Prudential Floating Correlations

FRFAX Fund

USD 8.94 0.00 0.00%

The current 90-days correlation between Prudential Floating Rate and Jhancock Disciplined Value is -0.14 (i.e., Good diversification). The correlation of Prudential Floating 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 Floating Correlation With Market

Average diversification

The correlation between Prudential Floating Rate and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Floating Rate 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 Floating Rate. 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

0.84	HYSZX	Prudential Short Duration	Pair Corr
0.83	HYSAX	Prudential Short Duration	Pair Corr
0.82	HYSCX	Prudential Short Duration	Pair Corr
0.66	EMDCX	Prudential Emerging	Pair Corr
0.72	EMDAX	Prudential Emerging	Pair Corr
0.72	EMDZX	Prudential Emerging	Pair Corr
0.9	FRFZX	Prudential Floating Rate	Pair Corr
0.93	FRFCX	Prudential Floating Rate	Pair Corr
0.64	PGOAX	Prudential Jennison Small	Pair Corr
0.68	PGNAX	Jennison Natural Res	Pair Corr
0.74	PHYZX	Prudential High Yield	Pair Corr
0.78	PHYEX	Pgim High Yield	Pair Corr

Moving against Prudential Mutual Fund

0.49	PWJAX	Prudential Jennison	Pair Corr
0.48	PWJCX	Prudential Jennison	Pair Corr
0.47	PWJZX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	JDVNX	FLRAX	WILCX	DLQIX	PTEZX	ALCEX	FCLKX	CBLSX
JDVNX		0.88	0.95	0.89	0.87	0.84	0.85	0.9	JDVNX
FLRAX	0.88		0.94	0.92	0.93	0.83	0.89	0.91	FLRAX
WILCX	0.95	0.94		0.9	0.92	0.87	0.89	0.91	WILCX
DLQIX	0.89	0.92	0.9		0.88	0.75	0.76	0.98	DLQIX
PTEZX	0.87	0.93	0.92	0.88		0.86	0.84	0.9	PTEZX
ALCEX	0.84	0.83	0.87	0.75	0.86		0.87	0.81	ALCEX
FCLKX	0.85	0.89	0.89	0.76	0.84	0.87		0.76	FCLKX
CBLSX	0.9	0.91	0.91	0.98	0.9	0.81	0.76		CBLSX
	JDVNX	FLRAX	WILCX	DLQIX	PTEZX	ALCEX	FCLKX	CBLSX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Floating 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 Floating'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
JDVNX	0.68	0.09	0.10	0.15	0.61	(0.79)	1.47	(1.28)	7.51
FLRAX	0.67	0.18	0.11	5.12	0.72	(0.68)	1.43	(1.38)	8.00
WILCX	0.47	0.13	0.14	0.73	0.24	(0.57)	0.87	(0.67)	3.59
DLQIX	0.87	0.33	0.32	0.67	0.35	(1.05)	1.47	(1.30)	19.46
PTEZX	0.71	0.20	0.18	0.34	0.58	(0.81)	1.50	(1.19)	11.37
ALCEX	0.65	0.07	0.07	0.13	0.75	(0.69)	1.62	(1.34)	3.48
FCLKX	0.59	0.10	0.05	0.61	0.72	(0.59)	1.35	(1.32)	3.44
CBLSX	0.77	0.19	0.21	0.36	0.40	(0.98)	1.41	(1.00)	14.02

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