Prudential Government Correlations

PGIQX Fund

USD 7.80 0.02 0.26%

The current 90-days correlation between Prudential Government and Tax Managed Large Cap is 0.37 (i.e., Weak diversification). The correlation of Prudential Government 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 Government Correlation With Market

Modest diversification

The correlation between Prudential Government Income and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Government Income 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 Government Income. 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

0.79	EMDQX	Prudential Emerging	Pair Corr
0.72	PFSQX	Prudential Jennison	Pair Corr
0.61	PGJQX	Prudential Jennison	Pair Corr
0.95	PGTQX	Prudential Global Total	Pair Corr
0.93	PHIQX	Prudential Muni High	Pair Corr
0.68	PIBQX	Prudential Balanced	Pair Corr
0.68	JSCRX	Prudential Jennison Small	Pair Corr
0.61	PIFEX	Prudential Short Term	Pair Corr
0.74	SDVRX	Prudential Qma Mid	Pair Corr
0.63	PJDQX	Pgim Jennison Rising	Pair Corr
0.68	PJEQX	Prudential Real Estate	Pair Corr
0.81	PJERX	Prudential Jennison	Pair Corr
0.71	PJGQX	Prudential Jennison Mid	Pair Corr
0.7	PJSQX	Prudential Jennison Small	Pair Corr
0.64	JDERX	Prudential Jennison Mid	Pair Corr
0.99	JDRVX	Prudential Government	Pair Corr
0.67	JDTRX	Prudential Short Term	Pair Corr
0.67	JDVRX	Prudential Jennison Value	Pair Corr
0.74	PMVFX	Prudential Qma Mid	Pair Corr
0.74	PMVQX	Prudential Qma Mid	Pair Corr

Related Correlations Analysis

	RETSX	TRSAX	TAAKX	JAAIX	DFELX	TRBCX	KCGSX	CMACX
RETSX		0.71	0.77	0.63	0.96	0.64	0.82	0.94	RETSX
TRSAX	0.71		0.83	0.07	0.55	0.13	0.38	0.82	TRSAX
TAAKX	0.77	0.83		0.15	0.69	0.3	0.56	0.9	TAAKX
JAAIX	0.63	0.07	0.15		0.74	0.74	0.68	0.47	JAAIX
DFELX	0.96	0.55	0.69	0.74		0.81	0.92	0.86	DFELX
TRBCX	0.64	0.13	0.3	0.74	0.81		0.92	0.46	TRBCX
KCGSX	0.82	0.38	0.56	0.68	0.92	0.92		0.69	KCGSX
CMACX	0.94	0.82	0.9	0.47	0.86	0.46	0.69		CMACX
	RETSX	TRSAX	TAAKX	JAAIX	DFELX	TRBCX	KCGSX	CMACX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Government 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 Government'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
RETSX	0.55	0.00	0.00	0.01	0.82	(0.53)	0.99	(1.10)	3.52
TRSAX	0.91	(0.03)	0.00	(0.05)	0.00	0.00	1.54	(2.26)	8.30
TAAKX	0.62	(0.02)	0.00	(0.03)	0.00	0.00	1.01	(1.29)	5.92
JAAIX	0.15	0.02	0.06	0.19	0.07	(0.20)	0.31	(0.25)	1.13
DFELX	0.58	0.02	0.02	0.04	0.86	(0.58)	1.12	(1.39)	3.77
TRBCX	0.83	0.06	0.06	0.14	1.02	(0.90)	1.67	(1.89)	5.59
KCGSX	0.73	0.04	0.03	0.08	1.07	(0.71)	1.31	(1.53)	5.19
CMACX	0.38	(0.01)	(0.01)	(0.02)	0.61	(0.35)	0.67	(0.72)	2.68

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Prudential Government Correlations

Prudential Government Correlation With Market

Modest diversification

Moving together with Prudential Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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