Prudential Emerging Correlations

Mutual Funds . USA . 
Fund . Prudential Emerging Markets
EMDQX Fund  USD 4.95  0.02  0.40%   
The current 90-days correlation between Prudential Emerging and Morningstar Aggressive Growth is 0.55 (i.e., Very weak diversification). The correlation of Prudential Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Prudential Emerging Markets and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Emerging Markets 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 Emerging Markets. 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 employment.

Moving together with Prudential Mutual Fund

  0.76PWJQX Prudential JennisonPairCorr
  0.76PWJRX Prudential JennisonPairCorr
  0.62PWJBX Pgim Jennison InternPairCorr
  0.76PWJDX Pgim Jennison InternPairCorr
  0.62PGIQX Prudential GovernmentPairCorr
  0.79PGKCX Pgim Jennison TechnologyPairCorr
  0.74PGRQX Prudential Global RealPairCorr
  0.92PGTSX Prudential Global TotalPairCorr
  0.9SCFZX Pgim Securitized CreditPairCorr
  0.92PHIQX Prudential Muni HighPairCorr
  0.71PHYQX Prudential High YieldPairCorr
  0.7PIBQX Prudential BalancedPairCorr
  0.93PIFEX Prudential Short TermPairCorr
  0.91PIFGX Prudential Short TermPairCorr
  0.93SDMQX Prudential Short DurationPairCorr
  0.87PJDQX Pgim Jennison RisingPairCorr
  0.82PJFPX Prudential JennisonPairCorr
  0.82PJFQX Prudential JennisonPairCorr
  0.89PJERX Prudential JennisonPairCorr
  0.76PJHRX Prudential HealthPairCorr
  0.89PJIQX Prudential JennisonPairCorr
  0.66PJORX Prudential JennisonPairCorr
  0.66PJOQX Prudential JennisonPairCorr
  0.85PJNQX Jennison Natural ResPairCorr
  0.94PJRQX Prudential Qma IntlPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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