Prudential High Correlations

PBHAX Fund

USD 4.85 0.01 0.21%

The current 90-days correlation between Prudential High Yield and Virtus Seix Government is 0.54 (i.e., Very weak diversification). The correlation of Prudential High 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 High Correlation With Market

Very weak diversification

The correlation between Prudential High Yield and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential High Yield and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Prudential High Yield. 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

0.93	HYSZX	Prudential Short Duration	Pair Corr
0.95	HYSAX	Prudential Short Duration	Pair Corr
0.95	HYSCX	Prudential Short Duration	Pair Corr
0.74	EMDCX	Prudential Emerging	Pair Corr
0.73	EMDAX	Prudential Emerging	Pair Corr
0.77	EMDZX	Prudential Emerging	Pair Corr
0.61	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.76	FRFZX	Prudential Floating Rate	Pair Corr
0.75	FRFAX	Prudential Floating Rate	Pair Corr
0.72	FRFCX	Prudential Floating Rate	Pair Corr
0.78	PGNAX	Jennison Natural Res	Pair Corr
0.95	PHYZX	Prudential High Yield	Pair Corr
0.93	PHYEX	Pgim High Yield	Pair Corr
0.75	PIFCX	Prudential Short Term	Pair Corr

Related Correlations Analysis

	SSAGX	PBCAX	MSTPX	FCMAX	TIMTX	MSPYX	PTIMX	ATOAX
SSAGX		0.9	0.76	0.76	0.91	0.76	0.66	0.97	SSAGX
PBCAX	0.9		0.92	0.94	0.98	0.94	0.89	0.88	PBCAX
MSTPX	0.76	0.92		0.98	0.95	0.98	0.94	0.75	MSTPX
FCMAX	0.76	0.94	0.98		0.95	0.99	0.97	0.76	FCMAX
TIMTX	0.91	0.98	0.95	0.95		0.95	0.88	0.89	TIMTX
MSPYX	0.76	0.94	0.98	0.99	0.95		0.96	0.74	MSPYX
PTIMX	0.66	0.89	0.94	0.97	0.88	0.96		0.66	PTIMX
ATOAX	0.97	0.88	0.75	0.76	0.89	0.74	0.66		ATOAX
	SSAGX	PBCAX	MSTPX	FCMAX	TIMTX	MSPYX	PTIMX	ATOAX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential High 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 High'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SSAGX	0.05	0.01	(0.59)	1.29	(0.17)	0.10	(0.10)	0.51
PBCAX	0.06	0.01	(0.62)	1.25	(0.15)	0.20	(0.10)	0.40
MSTPX	0.05	0.01	(0.64)	(0.67)	(0.11)	0.10	(0.10)	0.30
FCMAX	0.08	0.01	(0.51)	(3.50)	(0.13)	0.24	(0.16)	0.57
TIMTX	0.07	0.02	(0.44)	(1.47)	(0.12)	0.19	(0.09)	0.56
MSPYX	0.08	0.01	(0.31)	(1.00)	(0.16)	0.21	(0.10)	0.71
PTIMX	0.08	0.01	(0.34)	(4.01)	(0.10)	0.18	(0.22)	0.75
ATOAX	0.03	0.00	0.00	0.80	0.00	0.20	0.00	0.30

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Prudential High Correlations

Prudential High Correlation With Market

Very weak diversification

Moving together with Prudential Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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