Prudential Total Correlations

PDBZX Fund

USD 12.16 0.02 0.16%

The current 90-days correlation between Prudential Total Return and Prudential Total Return is -0.1 (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

Modest diversification

The correlation between Prudential Total Return and DJI is 0.21 (i.e., Modest 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 nation.

Moving together with Prudential Mutual Fund

0.75	PGVZX	Prudential Government	Pair Corr
0.96	PGVAX	Prudential Government	Pair Corr
0.7	PHEAX	Prudential Global Total	Pair Corr
0.62	PHEZX	Prudential Global Total	Pair Corr
0.62	PHICX	Prudential Muni High	Pair Corr
0.63	PHIZX	Prudential Muni High	Pair Corr
0.67	PIFCX	Prudential Short Term	Pair Corr

Moving against Prudential Mutual Fund

0.31	PWJAX	Prudential Jennison	Pair Corr
0.31	PWJCX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	PTRQX	PRILX	FAJTX	HNACX	HACAX	HRCAX	TWCUX	TWCCX	TWUIX	IBFFX
PTRQX		0.11	0.34	0.1	0.17	0.14	0.23	0.19	0.22	0.64	PTRQX
PRILX	0.11		0.68	0.82	0.02	0.86	0.08	0.76	0.75	0.63	PRILX
FAJTX	0.34	0.68		0.65	0.62	0.73	0.63	0.63	0.71	0.61	FAJTX
HNACX	0.1	0.82	0.65		0.08	0.94	0.13	0.88	0.87	0.56	HNACX
HACAX	0.17	0.02	0.62	0.08		0.15	0.95	0.07	0.21	0.04	HACAX
HRCAX	0.14	0.86	0.73	0.94	0.15		0.19	0.87	0.87	0.6	HRCAX
TWCUX	0.23	0.08	0.63	0.13	0.95	0.19		0.13	0.29	0.14	TWCUX
TWCCX	0.19	0.76	0.63	0.88	0.07	0.87	0.13		0.99	0.57	TWCCX
TWUIX	0.22	0.75	0.71	0.87	0.21	0.87	0.29	0.99		0.58	TWUIX
IBFFX	0.64	0.63	0.61	0.56	0.04	0.6	0.14	0.57	0.58		IBFFX
	PTRQX	PRILX	FAJTX	HNACX	HACAX	HRCAX	TWCUX	TWCCX	TWUIX	IBFFX

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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
PTRQX	0.15	(0.01)	(0.32)	(0.06)	0.18	(0.15)	0.33	(0.33)	0.90
PRILX	0.90	0.29	0.35	0.40	0.22	(1.17)	1.16	(1.24)	22.92
FAJTX	0.54	0.00	(0.02)	0.07	0.74	(0.55)	1.19	(1.22)	3.09
HNACX	0.98	0.20	0.09	(1.88)	0.99	(1.05)	2.33	(1.93)	14.32
HACAX	0.78	(0.07)	(0.05)	0.00	1.23	(0.73)	1.71	(1.94)	4.75
HRCAX	0.99	0.10	0.10	0.14	0.97	(1.07)	2.33	(1.93)	15.25
TWCUX	0.83	(0.05)	(0.04)	0.02	1.16	(0.81)	1.79	(2.03)	4.77
TWCCX	1.21	0.33	0.24	0.75	0.88	(1.51)	2.20	(2.03)	25.50
TWUIX	1.02	0.15	0.11	0.29	1.00	(1.16)	2.17	(2.02)	14.58
IBFFX	0.10	0.00	(0.55)	0.11	0.00	(0.14)	0.24	(0.16)	0.63

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