Prudential California Correlations

PBCAX Fund

USD 10.00 0.01 0.1%

The current 90-days correlation between Prudential California and Transamerica Asset Allocation is 0.23 (i.e., Modest diversification). The correlation of Prudential California 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 California Correlation With Market

Significant diversification

The correlation between Prudential California Muni and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential California Muni and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Prudential California 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

0.9	EMDCX	Prudential Emerging	Pair Corr
0.94	EMDAX	Prudential Emerging	Pair Corr
0.92	EMDZX	Prudential Emerging	Pair Corr
0.9	PGFCX	Pgim Conservative	Pair Corr
0.71	PGJAX	Prudential Jennison	Pair Corr
0.69	PGJCX	Prudential Jennison	Pair Corr
0.93	PHECX	Prudential Global Total	Pair Corr
0.94	PHEAX	Prudential Global Total	Pair Corr
0.94	PHEZX	Prudential Global Total	Pair Corr
0.99	PHICX	Prudential Muni High	Pair Corr
0.99	PHIZX	Prudential Muni High	Pair Corr
0.85	PHLCX	Prudential Health	Pair Corr
0.84	PHSZX	Prudential Health	Pair Corr
0.88	PIBAX	Prudential Balanced	Pair Corr
0.91	PIFCX	Prudential Short Term	Pair Corr
0.92	PIFZX	Prudential Short Term	Pair Corr
0.75	PJFZX	Prudential Jennison	Pair Corr
0.89	PJIAX	Prudential Jennison	Pair Corr
0.89	PJGZX	Prudential Jennison	Pair Corr
0.84	PNRCX	Jennison Natural Res	Pair Corr
0.88	PABFX	Prudential Balanced	Pair Corr
0.76	PRUZX	Prudential Utility	Pair Corr
0.82	PTEZX	Prudential Qma Large	Pair Corr

Moving against Prudential Mutual Fund

0.73

PFSZX

Prudential Financial

Pair Corr

Related Correlations Analysis

	TAAJX	SWSFX	NADCX	SGICX	REMVX	MFIRX	BBISX
TAAJX		0.72	0.98	0.63	0.87	0.9	0.85	TAAJX
SWSFX	0.72		0.8	0.6	0.9	0.84	0.86	SWSFX
NADCX	0.98	0.8		0.68	0.92	0.92	0.91	NADCX
SGICX	0.63	0.6	0.68		0.69	0.64	0.75	SGICX
REMVX	0.87	0.9	0.92	0.69		0.93	0.91	REMVX
MFIRX	0.9	0.84	0.92	0.64	0.93		0.86	MFIRX
BBISX	0.85	0.86	0.91	0.75	0.91	0.86		BBISX
	TAAJX	SWSFX	NADCX	SGICX	REMVX	MFIRX	BBISX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TAAJX	0.26	0.03	0.02	0.57	0.26	(0.30)	0.53	(0.52)	1.85
SWSFX	0.05	0.01	0.00	0.51	0.00	0.00	0.10	(0.10)	0.49
NADCX	0.25	0.03	0.03	0.75	0.22	(0.30)	0.51	(0.50)	1.71
SGICX	0.39	0.01	0.00	0.03	0.50	(0.42)	0.87	(0.92)	2.54
REMVX	0.65	0.12	0.12	0.20	0.71	(0.73)	1.38	(0.83)	4.64
MFIRX	0.11	0.03	0.04	0.94	0.00	(0.23)	0.37	(0.19)	0.57
BBISX	0.52	0.06	0.06	(31.90)	0.60	(0.57)	1.11	(1.27)	3.29

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