Prudential National Correlations

Mutual Funds USA . 
Fund . Prudential National Muni
DNMZX Fund  USD 13.68  0.01  0.07%   
The current 90-days correlation between Prudential National Muni and Qs Defensive Growth is 0.13 (i.e., Average diversification). The correlation of Prudential National 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 National Correlation With Market

Average diversification

The correlation between Prudential National Muni 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 National Muni and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Prudential National Muni. 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

  0.98VWITX Vanguard IntermediatePairCorr
  0.98VWIUX Vanguard Intermediate-terPairCorr
  0.69AFTEX Tax Exempt BondPairCorr
  0.69AFTFX Tax Exempt BondPairCorr
  0.62TEBCX Tax Exempt BondPairCorr
  0.76TEAFX Tax Exempt BondPairCorr
  0.75TFEBX Tax Exempt BondPairCorr
  0.98FLTMX Fidelity IntermediatePairCorr
  0.66MDNLX Blackrock NationalPairCorr
  0.79GAAKX Gmo Alternative AlloPairCorr
  0.78GAAGX Gmo Alternative AlloPairCorr
  0.69GPBFX Gmo E PlusPairCorr
  0.88PSHAX Short Term FundPairCorr
  0.85CSRYX Columbia Select LargePairCorr
  0.83FISVX Fidelity Small CapPairCorr
  0.81FDEGX Fidelity Growth StraPairCorr
  0.84DQIYX Dreyfus Equity IncomePairCorr
  0.83SPSDX Sterling Capital BehPairCorr
  0.88FFFCX Fidelity Freedom 2010PairCorr
  0.79RIVKX American Funds InterPairCorr
  0.69CSCO Cisco SystemsPairCorr
  0.61MSFT Microsoft Earnings Call This WeekPairCorr
  0.75IBM International BusinessPairCorr
  0.64AXP American ExpressPairCorr
  0.65CAT CaterpillarPairCorr
  0.69CVX Chevron CorpPairCorr

Moving against Prudential Mutual Fund

  0.72MCD McDonaldsPairCorr
  0.4TRV The Travelers CompaniesPairCorr
  0.33PG Procter Gamble Earnings Call This WeekPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential National 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 National'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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