Prudential Utility Correlations

PRUAX Fund

USD 15.20 0.21 1.40%

The current 90-days correlation between Prudential Utility and Prudential Jennison Mid Cap is 0.14 (i.e., Average diversification). The correlation of Prudential Utility 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 Utility Correlation With Market

Poor diversification

The correlation between Prudential Utility Fund and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Utility Fund 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 Utility Fund. 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 nation.

Moving together with Prudential Mutual Fund

0.62	HYSZX	Prudential Short Duration	Pair Corr
0.63	HYSAX	Prudential Short Duration	Pair Corr
0.66	HYSCX	Prudential Short Duration	Pair Corr
0.66	EMDCX	Prudential Emerging	Pair Corr
0.64	EMDAX	Prudential Emerging	Pair Corr
0.66	EMDZX	Prudential Emerging	Pair Corr
0.72	PFSZX	Prudential Financial	Pair Corr
0.78	PFSAX	Prudential Financial	Pair Corr
0.92	PGJAX	Prudential Jennison	Pair Corr
0.87	PGJCX	Prudential Jennison	Pair Corr
0.87	PGJZX	Prudential Jennison	Pair Corr
0.75	PGKZX	Pgim Jennison Technology	Pair Corr
0.62	PGOAX	Prudential Jennison Small	Pair Corr
0.65	PGNAX	Jennison Natural Res	Pair Corr
0.61	PHICX	Prudential Muni High	Pair Corr
0.79	PHLAX	Prudential Health	Pair Corr
0.72	PHSZX	Prudential Health	Pair Corr
0.61	PHYZX	Prudential High Yield	Pair Corr
0.63	PHYEX	Pgim High Yield	Pair Corr
0.85	PIBAX	Prudential Balanced	Pair Corr
0.69	SUVCX	Prudential Qma Strategic	Pair Corr
0.73	SUVAX	Prudential Qma Strategic	Pair Corr
0.61	PIFCX	Prudential Short Term	Pair Corr
0.69	SUVZX	Prudential Qma Strategic	Pair Corr

Moving against Prudential Mutual Fund

0.87	PHLCX	Prudential Health	Pair Corr
0.78	PJDAX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	PRUZX	RRTAX	AAGPX	MRGAX	MDLRX	SCSCX	SICWX	AFDIX	LZIOX	PJGQX
PRUZX		0.85	0.65	0.8	0.61	0.65	0.68	0.75	0.58	0.65	PRUZX
RRTAX	0.85		0.92	0.94	0.89	0.88	0.92	0.91	0.83	0.85	RRTAX
AAGPX	0.65	0.92		0.87	0.92	0.89	0.94	0.86	0.86	0.91	AAGPX
MRGAX	0.8	0.94	0.87		0.9	0.88	0.87	0.97	0.84	0.84	MRGAX
MDLRX	0.61	0.89	0.92	0.9		0.95	0.92	0.89	0.81	0.88	MDLRX
SCSCX	0.65	0.88	0.89	0.88	0.95		0.94	0.84	0.79	0.88	SCSCX
SICWX	0.68	0.92	0.94	0.87	0.92	0.94		0.84	0.83	0.91	SICWX
AFDIX	0.75	0.91	0.86	0.97	0.89	0.84	0.84		0.83	0.84	AFDIX
LZIOX	0.58	0.83	0.86	0.84	0.81	0.79	0.83	0.83		0.81	LZIOX
PJGQX	0.65	0.85	0.91	0.84	0.88	0.88	0.91	0.84	0.81		PJGQX
	PRUZX	RRTAX	AAGPX	MRGAX	MDLRX	SCSCX	SICWX	AFDIX	LZIOX	PJGQX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Utility 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 Utility'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
PRUZX	0.83	0.06	0.02	0.20	0.95	(0.90)	1.46	(1.60)	11.08
RRTAX	0.29	0.06	0.04	0.23	0.00	(0.35)	0.60	(0.53)	3.84
AAGPX	0.57	0.01	0.00	0.08	0.60	(0.65)	1.29	(1.01)	3.62
MRGAX	0.80	0.28	0.23	(2.26)	0.49	(0.94)	1.20	(1.39)	16.85
MDLRX	0.63	0.12	0.08	0.56	0.70	(0.66)	1.28	(1.15)	5.93
SCSCX	0.58	0.06	0.00	0.66	0.73	(0.57)	1.28	(1.44)	3.50
SICWX	0.56	0.03	0.02	0.11	0.72	(0.55)	1.28	(1.43)	3.51
AFDIX	1.05	0.47	0.44	2.26	0.00	(1.15)	1.25	(1.18)	31.25
LZIOX	0.84	0.12	0.04	0.26	1.85	(0.86)	1.26	(1.24)	21.65
PJGQX	0.80	0.00	0.01	0.07	0.90	(0.85)	1.29	(1.65)	10.50

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