Prudential Jennison Correlations

Mutual Funds . USA . 
Fund . Prudential Jennison Small
PJSQX Fund  USD 26.13  0.17  0.65%   
The current 90-days correlation between Prudential Jennison Small and Prudential Government Income is -0.01 (i.e., Good 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

Almost no diversification

The correlation between Prudential Jennison Small and DJI is 0.91 (i.e., Almost no 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

  0.72PWJQX Prudential JennisonPairCorr
  0.71PWJRX Prudential JennisonPairCorr
  0.86HYSQX Prudential Short DurationPairCorr
  0.78EMDQX Prudential EmergingPairCorr
  0.78PFRIX Prudential Floating RatePairCorr
  0.74PFSQX Prudential JennisonPairCorr
  0.65PGRQX Prudential Global RealPairCorr
  0.69PGTQX Prudential Global TotalPairCorr
  0.68PGTSX Prudential Global TotalPairCorr
  0.84SCFQX Pgim Securitized CreditPairCorr
  0.85SCFOX Pgim Securitized CreditPairCorr
  0.85SCFZX Pgim Securitized CreditPairCorr
  0.85SCFVX Pgim Securitized CreditPairCorr
  0.71PHIQX Prudential Muni HighPairCorr
  0.79PHLQX Prudential HealthPairCorr
  0.84PHYGX Pgim High YieldPairCorr
  0.83PHYQX Prudential High YieldPairCorr
  0.92SUVQX Prudential Qma StrategicPairCorr
  0.89PIBQX Prudential BalancedPairCorr
  1.0JSCRX Prudential Jennison SmallPairCorr
  0.76PIFEX Prudential Short TermPairCorr
  0.71PIFGX Prudential Short TermPairCorr
  0.84SDMQX Prudential Short DurationPairCorr
  0.89SDVRX Prudential Qma MidPairCorr
  0.87PJDQX Pgim Jennison RisingPairCorr
  0.86PJERX Prudential JennisonPairCorr
  0.81PJHRX Prudential HealthPairCorr
  0.86PJIQX Prudential JennisonPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWJQX  0.83  0.02  0.01  0.10  0.92 
(0.93)
 1.86 
(1.78)
 4.37 
PWJRX  0.83  0.02  0.01  0.10  0.93 
(0.93)
 1.83 
(1.78)
 4.39 
PWJBX  0.83  0.05 (0.03)(0.61) 0.96 
(0.94)
 1.86 
(1.78)
 4.39 
PWJDX  0.85  0.07 (0.01)(0.61) 0.96 
(0.95)
 1.85 
(1.77)
 4.37 
HYSQX  0.09  0.01 (0.46) 0.43  0.00 
(0.18)
 0.24 
(0.12)
 0.83 
EMDQX  0.22  0.07 (0.01) 0.62  0.00 
(0.32)
 0.60 
(0.39)
 1.18 
PFRIX  0.08  0.00 (0.52) 0.12  0.00 
(0.21)
 0.11 
(0.11)
 0.91 
PFSQX  1.02  0.02  0.04  0.10  1.14 
(1.12)
 1.95 
(1.88)
 14.31 
PGJQX  0.55  0.28  0.33  27.62  0.00 
(0.74)
 1.31 
(0.76)
 6.55 
PGIQX  0.14  0.02 (0.29)(0.91) 0.00 
(0.21)
 0.25 
(0.25)
 0.63 

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