Prudential Floating Correlations

Mutual Funds . USA . 
Fund . Prudential Floating Rate
FRFAX Fund  USD 9.08  0.01  0.11%   
The current 90-days correlation between Prudential Floating Rate and Blackrock High Yield is -0.08 (i.e., Good diversification). The correlation of Prudential Floating 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 Floating Correlation With Market

Good diversification

The correlation between Prudential Floating Rate and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Floating Rate 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 Floating Rate. 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

  0.95PWJZX Prudential JennisonPairCorr
  0.95PWJAX Prudential JennisonPairCorr
  0.94PWJCX Prudential JennisonPairCorr
  0.97HYSZX Prudential Short DurationPairCorr
  0.97HYSAX Prudential Short DurationPairCorr
  0.97HYSCX Prudential Short DurationPairCorr
  0.94EMDCX Prudential EmergingPairCorr
  0.94EMDAX Prudential EmergingPairCorr
  0.94EMDZX Prudential EmergingPairCorr
  0.94PFSZX Prudential FinancialPairCorr
  0.94PFSAX Prudential FinancialPairCorr
  0.97PGFCX Pgim ConservativePairCorr
  0.98PGFEX Pgim Enhanced RetirementPairCorr
  0.91PGJAX Prudential JennisonPairCorr
  0.91PGJCX Prudential JennisonPairCorr
  0.91PGJZX Prudential JennisonPairCorr
  1.0FRFZX Prudential Floating RatePairCorr
  1.0FRFCX Prudential Floating RatePairCorr
  0.98PGKZX Pgim Jennison TechnologyPairCorr
  0.96PGOAX Prudential Jennison SmallPairCorr
  0.96PGNAX Jennison Natural ResPairCorr
  0.78PGTOX Prudential Global TotalPairCorr
  0.84PHECX Prudential Global TotalPairCorr
  0.84PHEAX Prudential Global TotalPairCorr
  0.81TGMBX Prudential Porate BondPairCorr
  0.85PHEZX Prudential Global TotalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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