Prudential Floating Correlations

Mutual Funds . USA . 
Fund . Prudential Floating Rate
FRFZX Fund  USD 8.90  0.00  0.00%   
The current 90-days correlation between Prudential Floating Rate and Dreyfus Fund Inc is 0.06 (i.e., Significant diversification). The correlation of Prudential Floating 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 Floating Correlation With Market

Very poor diversification

The correlation between Prudential Floating Rate and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Floating Rate and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Prudential Floating Rate. 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 nation.

Moving together with Prudential Mutual Fund

  0.71PWJZX Prudential JennisonPairCorr
  0.71PWJAX Prudential JennisonPairCorr
  0.69PWJCX Prudential JennisonPairCorr
  0.97HYSZX Prudential Short DurationPairCorr
  0.96HYSAX Prudential Short DurationPairCorr
  0.96HYSCX Prudential Short DurationPairCorr
  0.73EMDCX Prudential EmergingPairCorr
  0.75EMDAX Prudential EmergingPairCorr
  0.75EMDZX Prudential EmergingPairCorr
  0.87PFSZX Prudential FinancialPairCorr
  0.87PFSAX Prudential FinancialPairCorr
  0.77PGJAX Prudential JennisonPairCorr
  0.77PGJCX Prudential JennisonPairCorr
  0.77PGJZX Prudential JennisonPairCorr
  1.0FRFAX Prudential Floating RatePairCorr
  0.99FRFCX Prudential Floating RatePairCorr
  0.66PGKZX Pgim Jennison TechnologyPairCorr
  0.91PGOAX Prudential Jennison SmallPairCorr
  0.83PGNAX Jennison Natural ResPairCorr
  0.66PGTOX Prudential Global TotalPairCorr
  0.62PGVZX Prudential GovernmentPairCorr
  0.63PHICX Prudential Muni HighPairCorr
  0.7PHIZX Prudential Muni HighPairCorr
  0.84PHLAX Prudential HealthPairCorr
  0.84PHSZX Prudential HealthPairCorr
  0.94PHYZX Prudential High YieldPairCorr
  0.93PHYEX Pgim High YieldPairCorr
  0.61PZTRX Prudential Global TotalPairCorr
  0.88PIBAX Prudential BalancedPairCorr
  0.87SUVCX Prudential Qma StrategicPairCorr
  0.87SUVAX Prudential Qma StrategicPairCorr
  0.79PIFCX Prudential Short TermPairCorr
  0.87SUVZX Prudential Qma StrategicPairCorr
  0.83PIFZX Prudential Short TermPairCorr

Moving against Prudential Mutual Fund

  0.82PHLCX Prudential HealthPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Floating 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 Floating'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
GDV  0.51  0.10  0.11  0.22  0.45 
(0.57)
 1.07 
(1.18)
 2.65 
TFILX  0.08  0.01 (0.23) 0.76  0.00 
(0.15)
 0.21 
(0.11)
 0.75 
PRTAX  0.09  0.01 (0.25) 2.26  0.00 
(0.16)
 0.21 
(0.11)
 0.75 
SAIFX  0.74  0.24  0.34  0.36  0.11 
(0.90)
 1.41 
(0.97)
 13.62 
SINAX  0.74  0.24  0.34  0.34  0.07 
(0.90)
 1.41 
(0.94)
 13.63 
CSVIX  1.03  0.26  0.34  0.24  0.38 
(1.39)
 2.07 
(1.45)
 17.07 
IDITX  0.13  0.01 (0.18) 0.39  0.00 
(0.18)
 0.25 
(0.25)
 0.62 
CALRX  1.03  0.26  0.34  0.24  0.38 
(1.40)
 2.11 
(1.42)
 17.09 
CLMAX  0.14  0.03 (0.17) 1.63  0.00 
(0.22)
 0.47 
(0.24)
 0.82 
DREVX  0.79  0.10  0.07  0.22  0.82 
(0.84)
 1.21 
(1.50)
 12.56 

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