Prudential Jennison Correlations

PWJQX Fund

USD 35.00 0.42 1.19%

The current 90-days correlation between Prudential Jennison and Europacific Growth Fund is 0.87 (i.e., Very 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 Internatio and DJI is 0.76 (i.e., Poor 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 producer price index.

Moving together with Prudential Mutual Fund

1.0	PWJRX	Prudential Jennison	Pair Corr
1.0	PWJBX	Pgim Jennison Intern	Pair Corr
1.0	PWJDX	Pgim Jennison Intern	Pair Corr
0.76	PJGQX	Prudential Jennison Mid	Pair Corr
0.61	JDERX	Prudential Jennison Mid	Pair Corr

Moving against Prudential Mutual Fund

0.65	SCFOX	Pgim Securitized Credit	Pair Corr
0.63	PHIQX	Prudential Muni High	Pair Corr
0.62	SCFQX	Pgim Securitized Credit	Pair Corr
0.51	EMDQX	Prudential Emerging	Pair Corr
0.44	PGIQX	Prudential Government	Pair Corr
0.38	PFRIX	Prudential Floating Rate	Pair Corr
0.37	PHEQX	Prudential Global Total	Pair Corr
0.67	PHLQX	Prudential Health	Pair Corr
0.67	PJHRX	Prudential Health	Pair Corr
0.62	SDMQX	Prudential Short Duration	Pair Corr
0.56	PIFEX	Prudential Short Term	Pair Corr
0.38	PJDQX	Pgim Jennison Rising	Pair Corr
0.63	PADQX	Prudential Absolute	Pair Corr
0.62	PNMQX	Pgim National Muni	Pair Corr

Related Correlations Analysis

	AEPFX	RERGX	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	KNO	XTWO
AEPFX		1.0	-0.09	0.72	0.51	0.27	0.13	0.5	0.69	0.43	AEPFX
RERGX	1.0		-0.09	0.72	0.51	0.27	0.13	0.51	0.69	0.43	RERGX
BRRAY	-0.09	-0.09		-0.37	0.31	-0.03	-0.03	0.26	-0.23	0.16	BRRAY
MSTSX	0.72	0.72	-0.37		0.0	0.07	-0.18	0.07	0.76	-0.02	MSTSX
ABHYX	0.51	0.51	0.31	0.0		0.05	0.42	0.64	0.13	0.84	ABHYX
LBHIX	0.27	0.27	-0.03	0.07	0.05		0.51	0.2	0.4	0.37	LBHIX
SCAXF	0.13	0.13	-0.03	-0.18	0.42	0.51		0.31	0.24	0.78	SCAXF
VIASP	0.5	0.51	0.26	0.07	0.64	0.2	0.31		0.27	0.61	VIASP
KNO	0.69	0.69	-0.23	0.76	0.13	0.4	0.24	0.27		0.3	KNO
XTWO	0.43	0.43	0.16	-0.02	0.84	0.37	0.78	0.61	0.3		XTWO
	AEPFX	RERGX	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	KNO	XTWO

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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

RERGX	+ 1.0	AEPFX
XTWO	+ 0.84	ABHYX
XTWO	+ 0.78	SCAXF
KNO	+ 0.76	MSTSX
MSTSX	+ 0.72	AEPFX
MSTSX	+ 0.72	RERGX

High negative correlations

MSTSX	- 0.37	BRRAY
KNO	- 0.23	BRRAY
SCAXF	- 0.18	MSTSX
BRRAY	- 0.09	RERGX
BRRAY	- 0.09	AEPFX
SCAXF	- 0.03	BRRAY

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
AEPFX	0.60	(0.01)	(0.02)	0.06	0.73	(0.62)	1.09	(1.28)	3.55
RERGX	0.60	(0.01)	(0.02)	0.06	0.73	(0.62)	1.09	(1.29)	3.55
BRRAY	2.01	0.18	0.00	0.35	0.00	0.00	0.00	0.00	57.34
MSTSX	0.51	(0.05)	(0.08)	0.00	0.72	(0.51)	0.91	(1.06)	2.78
ABHYX	0.09	0.00	(0.30)	0.00	0.00	(0.19)	0.23	(0.23)	1.04
LBHIX	8.92	4.87	17.55	(0.94)	0.00	(17.86)	0.47	(0.24)	299.13
SCAXF	13.14	7.52	0.00	(0.72)	0.00	0.00	0.00	0.00	376.19
VIASP	0.41	0.00	(0.10)	0.01	0.60	(0.41)	0.94	(1.05)	2.95
KNO	0.55	(0.05)	(0.08)	0.00	0.81	(0.52)	1.12	(1.27)	2.95
XTWO	0.05	0.00	(1.00)	0.00	0.00	(0.07)	0.16	(0.10)	0.35

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