Prudential Jennison Correlations

JSCRX Fund

USD 20.23 0.31 1.56%

The current 90-days correlation between Prudential Jennison Small and Balanced Strategy Fund is 0.84 (i.e., Very poor 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 Small and DJI is 0.59 (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 Small and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Prudential Jennison Small. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Prudential Mutual Fund

0.79	VSGAX	Vanguard Small Cap	Pair Corr
0.79	VSGIX	Vanguard Small Cap	Pair Corr
0.78	VISGX	Vanguard Small Cap	Pair Corr
0.89	VEXPX	Vanguard Explorer	Pair Corr
0.89	VEXRX	Vanguard Explorer	Pair Corr
0.86	JGMIX	Janus Triton	Pair Corr
0.85	JGMRX	Janus Triton	Pair Corr
0.86	JGMAX	Janus Triton	Pair Corr
0.84	JGMCX	Janus Triton	Pair Corr
0.89	JGMNX	Janus Triton	Pair Corr
0.61	NHS	Neuberger Berman High	Pair Corr
0.72	CVX	Chevron Corp Earnings Call Today	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr
0.77	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.77	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.64	PG	Procter Gamble	Pair Corr
0.85	TRV	The Travelers Companies	Pair Corr
0.78	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.75	VZ	Verizon Communications	Pair Corr
0.72	HPQ	HP Inc	Pair Corr

Moving against Prudential Mutual Fund

0.65	BA	Boeing	Pair Corr
0.35	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RBLCX	LOTCX	BXDCX	OWSBX	IHIAX	QNZIX	EGLNX
RBLCX		-0.13	0.0	0.13	0.71	-0.1	0.31	RBLCX
LOTCX	-0.13		0.5	0.46	0.04	0.71	0.37	LOTCX
BXDCX	0.0	0.5		0.94	0.39	0.76	0.38	BXDCX
OWSBX	0.13	0.46	0.94		0.51	0.75	0.36	OWSBX
IHIAX	0.71	0.04	0.39	0.51		0.31	0.12	IHIAX
QNZIX	-0.1	0.71	0.76	0.75	0.31		0.3	QNZIX
EGLNX	0.31	0.37	0.38	0.36	0.12	0.3		EGLNX
	RBLCX	LOTCX	BXDCX	OWSBX	IHIAX	QNZIX	EGLNX

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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

OWSBX	+ 0.94	BXDCX
QNZIX	+ 0.76	BXDCX
QNZIX	+ 0.75	OWSBX
IHIAX	+ 0.71	RBLCX
QNZIX	+ 0.71	LOTCX
IHIAX	+ 0.51	OWSBX

High negative correlations

LOTCX	- 0.13	RBLCX
QNZIX	- 0.1	RBLCX
BXDCX	- 0.0	RBLCX

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
RBLCX	0.38	0.00	(0.08)	0.10	0.55	(0.39)	0.77	(0.68)	2.90
LOTCX	0.46	0.05	(0.02)	0.31	0.47	(0.55)	0.78	(0.87)	3.77
BXDCX	0.08	0.00	(0.69)	0.00	0.00	(0.17)	0.33	(0.11)	0.54
OWSBX	0.08	0.00	(0.65)	0.16	0.00	(0.15)	0.20	(0.20)	0.50
IHIAX	0.19	0.01	(0.25)	0.30	0.11	(0.26)	0.51	(0.39)	1.55
QNZIX	0.58	0.12	0.05	1.53	0.68	(0.61)	1.09	(1.13)	4.49
EGLNX	0.99	0.17	0.08	0.37	1.38	(1.03)	2.03	(2.48)	6.78

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