 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 Core'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FREEX	0.99	(0.13)	(0.30)	1.62	(2.46)	7.05
PAREX	1.02	(0.08)	(0.19)	1.65	(2.30)	6.34
REINX	0.90	(0.01)	(0.08)	1.61	(1.78)	4.62
VGSIX	0.92	0.00	(0.07)	1.73	(1.97)	4.57
CREFX	0.91	0.01	(0.05)	1.59	(1.75)	4.82
MRESX	0.91	(0.01)	(0.09)	1.67	(1.75)	4.48
SEIRX	0.94	(0.04)	(0.12)	1.69	(2.42)	4.42
FORFX	0.05	0.02	(5.40)	0.11	0.00	0.32

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