Prudential Jennison Correlations

PWJAX Fund

USD 35.15 0.26 0.73%

The current 90-days correlation between Prudential Jennison and Columbia Select Large Cap is 0.06 (i.e., Significant 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

Modest diversification

The correlation between Prudential Jennison Internatio and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Internatio 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 International. 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

0.9	PWJZX	Prudential Jennison	Pair Corr
0.9	PWJCX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.5	PHIZX	Prudential Muni High	Pair Corr
0.48	PHICX	Prudential Muni High	Pair Corr
0.43	FRFAX	Prudential Floating Rate	Pair Corr
0.41	FRFCX	Prudential Floating Rate	Pair Corr
0.4	FRFZX	Prudential Floating Rate	Pair Corr
0.37	EMDCX	Prudential Emerging	Pair Corr
0.37	EMDAX	Prudential Emerging	Pair Corr
0.37	EMDZX	Prudential Emerging	Pair Corr
0.34	PGVZX	Prudential Government	Pair Corr
0.54	SDMAX	Prudential Short Duration	Pair Corr
0.52	SDMZX	Prudential Short Duration	Pair Corr
0.48	SDMCX	Prudential Short Duration	Pair Corr
0.46	PIFZX	Prudential Short Term	Pair Corr
0.43	PHSZX	Prudential Health	Pair Corr
0.35	PIFCX	Prudential Short Term	Pair Corr
0.34	PHLAX	Prudential Health	Pair Corr

Related Correlations Analysis

	CSVZX	AIVEX	SIDVX	SAIFX	SINAX	TWIEX	ARGFX	PFPMX	USAAX	BIALX
CSVZX		0.78	0.91	0.83	0.8	0.48	0.88	0.97	0.88	0.87	CSVZX
AIVEX	0.78		0.78	0.82	0.82	0.88	0.83	0.82	0.8	0.85	AIVEX
SIDVX	0.91	0.78		0.79	0.8	0.45	0.79	0.89	0.81	0.82	SIDVX
SAIFX	0.83	0.82	0.79		0.96	0.6	0.93	0.87	0.87	0.91	SAIFX
SINAX	0.8	0.82	0.8	0.96		0.59	0.9	0.84	0.85	0.88	SINAX
TWIEX	0.48	0.88	0.45	0.6	0.59		0.61	0.56	0.58	0.63	TWIEX
ARGFX	0.88	0.83	0.79	0.93	0.9	0.61		0.9	0.93	0.96	ARGFX
PFPMX	0.97	0.82	0.89	0.87	0.84	0.56	0.9		0.89	0.89	PFPMX
USAAX	0.88	0.8	0.81	0.87	0.85	0.58	0.93	0.89		0.96	USAAX
BIALX	0.87	0.85	0.82	0.91	0.88	0.63	0.96	0.89	0.96		BIALX
	CSVZX	AIVEX	SIDVX	SAIFX	SINAX	TWIEX	ARGFX	PFPMX	USAAX	BIALX

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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
CSVZX	0.75	0.20	0.21	0.32	0.50	(0.87)	1.40	(1.05)	8.33
AIVEX	0.61	(0.01)	(0.03)	0.07	0.68	(0.67)	1.18	(0.99)	2.84
SIDVX	0.55	0.07	0.02	0.40	0.64	(0.60)	1.14	(1.07)	2.97
SAIFX	0.74	0.17	0.21	0.26	0.33	(0.84)	1.24	(1.00)	13.09
SINAX	0.74	0.20	0.20	0.68	0.33	(0.82)	1.23	(1.00)	12.68
TWIEX	0.66	(0.06)	(0.07)	0.01	0.90	(0.64)	1.28	(1.38)	3.34
ARGFX	1.16	0.23	0.18	0.28	0.97	(1.33)	2.50	(1.87)	13.47
PFPMX	0.90	0.14	0.15	0.21	0.69	(0.98)	1.86	(1.28)	9.37
USAAX	0.90	0.13	0.08	0.25	1.00	(1.00)	2.03	(1.91)	12.25
BIALX	0.64	0.05	0.04	0.13	0.56	(0.71)	1.16	(1.00)	6.62

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