Prudential Total Correlations

PDBSX Fund

USD 11.94 0.01 0.08%

The current 90-days correlation between Prudential Total Return and Ftufox is 0.5 (i.e., Very weak 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

Average diversification

The correlation between Prudential Total Return and DJI is 0.12 (i.e., Average 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 state.

Moving together with Prudential Mutual Fund

0.91	MWTNX	Metropolitan West Total	Pair Corr
0.9	MWTSX	Metropolitan West Total	Pair Corr
0.92	PTTPX	Pimco Total Return	Pair Corr
0.95	PTRRX	Total Return	Pair Corr
0.95	PTRAX	Total Return	Pair Corr
0.87	PTTRX	Total Return	Pair Corr
0.93	FIWGX	Strategic Advisers	Pair Corr
0.9	DODIX	Dodge Income	Pair Corr
0.98	MWTIX	Metropolitan West Total	Pair Corr
0.91	MWTRX	Metropolitan West Total	Pair Corr
0.88	GPBFX	Gmo E Plus	Pair Corr
0.69	WARCX	Wells Fargo Advantage	Pair Corr
0.65	GF	New Germany Closed	Pair Corr
0.62	MCD	McDonalds	Pair Corr
0.72	VZ	Verizon Communications Aggressive Push	Pair Corr
0.68	HD	Home Depot	Pair Corr

Moving against Prudential Mutual Fund

0.61	PQTAX	Pimco Trends Managed	Pair Corr
0.61	PQTIX	Aa Pimco Tr	Pair Corr
0.6	PQTNX	Pimco Trends Managed	Pair Corr
0.51	GPMFX	Guidepath Managed Futures	Pair Corr
0.34	BA	Boeing	Pair Corr

Related Correlations Analysis

	FTUFOX	FDZBPX	FZNOPX	MSSGX	FWNHTX	FUHKBX	FABWX
FTUFOX		0.61	0.37	-0.2	0.67	0.49	0.26	FTUFOX
FDZBPX	0.61		0.49	-0.22	0.6	0.58	0.68	FDZBPX
FZNOPX	0.37	0.49		-0.06	0.37	0.88	0.67	FZNOPX
MSSGX	-0.2	-0.22	-0.06		-0.27	-0.2	-0.01	MSSGX
FWNHTX	0.67	0.6	0.37	-0.27		0.61	0.23	FWNHTX
FUHKBX	0.49	0.58	0.88	-0.2	0.61		0.57	FUHKBX
FABWX	0.26	0.68	0.67	-0.01	0.23	0.57		FABWX
	FTUFOX	FDZBPX	FZNOPX	MSSGX	FWNHTX	FUHKBX	FABWX

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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

FUHKBX	+ 0.88	FZNOPX
FABWX	+ 0.68	FDZBPX
FWNHTX	+ 0.67	FTUFOX
FABWX	+ 0.67	FZNOPX
FDZBPX	+ 0.61	FTUFOX
FUHKBX	+ 0.61	FWNHTX

High negative correlations

FWNHTX	- 0.27	MSSGX
MSSGX	- 0.22	FDZBPX
FUHKBX	- 0.2	MSSGX
MSSGX	- 0.2	FTUFOX
MSSGX	- 0.06	FZNOPX
FABWX	- 0.01	MSSGX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FTUFOX	0.09	0.00	(0.68)	0.12	0.00	(0.11)	0.22	(0.11)	0.57
FDZBPX	0.38	0.08	(0.02)	(1.90)	0.48	(0.45)	0.70	(0.70)	2.21
FZNOPX	0.72	0.09	0.01	0.71	0.69	(0.82)	1.55	(1.63)	3.75
MSSGX	1.60	0.40	0.17	(8.64)	1.60	(2.00)	3.81	(2.32)	11.74
FWNHTX	0.02	(0.01)	(3.58)	(4.47)	0.00	(0.03)	0.07	(0.04)	0.12
FUHKBX	0.54	0.09	0.03	0.55	0.49	(0.59)	1.11	(0.90)	2.32
FABWX	0.90	0.15	0.03	(1.70)	1.52	(0.95)	1.52	(1.12)	6.74

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