Prudential Emerging Correlations

Mutual Funds . USA . 
Fund . Prudential Emerging Markets
EMDAX Fund  USD 4.85  0.02  0.41%   
The current 90-days correlation between Prudential Emerging and Lebenthal Lisanti Small is 0.31 (i.e., Weak diversification). The correlation of Prudential Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Prudential Emerging Markets and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Prudential Emerging Markets. 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

  0.73PWJZX Prudential JennisonPairCorr
  0.72PWJAX Prudential JennisonPairCorr
  0.7PWJCX Prudential JennisonPairCorr
  0.94HYSZX Prudential Short DurationPairCorr
  0.94HYSAX Prudential Short DurationPairCorr
  0.94HYSCX Prudential Short DurationPairCorr
  0.99EMDCX Prudential EmergingPairCorr
  0.99EMDZX Prudential EmergingPairCorr
  0.83PFSZX Prudential FinancialPairCorr
  0.83PFSAX Prudential FinancialPairCorr
  0.93PGFCX Pgim ConservativePairCorr
  0.93PGFEX Pgim Enhanced RetirementPairCorr
  0.88PGJAX Prudential JennisonPairCorr
  0.88PGJCX Prudential JennisonPairCorr
  0.89PGJZX Prudential JennisonPairCorr
  0.91FRFZX Prudential Floating RatePairCorr
  0.9FRFAX Prudential Floating RatePairCorr
  0.9FRFCX Prudential Floating RatePairCorr
  0.86PGKZX Pgim Jennison TechnologyPairCorr
  0.81PGOAX Prudential Jennison SmallPairCorr
  0.79PGNAX Jennison Natural ResPairCorr
  0.89PGTOX Prudential Global TotalPairCorr
  0.85PGVZX Prudential GovernmentPairCorr
  0.84PGVAX Prudential GovernmentPairCorr
  0.88PHECX Prudential Global TotalPairCorr
  0.88PHEAX Prudential Global TotalPairCorr
  0.89PHEZX Prudential Global TotalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Emerging 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 Emerging'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.

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