| PRUAX Fund | | | USD 17.56 0.03 0.17% |
The current 90-days correlation between Prudential Utility and Utilities Portfolio Utilities is 0.99 (i.e., No risk reduction). 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
Modest diversification
The correlation between Prudential Utility Fund and DJI is 0.21 (i.e., Modest 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.
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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.