Prudential Financial Correlations

PFSZX Fund

USD 25.79 0.14 0.54%

The current 90-days correlation between Prudential Financial and Prudential Financial Services is 1.0 (i.e., No risk reduction). The correlation of Prudential Financial 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 Financial Correlation With Market

Poor diversification

The correlation between Prudential Financial Services and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Financial Services 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 Financial Services. 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.

For more information on how to buy Prudential Mutual Fund please use our How to Invest in Prudential Financial guide.

Moving together with Prudential Mutual Fund

0.91

PFSAX

Prudential Financial

Pair Corr

Moving against Prudential Mutual Fund

0.68	PGJAX	Prudential Jennison	Pair Corr
0.68	PGJZX	Prudential Jennison	Pair Corr
0.67	PGJCX	Prudential Jennison	Pair Corr
0.57	PGFCX	Pgim Conservative	Pair Corr
0.52	EMDAX	Prudential Emerging	Pair Corr
0.5	PGKZX	Pgim Jennison Technology	Pair Corr
0.48	EMDZX	Prudential Emerging	Pair Corr
0.48	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.46	EMDCX	Prudential Emerging	Pair Corr
0.77	PHEZX	Prudential Global Total	Pair Corr
0.74	PHECX	Prudential Global Total	Pair Corr
0.73	PHEAX	Prudential Global Total	Pair Corr
0.73	SDMAX	Prudential Short Duration	Pair Corr
0.72	PHSZX	Prudential Health	Pair Corr
0.71	PHLCX	Prudential Health	Pair Corr
0.71	PIFZX	Prudential Short Term	Pair Corr
0.66	PHICX	Prudential Muni High	Pair Corr
0.66	PHIZX	Prudential Muni High	Pair Corr
0.66	PIFCX	Prudential Short Term	Pair Corr
0.52	PJIAX	Prudential Jennison	Pair Corr
0.52	PJGZX	Prudential Jennison	Pair Corr
0.45	PIBAX	Prudential Balanced	Pair Corr
0.73	PRUAX	Prudential Utility	Pair Corr
0.7	DNMZX	Prudential National Muni	Pair Corr

Related Correlations Analysis

	PSSRX	XFINX	FTIXX	PGFMX	FIDAX	BTO	RMBLX
PSSRX		0.23	0.0	-0.53	0.87	0.86	0.72	PSSRX
XFINX	0.23		0.0	0.02	0.32	0.16	0.35	XFINX
FTIXX	0.0	0.0		0.0	0.0	0.0	0.0	FTIXX
PGFMX	-0.53	0.02	0.0		-0.42	-0.66	-0.35	PGFMX
FIDAX	0.87	0.32	0.0	-0.42		0.73	0.64	FIDAX
BTO	0.86	0.16	0.0	-0.66	0.73		0.55	BTO
RMBLX	0.72	0.35	0.0	-0.35	0.64	0.55		RMBLX
	PSSRX	XFINX	FTIXX	PGFMX	FIDAX	BTO	RMBLX

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

FIDAX	+ 0.87	PSSRX
BTO	+ 0.86	PSSRX
BTO	+ 0.73	FIDAX
RMBLX	+ 0.72	PSSRX
RMBLX	+ 0.64	FIDAX
RMBLX	+ 0.55	BTO

High negative correlations

BTO	- 0.66	PGFMX
PGFMX	- 0.53	PSSRX
FIDAX	- 0.42	PGFMX
RMBLX	- 0.35	PGFMX
RMBLX	- 0.0	FTIXX
BTO	- 0.0	FTIXX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Financial 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 Financial'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
PSSRX	0.71	(0.11)	0.00	(0.05)	0.00	0.00	1.36	(1.74)	5.14
XFINX	0.14	0.00	(0.17)	(0.12)	0.25	(0.16)	0.29	(0.21)	1.44
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PGFMX	0.31	0.03	(0.05)	0.31	0.31	(0.34)	0.63	(0.63)	1.60
FIDAX	0.70	(0.03)	0.00	(0.18)	0.00	0.00	1.36	(1.54)	5.59
BTO	1.02	(0.17)	0.00	(0.10)	0.00	0.00	1.81	(2.33)	7.10
RMBLX	0.96	(0.04)	(0.03)	0.02	1.34	(1.02)	2.70	(1.59)	7.69

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