Prudential Jennison Correlations

PGJAX Fund

USD 18.13 0.09 0.49%

The current 90-days correlation between Prudential Jennison and Thrivent Natural Resources is 0.14 (i.e., Average 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. 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 Jennison Correlation With Market

Average diversification

The correlation between Prudential Jennison Global and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Global 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 Jennison Global. 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

0.77	GLIFX	Lazard Global Listed	Pair Corr
0.77	GLFOX	Lazard Global Listed	Pair Corr
0.93	VCRCX	Mainstay Cbre Global	Pair Corr
0.94	VCRAX	Voya Cbre Global	Pair Corr
0.76	VCRIX	Voya Cbre Global	Pair Corr
0.84	SMPSX	Semiconductor Ultrasector	Pair Corr
0.76	TREMX	T Rowe Price	Pair Corr
0.75	ONERX	One Rock Fund	Pair Corr
0.76	TTEEX	T Rowe Price	Pair Corr
0.83	FIKGX	Fidelity Advisor Sem	Pair Corr
0.72	FELIX	Fidelity Advisor Sem	Pair Corr
0.71	FSELX	Fidelity Select Semi	Pair Corr
0.83	FELAX	Fidelity Advisor Sem	Pair Corr
0.83	FELTX	Fidelity Advisor Sem	Pair Corr

Moving against Prudential Mutual Fund

0.43	HPQ	HP Inc	Pair Corr
0.37	MCD	McDonalds	Pair Corr
0.31	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	TREIX	CAEIX	PDX	PSPFX	IGNAX	HNRGX	XGNTX
TREIX		0.94	0.95	0.97	0.94	0.84	0.82	TREIX
CAEIX	0.94		0.89	0.94	0.94	0.84	0.77	CAEIX
PDX	0.95	0.89		0.95	0.95	0.9	0.89	PDX
PSPFX	0.97	0.94	0.95		0.96	0.85	0.89	PSPFX
IGNAX	0.94	0.94	0.95	0.96		0.95	0.88	IGNAX
HNRGX	0.84	0.84	0.9	0.85	0.95		0.81	HNRGX
XGNTX	0.82	0.77	0.89	0.89	0.88	0.81		XGNTX
	TREIX	CAEIX	PDX	PSPFX	IGNAX	HNRGX	XGNTX

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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
TREIX	0.07	0.01	(1.60)	4.78	0.00	(0.13)	0.20	(0.10)	0.51
CAEIX	0.65	0.19	0.14	0.51	0.23	(0.85)	1.70	(1.05)	4.46
PDX	0.79	0.19	0.02	1.02	0.60	(0.90)	2.11	(1.32)	5.84
PSPFX	0.67	0.30	0.04	(1.77)	0.12	(0.90)	1.84	(1.03)	3.42
IGNAX	0.75	0.27	0.03	(2.91)	0.29	(0.95)	1.88	(1.09)	3.09
HNRGX	0.97	0.16	(0.07)	(2.24)	1.06	(1.06)	2.07	(1.95)	5.11
XGNTX	0.55	0.09	(0.20)	(6.79)	0.58	(0.62)	1.28	(1.12)	3.42

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