Prudential Jennison Correlations

PJDCX Fund

USD 17.54 0.13 0.74%

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

Modest diversification

The correlation between Prudential Jennison Rising and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Rising 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 Rising. 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 main economic indicators.

Moving together with Prudential Mutual Fund

0.75	EMDCX	Prudential Emerging	Pair Corr
0.72	EMDAX	Prudential Emerging	Pair Corr
0.73	EMDZX	Prudential Emerging	Pair Corr
0.91	PFSZX	Prudential Financial	Pair Corr
0.9	PFSAX	Prudential Financial	Pair Corr
0.77	PGFCX	Pgim Conservative	Pair Corr
0.73	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.91	PGJAX	Prudential Jennison	Pair Corr
0.91	PGJCX	Prudential Jennison	Pair Corr
0.85	PGJZX	Prudential Jennison	Pair Corr
0.8	PGOAX	Prudential Jennison Small	Pair Corr
0.62	PGNAX	Jennison Natural Res	Pair Corr
0.87	PGTOX	Prudential Global Total	Pair Corr
0.72	PGVZX	Prudential Government	Pair Corr
0.72	PGVAX	Prudential Government	Pair Corr
0.65	PHECX	Prudential Global Total	Pair Corr
0.66	TGMBX	Prudential Porate Bond	Pair Corr
0.76	PHICX	Prudential Muni High	Pair Corr
0.7	PHIZX	Prudential Muni High	Pair Corr
0.91	PHLAX	Prudential Health	Pair Corr

Moving against Prudential Mutual Fund

0.66	FRFZX	Prudential Floating Rate	Pair Corr
0.62	FRFCX	Prudential Floating Rate	Pair Corr
0.44	PGIKX	Pgim Esg Short	Pair Corr
0.43	PGIPX	Pgim Esg Short	Pair Corr
0.42	FRFAX	Prudential Floating Rate	Pair Corr
0.37	PGIJX	Pgim Esg Short	Pair Corr
0.34	PGIGX	Pgim Esg Short	Pair Corr
0.54	SDMZX	Prudential Short Duration	Pair Corr
0.39	SDMAX	Prudential Short Duration	Pair Corr

Related Correlations Analysis

	DULTX	BXDCX	QNZIX	ASDIX	AOUNX	OHSHX	TAAQX	TASTX
DULTX		0.55	0.4	0.84	0.98	0.36	0.91	0.59	DULTX
BXDCX	0.55		0.82	0.42	0.53	0.87	0.5	0.98	BXDCX
QNZIX	0.4	0.82		0.3	0.37	0.79	0.28	0.77	QNZIX
ASDIX	0.84	0.42	0.3		0.91	0.39	0.92	0.46	ASDIX
AOUNX	0.98	0.53	0.37	0.91		0.38	0.95	0.57	AOUNX
OHSHX	0.36	0.87	0.79	0.39	0.38		0.39	0.85	OHSHX
TAAQX	0.91	0.5	0.28	0.92	0.95	0.39		0.55	TAAQX
TASTX	0.59	0.98	0.77	0.46	0.57	0.85	0.55		TASTX
	DULTX	BXDCX	QNZIX	ASDIX	AOUNX	OHSHX	TAAQX	TASTX

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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
DULTX	0.04	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	0.61
BXDCX	0.09	0.01	(0.50)	(0.40)	0.00	(0.17)	0.33	(0.11)	0.54
QNZIX	0.61	0.09	0.03	3.05	0.77	(0.61)	1.08	(1.13)	4.49
ASDIX	0.06	0.01	(0.46)	0.99	0.00	(0.14)	0.20	(0.10)	0.40
AOUNX	0.04	0.01	0.00	(3.54)	0.00	0.00	0.10	(0.10)	0.61
OHSHX	0.11	0.02	(0.18)	1.26	0.00	(0.16)	0.23	(0.22)	0.90
TAAQX	0.07	0.00	(0.49)	1.48	0.00	(0.17)	0.20	(0.10)	0.62
TASTX	0.08	0.01	(0.50)	(0.23)	0.00	(0.18)	0.21	(0.10)	0.62

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