Prudential Emerging Correlations

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The current 90-days correlation between Prudential Emerging and Goldman Sachs Mlp is 0.19 (i.e., Average 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

Weak diversification

The correlation between Prudential Emerging Markets and DJI is 0.35 (i.e., 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 main economic indicators.

Moving together with Prudential Mutual Fund

0.82	PFSQX	Prudential Jennison	Pair Corr
0.66	SCFQX	Pgim Securitized Credit	Pair Corr
0.63	SCFOX	Pgim Securitized Credit	Pair Corr
0.63	SCFZX	Pgim Securitized Credit	Pair Corr
0.63	SCFVX	Pgim Securitized Credit	Pair Corr
0.9	PHYGX	Pgim High Yield	Pair Corr
0.67	SUVQX	Prudential Qma Strategic	Pair Corr
0.66	JSCRX	Prudential Jennison Small	Pair Corr
0.72	PJDQX	Pgim Jennison Rising	Pair Corr
0.71	PJFPX	Prudential Jennison	Pair Corr
0.71	PJFQX	Prudential Jennison	Pair Corr
0.71	PJFOX	Prudential Jennison	Pair Corr
0.84	PJERX	Prudential Jennison	Pair Corr
0.86	PJHRX	Prudential Health	Pair Corr
0.7	PJIQX	Prudential Jennison	Pair Corr
0.66	PJORX	Prudential Jennison	Pair Corr
0.77	PJOQX	Prudential Jennison	Pair Corr
0.76	PJNQX	Jennison Natural Res	Pair Corr
0.67	PJSQX	Prudential Jennison Small	Pair Corr
0.69	PJRQX	Prudential Qma Intl	Pair Corr

Moving against Prudential Mutual Fund

0.47	PIBQX	Prudential Balanced	Pair Corr
0.44	PHEQX	Prudential Global Total	Pair Corr
0.31	PJEQX	Prudential Real Estate	Pair Corr

Related Correlations Analysis

	GLPIX	ENPSX	ICBAX	PEO	HNRGX	IEFCX
GLPIX		0.49	0.69	0.88	0.92	0.67	GLPIX
ENPSX	0.49		0.3	0.7	0.66	0.95	ENPSX
ICBAX	0.69	0.3		0.72	0.64	0.35	ICBAX
PEO	0.88	0.7	0.72		0.93	0.79	PEO
HNRGX	0.92	0.66	0.64	0.93		0.78	HNRGX
IEFCX	0.67	0.95	0.35	0.79	0.78		IEFCX
	GLPIX	ENPSX	ICBAX	PEO	HNRGX	IEFCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GLPIX	0.51	0.03	(0.04)	0.21	0.62	(0.55)	1.11	(1.49)	3.01
ENPSX	1.44	0.15	0.06	0.44	1.63	(1.59)	3.08	(2.25)	7.98
ICBAX	1.35	0.15	0.14	0.18	1.14	(1.61)	3.34	(1.94)	11.98
PEO	0.82	0.04	0.00	0.16	0.92	(0.84)	1.69	(1.55)	4.75
HNRGX	0.98	0.02	0.00	0.11	1.25	(0.96)	2.11	(1.62)	5.72
IEFCX	0.86	0.10	0.03	0.50	0.96	(0.91)	1.76	(1.35)	4.81

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