Prudential Plc Correlations

PRU Stock

EUR 13.40 0.10 0.74%

The current 90-days correlation between Prudential plc and AIR PRODCHEMICALS is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Prudential Plc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Prudential plc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Prudential Plc Correlation With Market

Significant diversification

The correlation between Prudential plc and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Prudential Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Prudential Plc when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Prudential Plc - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Prudential plc to buy it.

Moving together with Prudential Stock

0.81	SSU	Samsung Electronics	Pair Corr
0.78	SSUN	Samsung Electronics	Pair Corr
0.77	SSUN	Samsung Electronics	Pair Corr
0.8	SSU	Samsung Electronics	Pair Corr

Moving against Prudential Stock

0.67	MSF	Microsoft	Pair Corr
0.67	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.4	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	1X8	XCA	UEO	PWT	AP3	LA5	H0O	SGJH
1X8		-0.62	-0.18	-0.37	0.4	-0.12	-0.3	0.18	1X8
XCA	-0.62		0.46	0.44	-0.27	0.52	0.27	-0.05	XCA
UEO	-0.18	0.46		-0.3	0.06	0.68	0.5	0.11	UEO
PWT	-0.37	0.44	-0.3		-0.26	0.07	-0.16	-0.24	PWT
AP3	0.4	-0.27	0.06	-0.26		-0.2	-0.03	0.32	AP3
LA5	-0.12	0.52	0.68	0.07	-0.2		0.42	0.15	LA5
H0O	-0.3	0.27	0.5	-0.16	-0.03	0.42		0.21	H0O
SGJH	0.18	-0.05	0.11	-0.24	0.32	0.15	0.21		SGJH
	1X8	XCA	UEO	PWT	AP3	LA5	H0O	SGJH

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

LA5	+ 0.68	UEO
LA5	+ 0.52	XCA
H0O	+ 0.5	UEO
UEO	+ 0.46	XCA
PWT	+ 0.44	XCA
H0O	+ 0.42	LA5

High negative correlations

XCA	- 0.62	1X8
PWT	- 0.37	1X8
PWT	- 0.3	UEO
H0O	- 0.3	1X8
AP3	- 0.27	XCA
AP3	- 0.26	PWT

Risk-Adjusted Indicators

There is a big difference between Prudential Stock performing well and Prudential Plc Company 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 Plc'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
1X8	1.55	1.08	0.00	17.58	0.00	0.00	3.92	(2.35)	5.94
XCA	0.79	0.05	(0.02)	3.81	1.55	(0.70)	1.81	(2.24)	6.72
UEO	2.19	0.03	0.00	0.15	2.47	(2.86)	4.55	(3.91)	11.77
PWT	1.14	0.09	0.01	0.42	1.25	(1.57)	2.66	(1.89)	7.09
AP3	0.99	(0.08)	0.00	(0.06)	0.00	0.00	1.83	(2.33)	16.39
LA5	2.14	0.15	0.04	0.38	2.29	(2.91)	4.59	(4.46)	15.89
H0O	2.33	0.14	0.01	1.17	4.16	(2.36)	8.92	(9.42)	24.57
SGJH	1.66	0.21	0.02	0.59	2.10	(7.08)	7.14	(6.67)	13.81

Be your own money manager

Our tools can tell you how much better you can do entering a position in Prudential Plc without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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