Prudential Total Correlations

Mutual Funds . USA . 
Fund . Prudential Total Return
PDBRX Fund  USD 12.07  0.04  0.33%   
The current 90-days correlation between Prudential Total Return and California Bond Fund is -0.06 (i.e., Good diversification). The correlation of Prudential Total 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 Total Correlation With Market

Good diversification

The correlation between Prudential Total Return and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Total Return and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Prudential Total Return. 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

  0.9EMDCX Prudential EmergingPairCorr
  0.9EMDAX Prudential EmergingPairCorr
  0.88EMDZX Prudential EmergingPairCorr
  0.99PGVZX Prudential GovernmentPairCorr
  0.99PGVAX Prudential GovernmentPairCorr
  0.97PHECX Prudential Global TotalPairCorr
  0.96PHEAX Prudential Global TotalPairCorr
  0.99TGMBX Prudential Porate BondPairCorr
  0.63PHIZX Prudential Muni HighPairCorr
  0.7PHLAX Prudential HealthPairCorr
  0.7PHLCX Prudential HealthPairCorr
  0.69PHSZX Prudential HealthPairCorr

Moving against Prudential Mutual Fund

  0.74PFSZX Prudential FinancialPairCorr
  0.74PFSAX Prudential FinancialPairCorr
  0.79FRFZX Prudential Floating RatePairCorr
  0.79FRFCX Prudential Floating RatePairCorr
  0.78FRFAX Prudential Floating RatePairCorr
  0.73PGKZX Pgim Jennison TechnologyPairCorr
  0.64SUVCX Prudential Qma StrategicPairCorr
  0.63PGOAX Prudential Jennison SmallPairCorr
  0.37PGNAX Jennison Natural ResPairCorr
  0.31PIBAX Prudential BalancedPairCorr

Related Correlations Analysis

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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   
PATFX
+ 0.96
TFBIX
LBIIX
+ 0.91
FZNQEX
TFBIX
+ 0.88
USCBX
PATFX
+ 0.85
USCBX
SWSFX
+ 0.83
FULIX
PATFX
+ 0.71
LBIIX
  
High negative correlations   
SWSFX
- 0.54
LBIIX
SWSFX
- 0.46
FZNQEX
LBIIX
- 0.4
FULIX
FULIX
- 0.36
FZNQEX
SWSFX
- 0.17
USCBX
IPBAX
- 0.12
LBIIX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Total 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 Total'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.

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