Prudential Core Correlations

TPCQX Fund

USD 8.64 0.02 0.23%

The current 90-days correlation between Prudential E Bond and Prudential Jennison International is 0.36 (i.e., Weak diversification). The correlation of Prudential Core 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 Core Correlation With Market

Average diversification

The correlation between Prudential E Bond and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential E Bond 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 E Bond. 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

0.78	EMDQX	Prudential Emerging	Pair Corr
0.72	PFSQX	Prudential Jennison	Pair Corr
0.61	PGJQX	Prudential Jennison	Pair Corr
1.0	PGIQX	Prudential Government	Pair Corr
0.95	PGTQX	Prudential Global Total	Pair Corr
0.93	PGTSX	Prudential Global Total	Pair Corr
0.94	PHIQX	Prudential Muni High	Pair Corr
0.68	PIBQX	Prudential Balanced	Pair Corr
0.68	JSCRX	Prudential Jennison Small	Pair Corr
0.61	PIFEX	Prudential Short Term	Pair Corr
0.73	SDVRX	Prudential Qma Mid	Pair Corr
0.63	PJDQX	Pgim Jennison Rising	Pair Corr
0.68	PJEQX	Prudential Real Estate	Pair Corr
0.8	PJERX	Prudential Jennison	Pair Corr
0.71	PJGQX	Prudential Jennison Mid	Pair Corr
0.7	PJSQX	Prudential Jennison Small	Pair Corr
0.64	JDERX	Prudential Jennison Mid	Pair Corr
0.99	JDRVX	Prudential Government	Pair Corr

Related Correlations Analysis

	PWJQX	PWJRX	PWJBX	PWJDX	HYSQX	EMDQX	PFRIX	PFSQX	PGJQX	PGIQX
PWJQX		1.0	1.0	1.0	0.88	0.78	0.67	0.23	0.07	0.55	PWJQX
PWJRX	1.0		1.0	1.0	0.88	0.79	0.66	0.24	0.08	0.56	PWJRX
PWJBX	1.0	1.0		1.0	0.88	0.79	0.67	0.24	0.08	0.56	PWJBX
PWJDX	1.0	1.0	1.0		0.88	0.79	0.67	0.23	0.08	0.55	PWJDX
HYSQX	0.88	0.88	0.88	0.88		0.66	0.86	0.06	-0.09	0.5	HYSQX
EMDQX	0.78	0.79	0.79	0.79	0.66		0.27	0.6	0.42	0.79	EMDQX
PFRIX	0.67	0.66	0.67	0.67	0.86	0.27		-0.42	-0.54	0.07	PFRIX
PFSQX	0.23	0.24	0.24	0.23	0.06	0.6	-0.42		0.92	0.72	PFSQX
PGJQX	0.07	0.08	0.08	0.08	-0.09	0.42	-0.54	0.92		0.61	PGJQX
PGIQX	0.55	0.56	0.56	0.55	0.5	0.79	0.07	0.72	0.61		PGIQX
	PWJQX	PWJRX	PWJBX	PWJDX	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

PWJRX	+ 1.0	PWJQX
PWJBX	+ 1.0	PWJQX
PWJDX	+ 1.0	PWJQX
PWJBX	+ 1.0	PWJRX
PWJDX	+ 1.0	PWJRX
PWJDX	+ 1.0	PWJBX

High negative correlations

PGJQX	- 0.54	PFRIX
PFSQX	- 0.42	PFRIX
PGJQX	- 0.09	HYSQX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Core 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 Core'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
PWJQX	0.72	0.10	0.09	0.26	0.92	(0.70)	1.53	(1.65)	4.22
PWJRX	0.72	0.10	0.08	0.25	0.92	(0.71)	1.54	(1.66)	4.21
PWJBX	0.72	0.10	0.09	0.25	0.92	(0.71)	1.54	(1.66)	4.24
PWJDX	0.72	0.10	0.09	0.26	0.92	(0.69)	1.55	(1.67)	4.20
HYSQX	0.13	0.01	0.04	0.36	0.00	(0.23)	0.48	(0.24)	1.08
EMDQX	0.30	0.00	0.00	0.01	0.30	(0.47)	0.67	(0.67)	1.79
PFRIX	0.09	0.02	0.15	(0.58)	0.00	(0.27)	0.22	(0.11)	0.88
PFSQX	0.75	(0.05)	0.00	(0.07)	0.00	0.00	1.48	(1.82)	6.48
PGJQX	0.69	(0.05)	0.00	(0.12)	0.00	0.00	1.32	(1.57)	4.99
PGIQX	0.25	(0.01)	(0.02)	(0.05)	0.26	(0.32)	0.65	(0.51)	1.43

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