Prudential Jennison Correlations

PSCZX Fund

USD 27.20 0.02 0.07%

The current 90-days correlation between Prudential Jennison Small and Delaware Limited Term Diversified is -0.05 (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

Very poor diversification

The correlation between Prudential Jennison Small and DJI is 0.89 (i.e., Very poor 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 nation.

Moving together with Prudential Mutual Fund

0.96	PFSZX	Prudential Financial	Pair Corr
0.96	PFSAX	Prudential Financial	Pair Corr
0.64	PGJCX	Prudential Jennison	Pair Corr
0.66	PGJZX	Prudential Jennison	Pair Corr
0.8	FRFZX	Prudential Floating Rate	Pair Corr
0.8	FRFAX	Prudential Floating Rate	Pair Corr
1.0	PGOAX	Prudential Jennison Small	Pair Corr
0.84	PJDAX	Prudential Jennison	Pair Corr
0.93	PJFZX	Prudential Jennison	Pair Corr
0.93	PJFAX	Prudential Jennison	Pair Corr
0.97	PJIAX	Prudential Jennison	Pair Corr
0.97	PJGZX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.58	EMDCX	Prudential Emerging	Pair Corr
0.57	EMDAX	Prudential Emerging	Pair Corr
0.56	EMDZX	Prudential Emerging	Pair Corr
0.41	PWJCX	Prudential Jennison	Pair Corr
0.35	PWJAX	Prudential Jennison	Pair Corr
0.34	PWJZX	Prudential Jennison	Pair Corr
0.76	PZTRX	Prudential Global Total	Pair Corr
0.72	PGVAX	Prudential Government	Pair Corr
0.71	PGVZX	Prudential Government	Pair Corr
0.61	PHLAX	Prudential Health	Pair Corr
0.61	PHLCX	Prudential Health	Pair Corr
0.6	PHSZX	Prudential Health	Pair Corr
0.53	PHECX	Prudential Global Total	Pair Corr
0.34	PIFZX	Prudential Short Term	Pair Corr

Related Correlations Analysis

	DTICX	GABSX	LIGFX	PASVX	VSTCX	WMCVX	TSMUX
DTICX		0.16	0.17	-0.24	-0.26	-0.17	-0.23	DTICX
GABSX	0.16		0.71	0.46	0.46	0.53	0.44	GABSX
LIGFX	0.17	0.71		0.85	0.85	0.88	0.86	LIGFX
PASVX	-0.24	0.46	0.85		1.0	0.98	0.99	PASVX
VSTCX	-0.26	0.46	0.85	1.0		0.98	0.99	VSTCX
WMCVX	-0.17	0.53	0.88	0.98	0.98		0.97	WMCVX
TSMUX	-0.23	0.44	0.86	0.99	0.99	0.97		TSMUX
	DTICX	GABSX	LIGFX	PASVX	VSTCX	WMCVX	TSMUX

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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

VSTCX	+ 1.0	PASVX
TSMUX	+ 0.99	PASVX
TSMUX	+ 0.99	VSTCX
WMCVX	+ 0.98	PASVX
WMCVX	+ 0.98	VSTCX
TSMUX	+ 0.97	WMCVX

High negative correlations

VSTCX	- 0.26	DTICX
PASVX	- 0.24	DTICX
TSMUX	- 0.23	DTICX
WMCVX	- 0.17	DTICX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DTICX	0.08	0.00	(0.75)	(0.21)	0.00	(0.15)	0.13	(0.13)	0.64
GABSX	0.84	(0.13)	(0.05)	0.03	1.44	(0.81)	1.68	(1.35)	8.80
LIGFX	0.25	(0.01)	(0.31)	0.08	0.21	(0.28)	0.55	(0.50)	1.23
PASVX	0.76	(0.02)	0.02	0.11	0.71	(0.81)	1.74	(1.22)	6.47
VSTCX	0.87	(0.02)	0.04	0.11	0.85	(0.95)	1.81	(1.52)	6.89
WMCVX	0.91	(0.06)	0.00	0.08	0.88	(1.01)	1.99	(1.49)	7.94
TSMUX	0.77	0.03	0.06	0.14	0.75	(0.87)	1.73	(1.39)	5.63

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