Prudential Floating Correlations

PFRIX Fund

USD 8.97 0.01 0.11%

The current 90-days correlation between Prudential Floating Rate and Small Midcap Dividend Income is 0.13 (i.e., Average 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

Average diversification

The correlation between Prudential Floating Rate and DJI is 0.14 (i.e., Average 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 Your Equity Center 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 various price indices.

Moving together with Prudential Mutual Fund

0.72	OOSYX	Oppenheimer Senior	Pair Corr
0.74	OOSIX	Oppenheimer Senior	Pair Corr
0.71	LFRIX	Floating Rate	Pair Corr
0.7	LARCX	Floating Rate	Pair Corr
0.72	LFRRX	Lord Abbett Inv	Pair Corr
0.72	LFRFX	Floating Rate	Pair Corr
0.71	LRRRX	Floating Rate	Pair Corr
0.73	LRRTX	Floating Rate	Pair Corr
0.73	LRRVX	Floating Rate	Pair Corr
0.77	LRRKX	Floating Rate	Pair Corr

Moving against Prudential Mutual Fund

0.39	BA	Boeing	Pair Corr
0.36	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	PMDDX	LMBMX	FCSGX	QUAZX	GLVIX	NESGX
PMDDX		0.39	0.37	0.49	0.16	-0.02	PMDDX
LMBMX	0.39		0.78	0.85	0.84	0.78	LMBMX
FCSGX	0.37	0.78		0.73	0.75	0.66	FCSGX
QUAZX	0.49	0.85	0.73		0.77	0.77	QUAZX
GLVIX	0.16	0.84	0.75	0.77		0.79	GLVIX
NESGX	-0.02	0.78	0.66	0.77	0.79		NESGX
	PMDDX	LMBMX	FCSGX	QUAZX	GLVIX	NESGX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

QUAZX	+ 0.85	LMBMX
GLVIX	+ 0.84	LMBMX
NESGX	+ 0.79	GLVIX
FCSGX	+ 0.78	LMBMX
NESGX	+ 0.78	LMBMX
GLVIX	+ 0.77	QUAZX

High negative correlations

NESGX

- 0.02

PMDDX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PMDDX	0.65	(0.04)	0.00	(0.03)	0.00	0.00	1.62	(1.17)	4.29
LMBMX	0.91	0.02	0.02	0.04	1.14	(0.97)	2.19	(1.89)	5.49
FCSGX	0.86	0.04	0.03	0.05	1.14	(0.83)	1.90	(1.77)	5.67
QUAZX	1.11	(0.02)	(0.01)	0.01	1.60	(1.03)	2.51	(2.40)	7.27
GLVIX	0.78	0.01	0.01	0.03	1.05	(0.76)	1.46	(1.72)	4.40
NESGX	1.55	(0.05)	0.00	(0.01)	0.00	0.00	3.08	(3.84)	10.97

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