Prudential Utility Correlations

PRUZX Fund

USD 15.31 0.22 1.46%

The current 90-days correlation between Prudential Utility and Prudential Utility Fund is 0.95 (i.e., Almost no 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

Modest diversification

The correlation between Prudential Utility Fund and DJI is 0.24 (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.

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

0.86	PGJAX	Prudential Jennison	Pair Corr
0.65	PGJCX	Prudential Jennison	Pair Corr
0.86	PGJZX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.48	PGFCX	Pgim Conservative	Pair Corr
0.43	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.43	PHICX	Prudential Muni High	Pair Corr
0.38	FRFCX	Prudential Floating Rate	Pair Corr
0.35	FRFAX	Prudential Floating Rate	Pair Corr
0.77	PHLCX	Prudential Health	Pair Corr
0.75	PJDAX	Prudential Jennison	Pair Corr
0.67	PIBAX	Prudential Balanced	Pair Corr
0.43	PHIZX	Prudential Muni High	Pair Corr

Related Correlations Analysis

	PRUAX	RRTAX	AAGPX	MDLRX	PJGQX	SICWX	AFDIX	SCSCX	LZIOX	MRGAX
PRUAX		0.54	0.28	0.21	0.42	0.25	0.51	0.33	0.16	0.52	PRUAX
RRTAX	0.54		0.78	0.81	0.65	0.88	0.84	0.81	0.71	0.86	RRTAX
AAGPX	0.28	0.78		0.9	0.82	0.85	0.75	0.92	0.76	0.79	AAGPX
MDLRX	0.21	0.81	0.9		0.72	0.85	0.8	0.94	0.73	0.83	MDLRX
PJGQX	0.42	0.65	0.82	0.72		0.68	0.7	0.8	0.67	0.74	PJGQX
SICWX	0.25	0.88	0.85	0.85	0.68		0.69	0.88	0.69	0.73	SICWX
AFDIX	0.51	0.84	0.75	0.8	0.7	0.69		0.76	0.71	1.0	AFDIX
SCSCX	0.33	0.81	0.92	0.94	0.8	0.88	0.76		0.74	0.81	SCSCX
LZIOX	0.16	0.71	0.76	0.73	0.67	0.69	0.71	0.74		0.73	LZIOX
MRGAX	0.52	0.86	0.79	0.83	0.74	0.73	1.0	0.81	0.73		MRGAX
	PRUAX	RRTAX	AAGPX	MDLRX	PJGQX	SICWX	AFDIX	SCSCX	LZIOX	MRGAX

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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
PRUAX	0.79	0.05	0.02	0.16	0.74	(0.95)	1.42	(1.24)	9.36
RRTAX	0.30	0.06	(0.01)	1.27	0.14	(0.37)	0.60	(0.53)	3.34
AAGPX	0.58	(0.01)	(0.03)	0.06	0.66	(0.64)	1.20	(1.01)	2.95
MDLRX	0.67	0.07	0.06	0.16	0.85	(0.70)	1.48	(1.15)	5.20
PJGQX	0.83	(0.02)	0.00	0.06	0.98	(0.89)	1.29	(1.65)	10.30
SICWX	0.59	0.05	(0.01)	0.44	0.78	(0.60)	1.29	(1.43)	3.08
AFDIX	1.14	0.47	0.42	1.85	0.08	(1.30)	1.51	(1.18)	30.26
SCSCX	0.59	0.00	(0.02)	0.07	0.79	(0.61)	1.39	(1.44)	3.10
LZIOX	0.86	0.03	0.00	0.11	1.90	(0.89)	1.16	(1.24)	21.65
MRGAX	0.83	0.22	0.20	0.45	0.55	(0.95)	1.24	(1.39)	15.65

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