Prudential Floating Correlations

Mutual Funds . USA . 
Fund . Prudential Floating Rate
FRFZX Fund  USD 9.09  0.01  0.11%   
The current 90-days correlation between Prudential Floating Rate and Prudential Total Return is 0.25 (i.e., Modest 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

Weak diversification

The correlation between Prudential Floating Rate and DJI is 0.3 (i.e., Weak 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

  0.85PWJZX Prudential JennisonPairCorr
  0.85PWJAX Prudential JennisonPairCorr
  0.94PWJCX Prudential JennisonPairCorr
  0.65HYSZX Prudential Short DurationPairCorr
  0.97HYSAX Prudential Short DurationPairCorr
  0.96HYSCX Prudential Short DurationPairCorr
  0.92EMDCX Prudential EmergingPairCorr
  0.92EMDAX Prudential EmergingPairCorr
  0.92EMDZX Prudential EmergingPairCorr
  0.77PFSZX Prudential FinancialPairCorr
  0.63PFSAX Prudential FinancialPairCorr
  0.63PGFCX Pgim ConservativePairCorr
  0.64PGFEX Pgim Enhanced RetirementPairCorr
  0.89PGJAX Prudential JennisonPairCorr
  0.78PGJZX Prudential JennisonPairCorr
  1.0FRFAX Prudential Floating RatePairCorr
  1.0FRFCX Prudential Floating RatePairCorr
  0.98PGKZX Pgim Jennison TechnologyPairCorr
  0.63PGOAX Prudential Jennison SmallPairCorr
  0.94PGNAX Jennison Natural ResPairCorr
  0.69PGTOX Prudential Global TotalPairCorr
  0.78PHECX Prudential Global TotalPairCorr
  0.79PHEAX Prudential Global TotalPairCorr
  0.77TGMBX Prudential Porate BondPairCorr

Related Correlations Analysis

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