Prudential Jennison Correlations

PWJQX Fund

USD 30.63 0.01 0.03%

The current 90-days correlation between Prudential Jennison and Artisan Thematic Fund is 0.7 (i.e., Poor 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

Good diversification

The correlation between Prudential Jennison Internatio and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Internatio 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 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 producer price index.

Moving together with Prudential Mutual Fund

0.87	PWJRX	Prudential Jennison	Pair Corr
1.0	PWJBX	Pgim Jennison Intern	Pair Corr
0.87	PWJDX	Pgim Jennison Intern	Pair Corr
0.67	PJERX	Prudential Jennison	Pair Corr
0.66	PJIQX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.53	PFRIX	Prudential Floating Rate	Pair Corr
0.52	SCFOX	Pgim Securitized Credit	Pair Corr
0.52	SCFZX	Pgim Securitized Credit	Pair Corr
0.49	SCFQX	Pgim Securitized Credit	Pair Corr
0.47	SCFVX	Pgim Securitized Credit	Pair Corr
0.45	PFSQX	Prudential Jennison	Pair Corr
0.31	HYSQX	Prudential Short Duration	Pair Corr

Related Correlations Analysis

	APDTX	WMCVX	TRHBX	PRNHX	NQQQX	LIOTX
APDTX		0.74	0.76	0.77	0.94	0.87	APDTX
WMCVX	0.74		0.98	0.95	0.81	0.7	WMCVX
TRHBX	0.76	0.98		0.97	0.84	0.77	TRHBX
PRNHX	0.77	0.95	0.97		0.86	0.8	PRNHX
NQQQX	0.94	0.81	0.84	0.86		0.91	NQQQX
LIOTX	0.87	0.7	0.77	0.8	0.91		LIOTX
	APDTX	WMCVX	TRHBX	PRNHX	NQQQX	LIOTX

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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
APDTX	0.77	0.12	0.03	2.69	1.02	(0.77)	1.73	(1.27)	5.07
WMCVX	0.91	(0.01)	0.03	0.08	0.86	(1.04)	2.24	(1.49)	7.94
TRHBX	0.93	0.00	0.04	0.08	0.93	(1.03)	2.11	(1.63)	7.62
PRNHX	0.77	0.03	0.03	0.11	1.03	(0.77)	1.50	(1.29)	6.84
NQQQX	0.82	0.08	(0.01)	(0.52)	1.18	(0.79)	1.55	(2.40)	5.13
LIOTX	0.63	0.08	0.01	1.42	0.74	(0.73)	1.23	(1.28)	3.97

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