Pgim Jennison Correlations

PWJBX Fund

USD 30.17 0.17 0.57%

The current 90-days correlation between Pgim Jennison Intern and Prudential Short Duration is 0.06 (i.e., Significant diversification). The correlation of Pgim 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.

Pgim Jennison Correlation With Market

Very weak diversification

The correlation between Pgim Jennison International and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Jennison International 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 Pgim Jennison International. 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 bureau of labor statistics.

Moving together with Pgim Mutual Fund

1.0	PWJQX	Prudential Jennison	Pair Corr
1.0	PWJRX	Prudential Jennison	Pair Corr
1.0	PWJDX	Pgim Jennison Intern	Pair Corr
0.63	EMDQX	Prudential Emerging	Pair Corr
0.81	PJERX	Prudential Jennison	Pair Corr
0.81	PJIQX	Prudential Jennison	Pair Corr

Moving against Pgim Mutual Fund

0.56	PFRIX	Prudential Floating Rate	Pair Corr
0.55	SCFQX	Pgim Securitized Credit	Pair Corr
0.55	SCFOX	Pgim Securitized Credit	Pair Corr
0.55	SCFZX	Pgim Securitized Credit	Pair Corr
0.53	SCFVX	Pgim Securitized Credit	Pair Corr
0.51	PFSQX	Prudential Jennison	Pair Corr
0.34	PJGQX	Prudential Jennison Mid	Pair Corr
0.33	JSCRX	Prudential Jennison Small	Pair Corr
0.33	PJSQX	Prudential Jennison Small	Pair Corr
0.32	PJOQX	Prudential Jennison	Pair Corr
0.31	PJORX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	PWJBX	HYSQX	EMDQX	PFRIX	PFSQX	PGJQX	PGIQX
PWJBX		-0.27	0.63	-0.56	-0.51	-0.15	0.41	PWJBX
HYSQX	-0.27		0.03	0.73	0.56	0.79	-0.22	HYSQX
EMDQX	0.63	0.03		-0.62	-0.69	0.0	0.87	EMDQX
PFRIX	-0.56	0.73	-0.62		0.89	0.64	-0.79	PFRIX
PFSQX	-0.51	0.56	-0.69	0.89		0.59	-0.82	PFSQX
PGJQX	-0.15	0.79	0.0	0.64	0.59		-0.27	PGJQX
PGIQX	0.41	-0.22	0.87	-0.79	-0.82	-0.27		PGIQX
	PWJBX	HYSQX	EMDQX	PFRIX	PFSQX	PGJQX	PGIQX

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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

PFSQX	+ 0.89	PFRIX
PGIQX	+ 0.87	EMDQX
PGJQX	+ 0.79	HYSQX
PFRIX	+ 0.73	HYSQX
PGJQX	+ 0.64	PFRIX
EMDQX	+ 0.63	PWJBX

High negative correlations

PGIQX	- 0.82	PFSQX
PGIQX	- 0.79	PFRIX
PFSQX	- 0.69	EMDQX
PFRIX	- 0.62	EMDQX
PFRIX	- 0.56	PWJBX
PFSQX	- 0.51	PWJBX

Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim 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 Pgim 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
PWJBX	0.79	(0.17)	0.00	(0.10)	0.00	0.00	1.56	(1.72)	5.54
HYSQX	0.11	0.00	(0.67)	0.22	0.00	(0.16)	0.24	(0.24)	0.60
EMDQX	0.36	(0.05)	0.00	(0.83)	0.00	0.00	0.66	(0.65)	1.95
PFRIX	0.08	0.03	0.00	2.31	0.00	0.00	0.11	(0.11)	0.90
PFSQX	0.80	0.06	0.13	0.16	0.50	(0.99)	1.58	(1.42)	8.34
PGJQX	0.53	0.08	(0.01)	0.42	0.46	(0.61)	1.10	(1.04)	2.57
PGIQX	0.23	(0.03)	0.00	0.47	0.00	0.00	0.50	(0.64)	1.41

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