Prudential Floating Correlations

FRFZX Fund

USD 8.97 0.01 0.11%

The current 90-days correlation between Prudential Floating Rate and Gabelli Dividend Income is -0.3 (i.e., Very 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

Good diversification

The correlation between Prudential Floating Rate and DJI is -0.08 (i.e., Good 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	EMDCX	Prudential Emerging	Pair Corr
0.86	EMDAX	Prudential Emerging	Pair Corr
0.77	PFSAX	Prudential Financial	Pair Corr
0.92	FRFAX	Prudential Floating Rate	Pair Corr
0.88	FRFCX	Prudential Floating Rate	Pair Corr
0.85	PGOAX	Prudential Jennison Small	Pair Corr
0.85	PGNAX	Jennison Natural Res	Pair Corr
0.8	PHLAX	Prudential Health	Pair Corr
0.88	PHYZX	Prudential High Yield	Pair Corr
0.76	SUVCX	Prudential Qma Strategic	Pair Corr
0.84	PJFZX	Prudential Jennison	Pair Corr
0.84	PJFCX	Prudential Jennison	Pair Corr
0.83	PJIAX	Prudential Jennison	Pair Corr
0.88	PJGZX	Prudential Jennison	Pair Corr
0.75	PJIZX	Prudential Qma Inter	Pair Corr
0.66	NCBVX	Prudential Qma Mid	Pair Corr
0.77	JDEZX	Prudential Jennison	Pair Corr
0.84	DNMZX	Prudential National Muni	Pair Corr
0.79	PRECX	Prudential Jennison Blend	Pair Corr
0.82	PRHCX	Prudential High Yield	Pair Corr
0.7	PRJAX	Prudential Jennison	Pair Corr
0.7	PRJCX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.42	PHLCX	Prudential Health	Pair Corr
0.38	PGFCX	Pgim Conservative	Pair Corr
0.33	PWJCX	Prudential Jennison	Pair Corr
0.31	PWJAX	Prudential Jennison	Pair Corr
0.57	PJEAX	Prudential Real Estate	Pair Corr
0.41	PJECX	Prudential Real Estate	Pair Corr
0.36	PIBAX	Prudential Balanced	Pair Corr
0.34	PJEZX	Prudential Real Estate	Pair Corr
0.47	PRJZX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	GDV	TFILX	PRTAX	SAIFX	SINAX	CSVIX	IDITX	CALRX	CLMAX	DREVX
GDV		-0.07	0.51	0.92	0.83	0.79	0.07	0.7	0.4	0.83	GDV
TFILX	-0.07		-0.01	-0.07	-0.16	-0.23	0.35	0.19	0.61	-0.13	TFILX
PRTAX	0.51	-0.01		0.5	0.58	0.36	-0.17	0.24	0.04	0.51	PRTAX
SAIFX	0.92	-0.07	0.5		0.91	0.8	0.0	0.74	0.39	0.9	SAIFX
SINAX	0.83	-0.16	0.58	0.91		0.82	-0.02	0.67	0.31	0.93	SINAX
CSVIX	0.79	-0.23	0.36	0.8	0.82		0.01	0.83	0.36	0.88	CSVIX
IDITX	0.07	0.35	-0.17	0.0	-0.02	0.01		0.21	0.64	-0.02	IDITX
CALRX	0.7	0.19	0.24	0.74	0.67	0.83	0.21		0.66	0.76	CALRX
CLMAX	0.4	0.61	0.04	0.39	0.31	0.36	0.64	0.66		0.34	CLMAX
DREVX	0.83	-0.13	0.51	0.9	0.93	0.88	-0.02	0.76	0.34		DREVX
	GDV	TFILX	PRTAX	SAIFX	SINAX	CSVIX	IDITX	CALRX	CLMAX	DREVX

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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

DREVX	+ 0.93	SINAX
SAIFX	+ 0.92	GDV
SINAX	+ 0.91	SAIFX
DREVX	+ 0.9	SAIFX
DREVX	+ 0.88	CSVIX
SINAX	+ 0.83	GDV

High negative correlations

CSVIX	- 0.23	TFILX
IDITX	- 0.17	PRTAX
SINAX	- 0.16	TFILX
DREVX	- 0.13	TFILX
SAIFX	- 0.07	TFILX
TFILX	- 0.07	GDV

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
GDV	0.56	0.10	0.04	0.68	0.52	(0.62)	1.10	(1.13)	2.92
TFILX	0.08	0.00	(0.40)	0.00	0.00	(0.14)	0.21	(0.11)	0.75
PRTAX	0.08	0.01	(0.53)	(1.02)	0.00	(0.15)	0.22	(0.11)	0.53
SAIFX	0.72	0.26	0.27	2.05	0.00	(0.85)	1.24	(0.97)	13.09
SINAX	0.73	0.21	0.28	0.36	0.00	(0.85)	1.23	(0.94)	13.09
CSVIX	0.98	0.15	0.23	0.20	0.43	(1.37)	1.99	(1.23)	16.43
IDITX	0.13	(0.01)	(0.40)	(0.10)	0.14	(0.17)	0.25	(0.25)	0.74
CALRX	1.02	0.25	0.19	8.08	0.57	(1.35)	1.95	(1.25)	16.42
CLMAX	0.14	0.01	(0.27)	0.24	0.00	(0.21)	0.36	(0.24)	1.06
DREVX	0.78	0.21	0.17	0.51	0.57	(0.87)	1.21	(1.41)	11.83

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