Prudential Jennison Correlations

PGJZX Fund

USD 18.52 0.04 0.22%

The current 90-days correlation between Prudential Jennison and Virtus Select Mlp is 0.48 (i.e., Very weak diversification). The correlation of Prudential Jennison 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 Jennison Correlation With Market

Weak diversification

The correlation between Prudential Jennison Global and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Global 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 Jennison Global. 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

0.63	EMDAX	Prudential Emerging	Pair Corr
0.64	PGFCX	Pgim Conservative	Pair Corr
0.72	PGFEX	Pgim Enhanced Retirement	Pair Corr
1.0	PGJAX	Prudential Jennison Potential Growth	Pair Corr
0.99	PGJCX	Prudential Jennison	Pair Corr
0.73	PGKZX	Pgim Jennison Technology	Pair Corr
0.73	PGNAX	Jennison Natural Res	Pair Corr
0.65	PGVZX	Prudential Government	Pair Corr
0.64	PGVAX	Prudential Government	Pair Corr
0.63	PHECX	Prudential Global Total	Pair Corr
0.62	PHEAX	Prudential Global Total	Pair Corr
0.63	PHEZX	Prudential Global Total	Pair Corr
0.64	PHIZX	Prudential Muni High	Pair Corr
0.79	PHLAX	Prudential Health	Pair Corr
0.79	PHLCX	Prudential Health	Pair Corr
0.79	PHSZX	Prudential Health	Pair Corr
0.64	PIBAX	Prudential Balanced	Pair Corr
0.62	PIFCX	Prudential Short Term	Pair Corr

Moving against Prudential Mutual Fund

0.7	PFSZX	Prudential Financial	Pair Corr
0.64	PFSAX	Prudential Financial	Pair Corr

Related Correlations Analysis

	VLPAX	HDOGX	FQUAX	EMBOX	FLRAX	FLYCX	AGLOX	MMCFX	LOGBX	GTCIX
VLPAX		0.03	0.32	0.0	0.18	0.18	0.02	0.51	0.48	0.17	VLPAX
HDOGX	0.03		0.02	0.0	0.78	0.77	0.6	0.63	0.69	0.62	HDOGX
FQUAX	0.32	0.02		0.0	-0.06	-0.06	-0.28	-0.04	0.06	-0.02	FQUAX
EMBOX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	EMBOX
FLRAX	0.18	0.78	-0.06	0.0		1.0	0.61	0.88	0.81	0.77	FLRAX
FLYCX	0.18	0.77	-0.06	0.0	1.0		0.61	0.88	0.8	0.77	FLYCX
AGLOX	0.02	0.6	-0.28	0.0	0.61	0.61		0.5	0.56	0.75	AGLOX
MMCFX	0.51	0.63	-0.04	0.0	0.88	0.88	0.5		0.89	0.72	MMCFX
LOGBX	0.48	0.69	0.06	0.0	0.81	0.8	0.56	0.89		0.73	LOGBX
GTCIX	0.17	0.62	-0.02	0.0	0.77	0.77	0.75	0.72	0.73		GTCIX
	VLPAX	HDOGX	FQUAX	EMBOX	FLRAX	FLYCX	AGLOX	MMCFX	LOGBX	GTCIX

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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

FLYCX	+ 1.0	FLRAX
LOGBX	+ 0.89	MMCFX
MMCFX	+ 0.88	FLRAX
MMCFX	+ 0.88	FLYCX
LOGBX	+ 0.81	FLRAX
LOGBX	+ 0.8	FLYCX

High negative correlations

AGLOX	- 0.28	FQUAX
FLYCX	- 0.06	FQUAX
FLRAX	- 0.06	FQUAX
MMCFX	- 0.04	FQUAX
GTCIX	- 0.02	FQUAX
GTCIX	- 0.0	EMBOX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Jennison 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 Jennison'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
VLPAX	0.55	(0.09)	0.00	(0.17)	0.00	0.00	0.97	(1.17)	3.72
HDOGX	0.32	0.00	(0.18)	0.12	0.32	(0.35)	0.66	(0.72)	1.80
FQUAX	0.57	(0.12)	0.00	(0.02)	0.00	0.00	1.37	(1.20)	3.34
EMBOX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLRAX	0.54	0.13	(0.02)	(0.48)	0.72	(0.55)	1.38	(0.84)	4.45
FLYCX	0.54	0.12	(0.02)	(0.47)	0.72	(0.54)	1.37	(0.85)	4.45
AGLOX	0.44	0.14	0.04	54.61	0.40	(0.54)	1.07	(0.63)	3.93
MMCFX	1.16	0.28	0.07	(0.72)	1.61	(1.23)	2.45	(2.29)	10.17
LOGBX	0.35	0.01	(0.12)	0.13	0.36	(0.38)	0.80	(0.65)	3.11
GTCIX	0.45	0.05	(0.03)	0.26	0.40	(0.49)	0.96	(0.96)	2.57

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