PRUDENTIAL JENNISON Correlations

PDEZX Fund

USD 22.17 -0.10 -0.45%

Current 90-days correlation between Prudential Jennison and American Beacon International is 0.65 (i.e., Poor diversification).The correlation of PRUDENTIAL JENNISON 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.

PRUDENTIAL JENNISON Correlation With Market

Poor diversification

Across the chosen horizon, PDEZX and DJI show a correlation of 0.65 and fall into the Poor diversification bucket. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

Use Your Equity Center to better understand diversified portfolio construction. Such insight adds context to allocation decisions within a diversified portfolio. This includes a position in Prudential Jennison Emerging within the portfolio mix. 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

0.85	HYSZX	Prudential Short Duration	Pair Corr
0.87	HYSAX	Prudential Short Duration	Pair Corr
0.87	HYSCX	Prudential Short Duration	Pair Corr
0.85	EMDCX	Prudential Emerging	Pair Corr
0.86	EMDAX	Prudential Emerging	Pair Corr
0.86	EMDZX	Prudential Emerging	Pair Corr
0.87	PGJAX	Prudential Jennison	Pair Corr
0.87	PGJCX	Prudential Jennison	Pair Corr
0.88	PGJZX	Prudential Jennison	Pair Corr
0.77	PGOAX	Prudential Jennison Small	Pair Corr
0.94	PGNAX	Jennison Natural	Pair Corr
0.85	PGTOX	Prudential Global Total	Pair Corr
0.82	PGVZX	Prudential Government	Pair Corr
0.82	PGVAX	Prudential Government	Pair Corr
0.77	PHECX	Prudential Global Total	Pair Corr
0.79	PHEAX	Prudential Global Total	Pair Corr
0.83	PHEZX	Prudential Global Total	Pair Corr
0.92	PHICX	Prudential Muni High	Pair Corr
0.93	PHIZX	Prudential Muni High	Pair Corr
0.62	PHLAX	Prudential Health	Pair Corr
0.93	PHYZX	Prudential High Yield	Pair Corr
0.88	PHYEX	PGIM High Yield	Pair Corr
0.87	PZTRX	Prudential Global Total	Pair Corr
0.92	PIBAX	Prudential Balanced	Pair Corr
0.68	SUVCX	Prudential Qma Strategic	Pair Corr
0.72	SUVAX	Prudential Qma Strategic	Pair Corr
0.86	PIFCX	Prudential Short Term	Pair Corr
0.71	SUVZX	Prudential Qma Strategic	Pair Corr
0.85	PIFZX	Prudential Short Term	Pair Corr

Moving against PRUDENTIAL Mutual Fund

0.72	PJFAX	Prudential Jennison	Pair Corr
0.72	PJFCX	Prudential Jennison	Pair Corr
0.71	PJFZX	Prudential Jennison	Pair Corr
0.69	PHLCX	Prudential Health	Pair Corr

Related Correlations Analysis

	PNRAX	SWYDX	GWETX	MIMSX	WMLIX	VMO	AIEAX	AAISX	AILCX	AAIPX
PNRAX		0.56	0.5	-0.33	0.45	0.34	0.59	0.57	0.57	0.57	PNRAX
SWYDX	0.56		0.82	-0.53	0.52	0.89	0.93	0.94	0.94	0.94	SWYDX
GWETX	0.5	0.82		-0.85	0.75	0.72	0.84	0.84	0.84	0.84	GWETX
MIMSX	-0.33	-0.53	-0.85		-0.79	-0.47	-0.57	-0.56	-0.56	-0.56	MIMSX
WMLIX	0.45	0.52	0.75	-0.79		0.38	0.53	0.55	0.55	0.55	WMLIX
VMO	0.34	0.89	0.72	-0.47	0.38		0.89	0.84	0.84	0.84	VMO
AIEAX	0.59	0.93	0.84	-0.57	0.53	0.89		0.98	0.98	0.98	AIEAX
AAISX	0.57	0.94	0.84	-0.56	0.55	0.84	0.98		1.0	1.0	AAISX
AILCX	0.57	0.94	0.84	-0.56	0.55	0.84	0.98	1.0		1.0	AILCX
AAIPX	0.57	0.94	0.84	-0.56	0.55	0.84	0.98	1.0	1.0		AAIPX
	PNRAX	SWYDX	GWETX	MIMSX	WMLIX	VMO	AIEAX	AAISX	AILCX	AAIPX

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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

AILCX	+ 1.0	AAISX
AAIPX	+ 1.0	AAISX
AAIPX	+ 1.0	AILCX
AAISX	+ 0.98	AIEAX
AILCX	+ 0.98	AIEAX
AAIPX	+ 0.98	AIEAX

High negative correlations

MIMSX	- 0.85	GWETX
WMLIX	- 0.79	MIMSX
AIEAX	- 0.57	MIMSX
AAIPX	- 0.56	MIMSX
AILCX	- 0.56	MIMSX
AAISX	- 0.56	MIMSX

Risk-Adjusted Indicators

There is a big difference between PRUDENTIAL Mutual Fund performing well and PRUDENTIAL JENNISON 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 JENNISON'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
PNRAX	0.53	-0.01	0.01	0.04	0.75	-0.53	0.91	-1.28	3.59
SWYDX	0.25	0.01	0.07	0.03	0.29	-0.27	0.52	-0.58	1.67
GWETX	0.86	0.13	0.12	0.12	0.93	-0.93	1.67	-1.66	10.40
MIMSX	2.70	-1.29	0.00	-0.54	0.00	0.00	1.65	-1.63	89.94
WMLIX	0.74	0.19	0.25	0.14	0.51	-0.94	0.88	-1.23	14.86
VMO	0.29	0.07	0.23	-2.47	0.10	-0.35	0.73	-0.50	1.84
AIEAX	0.61	0.06	0.07	-0.75	0.98	-0.60	1.20	-1.51	5.23
AAISX	0.61	0.08	0.08	0.11	1.01	-0.61	1.19	-1.48	5.15
AILCX	0.61	0.08	0.07	0.10	0.96	-0.61	1.21	-1.48	5.19
AAIPX	0.61	0.08	0.08	0.11	0.96	-0.61	1.19	-1.50	5.19

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