Prudential Jennison Correlations

Mutual Funds USA . 
Fund . Prudential Jennison Growth
PJFOX Fund  USD 73.89  0.14  0.19%   
The current 90-days correlation between Prudential Jennison and Prudential Jennison International is 0.73 (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. 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

Poor diversification

The correlation between Prudential Jennison Growth and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Growth 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 Growth. 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 metropolitan statistical area.

Moving together with Prudential Mutual Fund

  0.71PWJQX Prudential JennisonPairCorr
  0.69PWJRX Prudential JennisonPairCorr
  0.7PWJBX Pgim Jennison InternPairCorr
  0.71PWJDX Pgim Jennison InternPairCorr
  0.9HYSQX Prudential Short DurationPairCorr
  0.85EMDQX Prudential EmergingPairCorr
  0.93PFRIX Prudential Floating RatePairCorr
  0.89PFSQX Prudential JennisonPairCorr
  0.8PGJQX Prudential JennisonPairCorr
  0.72PGIQX Prudential GovernmentPairCorr
  0.99PGKCX Pgim Jennison TechnologyPairCorr
  0.99PGKAX Pgim Jennison TechnologyPairCorr
  0.99PGKRX Pgim Jennison TechnologyPairCorr
  0.66PGTQX Prudential Global TotalPairCorr
  0.66PGTSX Prudential Global TotalPairCorr
  0.89SCFQX Pgim Securitized CreditPairCorr
  0.88SCFOX Pgim Securitized CreditPairCorr
  0.87SCFZX Pgim Securitized CreditPairCorr
  0.9SCFVX Pgim Securitized CreditPairCorr
  0.8PHEQX Prudential Global TotalPairCorr
  0.89PHYGX Pgim High YieldPairCorr
  0.9PHYQX Prudential High YieldPairCorr
  0.84SUVQX Prudential Qma StrategicPairCorr
  0.93PIBQX Prudential BalancedPairCorr
  0.75JSCRX Prudential Jennison SmallPairCorr
  0.85PIFEX Prudential Short TermPairCorr
  0.83PIFGX Prudential Short TermPairCorr
  0.82SDMQX Prudential Short DurationPairCorr
  0.87SDVRX Prudential Qma MidPairCorr
  0.96PJDQX Pgim Jennison RisingPairCorr
  1.0PJFPX Prudential JennisonPairCorr
  1.0PJFQX Prudential JennisonPairCorr
  0.85PJERX Prudential JennisonPairCorr
  0.85PJIQX Prudential JennisonPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWJQX  0.68 (0.03)(0.05) 0.06  0.71 
(0.74)
 1.69 
(1.27)
 3.17 
PWJRX  0.68 (0.03)(0.06) 0.06  0.73 
(0.73)
 1.64 
(1.28)
 3.17 
PWJBX  0.68 (0.03)(0.06) 0.06  0.73 
(0.74)
 1.68 
(1.27)
 3.17 
PWJDX  0.68 (0.03)(0.05) 0.06  0.72 
(0.74)
 1.68 
(1.26)
 3.15 
HYSQX  0.11  0.02 (0.39) 0.32  0.00 
(0.19)
 0.24 
(0.12)
 0.83 
EMDQX  0.31  0.03 (0.09) 0.21  0.14 
(0.42)
 0.63 
(0.62)
 1.88 
PFRIX  0.06  0.01  0.00  0.34  0.00 
 0.00 
 0.11 
(0.11)
 1.00 
PFSQX  0.69 (0.04)(0.03) 0.06  0.82 
(0.77)
 1.42 
(1.54)
 3.78 
PGJQX  0.46 (0.03)(0.12) 0.04  0.56 
(0.48)
 1.05 
(1.06)
 2.55 
PGIQX  0.25  0.04 (0.18) 1.17  0.00 
(0.32)
 0.51 
(0.38)
 1.29 

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