Prudential Emerging Correlations

Mutual Funds . USA . 
Fund . Prudential Emerging Markets
EMDQX Fund  USD 4.88  0.02  0.41%   
The current 90-days correlation between Prudential Emerging and Fulcrum Diversified Absolute is -0.15 (i.e., Good 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

Good diversification

The correlation between Prudential Emerging Markets and DJI is -0.17 (i.e., Good 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 producer price index.

Moving together with Prudential Mutual Fund

  0.92PWJQX Prudential JennisonPairCorr
  0.91PGKCX Pgim Jennison TechnologyPairCorr
  0.93PHYGX Pgim High YieldPairCorr
  0.82PSSRX Prudential FinancialPairCorr
  0.71PLMPX Pimco Emerging MarketsPairCorr
  0.71PLMIX Pimco Emerging MarketsPairCorr
  0.64PELPX Pimco Emerging LocalPairCorr
  0.69PELBX Pimco Emerging LocalPairCorr
  0.69PELAX Pimco Emerging LocalPairCorr
  0.63PELCX Pimco Emerging LocalPairCorr
  0.64PELNX Pimco Emerging LocalPairCorr
  0.67EEIAX Eaton Vance EmergingPairCorr
  0.71EEIIX Eaton Vance EmergingPairCorr
  0.71EEICX Eaton Vance EmergingPairCorr
  0.93GOBAX Legg Mason BwPairCorr
  0.68FSMDX Fidelity Mid CapPairCorr
  0.69BTEEX Baron Select FundsPairCorr
  0.71HRAUX Eagle Mid CapPairCorr
  0.92HGOIX Hartford GrowthPairCorr
  0.69MGGPX Global OpportunityPairCorr
  0.64EMXCX Ashmore Emerging MarketsPairCorr
  0.7TRGZX T Rowe PricePairCorr
  0.68HERAX Hartford Emerging MarketsPairCorr
  0.91MSTGX Morningstar Global IncomePairCorr
  0.71TILPX Tiaa Cref LargePairCorr
  0.69TIDDX T Rowe PricePairCorr
  0.73MATFX Matthews Asia InnovatorsPairCorr
  0.92CMTFX Columbia Global TechPairCorr
  0.7WBVNX William Blair SmallPairCorr

Moving against Prudential Mutual Fund

  0.52PQTAX Pimco Trends ManagedPairCorr
  0.49GPMFX Guidepath Managed FuturesPairCorr
  0.48PQTNX Pimco Trends ManagedPairCorr
  0.48PQTIX Aa Pimco TrPairCorr

Related Correlations Analysis

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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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