Prudential Total Correlations

Mutual Funds . USA . 
Fund . Prudential Total Return
PDBSX Fund  USD 12.27  0.05  0.41%   
The current 90-days correlation between Prudential Total Return and Vanguard Diversified Equity is 0.07 (i.e., Significant 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

Poor diversification

The correlation between Prudential Total Return and DJI is 0.7 (i.e., Poor 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 producer price index.

Moving together with Prudential Mutual Fund

  0.67HYSQX Prudential Short DurationPairCorr
  0.69EMDQX Prudential EmergingPairCorr
  0.68PGJQX Prudential JennisonPairCorr
  0.95PGIQX Prudential GovernmentPairCorr
  0.71PGRQX Prudential Global RealPairCorr
  0.62PGTQX Prudential Global TotalPairCorr
  0.72PGTSX Prudential Global TotalPairCorr
  0.66SCFQX Pgim Securitized CreditPairCorr
  0.64SCFOX Pgim Securitized CreditPairCorr
  0.64SCFZX Pgim Securitized CreditPairCorr
  0.62SCFVX Pgim Securitized CreditPairCorr
  0.71PHEQX Prudential Global TotalPairCorr
  0.7PHIQX Prudential Muni HighPairCorr
  0.62PHLQX Prudential HealthPairCorr
  0.76PHYGX Pgim High YieldPairCorr
  0.78PHYQX Prudential High YieldPairCorr
  0.66PIBQX Prudential BalancedPairCorr
  0.84PIFEX Prudential Short TermPairCorr
  0.84PIFGX Prudential Short TermPairCorr
  0.77SDMQX Prudential Short DurationPairCorr
  0.72SDVRX Prudential Qma MidPairCorr
  0.71PJDQX Pgim Jennison RisingPairCorr
  0.63PJEQX Prudential Real EstatePairCorr
  0.68PJERX Prudential JennisonPairCorr
  0.62PJHRX Prudential HealthPairCorr
  0.68PJIQX Prudential JennisonPairCorr

Related Correlations Analysis


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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