Prudential Jennison Correlations

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The current 90-days correlation between Prudential Jennison and Calvert Developed Market is 0.4 (i.e., Very weak 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

Significant diversification

The correlation between Prudential Jennison Servative and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Servative and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Prudential Jennison Servative. 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

0.65	EMDCX	Prudential Emerging	Pair Corr
0.71	EMDAX	Prudential Emerging	Pair Corr
0.72	EMDZX	Prudential Emerging	Pair Corr
0.84	PFSZX	Prudential Financial	Pair Corr
0.85	PFSAX	Prudential Financial	Pair Corr
0.81	PGFCX	Pgim Conservative	Pair Corr
0.77	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.8	PGJAX	Prudential Jennison	Pair Corr
0.8	PGJCX	Prudential Jennison	Pair Corr
0.8	PGJZX	Prudential Jennison	Pair Corr
0.74	PGOAX	Prudential Jennison Small	Pair Corr
0.8	PGTOX	Prudential Global Total	Pair Corr
0.74	PGVZX	Prudential Government	Pair Corr
0.75	PGVAX	Prudential Government	Pair Corr
0.72	PHECX	Prudential Global Total	Pair Corr
0.67	PHEAX	Prudential Global Total	Pair Corr
0.84	TGMBX	Prudential Porate Bond	Pair Corr
0.66	PHEZX	Prudential Global Total	Pair Corr
0.77	PHICX	Prudential Muni High	Pair Corr
0.73	PHIZX	Prudential Muni High	Pair Corr
0.87	PHLAX	Prudential Health	Pair Corr

Moving against Prudential Mutual Fund

0.42	FRFAX	Prudential Floating Rate	Pair Corr
0.41	FRFZX	Prudential Floating Rate	Pair Corr
0.39	FRFCX	Prudential Floating Rate	Pair Corr
0.31	PGIKX	Pgim Esg Short	Pair Corr
0.37	SDMZX	Prudential Short Duration	Pair Corr
0.36	SDMAX	Prudential Short Duration	Pair Corr

Related Correlations Analysis

	CDHIX	IGIEX	FEMDX	IHIAX	SEDAX	CIABX	LOTCX	QMNNX
CDHIX		0.66	0.42	0.62	0.86	0.4	-0.3	-0.3	CDHIX
IGIEX	0.66		0.52	0.8	0.77	0.63	0.01	-0.17	IGIEX
FEMDX	0.42	0.52		0.86	0.67	0.76	0.48	0.6	FEMDX
IHIAX	0.62	0.8	0.86		0.78	0.74	0.3	0.27	IHIAX
SEDAX	0.86	0.77	0.67	0.78		0.63	-0.13	-0.04	SEDAX
CIABX	0.4	0.63	0.76	0.74	0.63		0.16	0.26	CIABX
LOTCX	-0.3	0.01	0.48	0.3	-0.13	0.16		0.77	LOTCX
QMNNX	-0.3	-0.17	0.6	0.27	-0.04	0.26	0.77		QMNNX
	CDHIX	IGIEX	FEMDX	IHIAX	SEDAX	CIABX	LOTCX	QMNNX

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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

SEDAX	+ 0.86	CDHIX
IHIAX	+ 0.86	FEMDX
IHIAX	+ 0.8	IGIEX
SEDAX	+ 0.78	IHIAX
SEDAX	+ 0.77	IGIEX
QMNNX	+ 0.77	LOTCX

High negative correlations

QMNNX	- 0.3	CDHIX
LOTCX	- 0.3	CDHIX
QMNNX	- 0.17	IGIEX
LOTCX	- 0.13	SEDAX
QMNNX	- 0.04	SEDAX

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
CDHIX	0.55	0.00	(0.11)	0.03	0.76	(0.56)	1.20	(1.11)	3.77
IGIEX	0.25	0.00	(0.21)	0.10	0.28	(0.31)	0.60	(0.49)	2.17
FEMDX	0.17	0.02	(0.27)	0.53	0.00	(0.22)	0.35	(0.35)	1.29
IHIAX	0.19	0.01	(0.26)	0.31	0.12	(0.25)	0.39	(0.39)	1.55
SEDAX	0.26	0.00	(0.22)	0.15	0.25	(0.33)	0.60	(0.47)	2.16
CIABX	0.08	0.00	(0.28)	(0.02)	0.07	(0.23)	0.20	(0.20)	1.00
LOTCX	0.52	0.05	(0.06)	(0.50)	0.66	(0.57)	0.79	(1.28)	3.77
QMNNX	0.36	0.13	0.10	8.06	0.00	(0.47)	0.76	(0.52)	2.31

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