Prudential Jennison Correlations

PGJQX Fund

USD 17.42 0.20 1.14%

The current 90-days correlation between Prudential Jennison and Fidelity Real Estate is 0.64 (i.e., Poor diversification). The correlation of Prudential Jennison 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 Jennison Correlation With Market

Significant diversification

The correlation between Prudential Jennison Global and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Global 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 Jennison Global. 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

0.82	HYSQX	Prudential Short Duration	Pair Corr
0.66	PFRIX	Prudential Floating Rate	Pair Corr
0.62	PGKCX	Pgim Jennison Technology	Pair Corr
0.62	PGKAX	Pgim Jennison Technology	Pair Corr
0.63	PGKRX	Pgim Jennison Technology	Pair Corr
0.66	SCFQX	Pgim Securitized Credit	Pair Corr
0.64	SCFOX	Pgim Securitized Credit	Pair Corr
0.65	SCFZX	Pgim Securitized Credit	Pair Corr
0.65	SCFVX	Pgim Securitized Credit	Pair Corr
0.85	PHYGX	Pgim High Yield	Pair Corr
0.86	PHYQX	Prudential High Yield	Pair Corr
0.71	PIBQX	Prudential Balanced	Pair Corr
0.77	SDMQX	Prudential Short Duration	Pair Corr
0.66	SDVRX	Prudential Qma Mid	Pair Corr
0.78	PJDQX	Pgim Jennison Rising	Pair Corr
0.75	PJEQX	Prudential Real Estate	Pair Corr

Moving against Prudential Mutual Fund

0.57	PHLQX	Prudential Health	Pair Corr
0.58	PJHRX	Prudential Health	Pair Corr

Related Correlations Analysis

	FIKMX	TIREX	FORFX	DCREX	CNREX	MSRDX	SEIRX	AREWX
FIKMX		0.74	0.22	0.77	0.79	0.85	0.76	0.83	FIKMX
TIREX	0.74		0.05	0.67	0.63	0.62	0.88	0.94	TIREX
FORFX	0.22	0.05		0.19	0.29	0.28	0.49	0.34	FORFX
DCREX	0.77	0.67	0.19		0.92	0.55	0.72	0.75	DCREX
CNREX	0.79	0.63	0.29	0.92		0.65	0.74	0.74	CNREX
MSRDX	0.85	0.62	0.28	0.55	0.65		0.69	0.71	MSRDX
SEIRX	0.76	0.88	0.49	0.72	0.74	0.69		0.97	SEIRX
AREWX	0.83	0.94	0.34	0.75	0.74	0.71	0.97		AREWX
	FIKMX	TIREX	FORFX	DCREX	CNREX	MSRDX	SEIRX	AREWX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Jennison 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 Jennison'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
FIKMX	0.21	0.01	(0.28)	0.30	0.21	(0.23)	0.49	(0.41)	1.40
TIREX	0.70	0.04	(0.05)	0.41	0.78	(0.78)	1.38	(1.36)	3.82
FORFX	0.05	0.04	0.00	13.83	0.00	0.00	0.11	0.00	0.21
DCREX	0.69	0.00	(0.06)	0.10	0.86	(0.72)	1.37	(1.58)	4.22
CNREX	0.61	0.02	(0.05)	0.16	0.75	(0.67)	1.22	(1.53)	4.85
MSRDX	0.41	0.04	(0.07)	1.09	0.42	(0.65)	1.11	(0.86)	3.75
SEIRX	0.68	0.06	(0.02)	0.38	0.71	(0.79)	1.39	(1.27)	3.76
AREWX	0.68	0.07	(0.03)	1.25	0.78	(0.73)	1.30	(1.31)	3.79

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