Prudential Floating Correlations

Mutual Funds . USA . 
Fund . Prudential Floating Rate
FRFZX Fund  USD 9.08  0.01  0.11%   
The current 90-days correlation between Prudential Floating Rate and Prudential Total Return is 0.25 (i.e., Modest 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

  0.62PWJZX Prudential JennisonPairCorr
  0.62PWJAX Prudential JennisonPairCorr
  0.97HYSZX Prudential Short DurationPairCorr
  0.97HYSAX Prudential Short DurationPairCorr
  0.97HYSCX Prudential Short DurationPairCorr
  0.92EMDCX Prudential EmergingPairCorr
  0.92EMDAX Prudential EmergingPairCorr
  0.92EMDZX Prudential EmergingPairCorr
  0.86PFSZX Prudential FinancialPairCorr
  0.85PFSAX Prudential FinancialPairCorr
  0.95PGFCX Pgim ConservativePairCorr
  0.93PGFEX Pgim Enhanced RetirementPairCorr
  0.87PGJAX Prudential JennisonPairCorr
  0.86PGJCX Prudential JennisonPairCorr
  0.87PGJZX Prudential JennisonPairCorr
  0.97FRFAX Prudential Floating RatePairCorr
  0.98FRFCX Prudential Floating RatePairCorr
  0.94PGKZX Pgim Jennison TechnologyPairCorr
  0.81PGOAX Prudential Jennison SmallPairCorr
  0.78PGNAX Jennison Natural ResPairCorr
  0.81PGTOX Prudential Global TotalPairCorr
  0.86PGVZX Prudential GovernmentPairCorr
  0.85PGVAX Prudential GovernmentPairCorr
  0.9PHECX Prudential Global TotalPairCorr
  0.89PHEAX Prudential Global TotalPairCorr
  0.71TGMBX Prudential Porate BondPairCorr
  0.91PHEZX Prudential Global TotalPairCorr

Related Correlations Analysis

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