Prudential Jennison Correlations

PJSQX Fund

USD 25.59 0.02 0.08%

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 Small and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Small 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 Small. 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

0.63	HYSQX	Prudential Short Duration	Pair Corr
0.82	PFRIX	Prudential Floating Rate	Pair Corr
0.93	PFSQX	Prudential Jennison	Pair Corr
0.83	PGKCX	Pgim Jennison Technology	Pair Corr
0.83	PGKAX	Pgim Jennison Technology	Pair Corr
0.78	SCFQX	Pgim Securitized Credit	Pair Corr
0.79	SCFOX	Pgim Securitized Credit	Pair Corr
0.78	SCFZX	Pgim Securitized Credit	Pair Corr
0.63	PHYQX	Prudential High Yield	Pair Corr
0.93	SUVQX	Prudential Qma Strategic	Pair Corr
0.73	PIBQX	Prudential Balanced	Pair Corr
0.94	JSCRX	Prudential Jennison Small	Pair Corr
0.96	SDVRX	Prudential Qma Mid	Pair Corr
0.78	PJDQX	Pgim Jennison Rising	Pair Corr
0.88	PJFQX	Prudential Jennison	Pair Corr
0.92	PJFOX	Prudential Jennison	Pair Corr
0.88	PJGRX	Prudential Jennison	Pair Corr
0.92	PJGQX	Prudential Jennison Mid	Pair Corr
0.97	PJORX	Prudential Jennison	Pair Corr
0.97	PJOQX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.72	PGTSX	Prudential Global Total	Pair Corr
0.69	PGIQX	Prudential Government	Pair Corr
0.68	PGTQX	Prudential Global Total	Pair Corr
0.62	PHLQX	Prudential Health	Pair Corr
0.52	EMDQX	Prudential Emerging	Pair Corr
0.39	PWJRX	Prudential Jennison	Pair Corr
0.38	PWJBX	Pgim Jennison Intern	Pair Corr
0.38	PWJDX	Pgim Jennison Intern	Pair Corr
0.62	PJHRX	Prudential Health	Pair Corr
0.4	PJERX	Prudential Jennison	Pair Corr
0.37	PJIQX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	SMQFX	POEIX	SMNIX	BXECX	PWEAX
SMQFX		0.91	-0.01	0.74	0.98	SMQFX
POEIX	0.91		-0.01	0.62	0.93	POEIX
SMNIX	-0.01	-0.01		0.1	0.03	SMNIX
BXECX	0.74	0.62	0.1		0.7	BXECX
PWEAX	0.98	0.93	0.03	0.7		PWEAX
	SMQFX	POEIX	SMNIX	BXECX	PWEAX

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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

PWEAX	+ 0.98	SMQFX
PWEAX	+ 0.93	POEIX
POEIX	+ 0.91	SMQFX
BXECX	+ 0.74	SMQFX
PWEAX	+ 0.7	BXECX
BXECX	+ 0.62	POEIX

High negative correlations

SMNIX	- 0.01	POEIX
SMNIX	- 0.01	SMQFX

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
SMQFX	0.59	(0.04)	(0.12)	0.00	0.77	(0.59)	1.27	(1.33)	3.52
POEIX	0.82	0.01	(0.10)	0.05	1.03	(0.85)	1.54	(1.82)	5.70
SMNIX	0.37	(0.08)	0.00	(1.75)	0.00	0.00	0.77	(0.95)	2.60
BXECX	0.27	0.00	(0.30)	0.05	0.27	(0.37)	0.67	(0.52)	1.45
PWEAX	0.76	(0.02)	(0.08)	0.03	1.07	(0.73)	1.64	(1.76)	6.28

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