Prudential Short-term Correlations

Mutual Funds . USA . 
Fund . Prudential Short Term Porate
PIFEX Fund  USD 10.85  0.02  0.18%   
The current 90-days correlation between Prudential Short Term and Franklin Gold Precious is 0.18 (i.e., Average diversification). The correlation of Prudential Short-term 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 Short-term Correlation With Market

Significant diversification

The correlation between Prudential Short Term Porate and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Short Term Porate 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 Short Term Porate. 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 consumer price index.

Moving together with Prudential Mutual Fund

  0.98HYSQX Prudential Short DurationPairCorr
  0.94EMDQX Prudential EmergingPairCorr
  0.94PFRIX Prudential Floating RatePairCorr
  0.76PFSQX Prudential JennisonPairCorr
  0.92PGJQX Prudential JennisonPairCorr
  0.92PGIQX Prudential GovernmentPairCorr
  0.88PGKCX Pgim Jennison TechnologyPairCorr
  0.88PGKAX Pgim Jennison TechnologyPairCorr
  0.88PGKRX Pgim Jennison TechnologyPairCorr
  0.86PGTQX Prudential Global TotalPairCorr
  0.86PGTSX Prudential Global TotalPairCorr
  0.97SCFQX Pgim Securitized CreditPairCorr
  0.97SCFOX Pgim Securitized CreditPairCorr
  0.97SCFZX Pgim Securitized CreditPairCorr
  0.97SCFVX Pgim Securitized CreditPairCorr
  0.96PHEQX Prudential Global TotalPairCorr
  0.99PHYGX Pgim High YieldPairCorr
  0.98PHYQX Prudential High YieldPairCorr
  0.87SUVQX Prudential Qma StrategicPairCorr
  0.96PIBQX Prudential BalancedPairCorr
  0.77JSCRX Prudential Jennison SmallPairCorr
  0.97PIFGX Prudential Short TermPairCorr
  0.99SDMQX Prudential Short DurationPairCorr
  0.87SDVRX Prudential Qma MidPairCorr
  0.95PJDQX Pgim Jennison RisingPairCorr
  0.89PJFPX Prudential JennisonPairCorr
  0.9PJFQX Prudential JennisonPairCorr
  0.89PJFOX Prudential JennisonPairCorr
  0.91PJERX Prudential JennisonPairCorr
  0.92PJIQX Prudential JennisonPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Short-term 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 Short-term'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.

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