Prudential Global Correlations

Mutual Funds . USA . 
Fund . Prudential Global Total
PGTOX Fund  USD 5.38  0.02  0.37%   
The current 90-days correlation between Prudential Global Total and Prudential Jennison International is 0.29 (i.e., Modest diversification). The correlation of Prudential Global 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 Global Correlation With Market

Good diversification

The correlation between Prudential Global Total and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Global Total 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 Global Total. 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 persons.

Moving together with Prudential Mutual Fund

  0.81PWJZX Prudential JennisonPairCorr
  0.81PWJAX Prudential JennisonPairCorr
  0.79PWJCX Prudential JennisonPairCorr
  0.91HYSZX Prudential Short DurationPairCorr
  0.88HYSAX Prudential Short DurationPairCorr
  0.89HYSCX Prudential Short DurationPairCorr
  0.95EMDCX Prudential EmergingPairCorr
  0.93EMDAX Prudential EmergingPairCorr
  0.95EMDZX Prudential EmergingPairCorr
  0.76PFSZX Prudential FinancialPairCorr
  0.77PFSAX Prudential FinancialPairCorr
  0.89PGFCX Pgim ConservativePairCorr
  0.87PGFEX Pgim Enhanced RetirementPairCorr
  0.86PGJAX Prudential JennisonPairCorr
  0.86PGJCX Prudential JennisonPairCorr
  0.87PGJZX Prudential JennisonPairCorr
  0.81FRFZX Prudential Floating RatePairCorr
  0.81FRFAX Prudential Floating RatePairCorr
  0.81FRFCX Prudential Floating RatePairCorr
  0.82PGKZX Pgim Jennison TechnologyPairCorr
  0.76PGOAX Prudential Jennison SmallPairCorr
  0.9PGNAX Jennison Natural ResPairCorr
  0.76PGVZX Prudential GovernmentPairCorr
  0.88PHECX Prudential Global TotalPairCorr
  0.88PHEAX Prudential Global TotalPairCorr
  0.94TGMBX Prudential Porate BondPairCorr
  0.89PHEZX Prudential Global TotalPairCorr
  0.62PHIZX Prudential Muni HighPairCorr
  0.76PHLAX Prudential HealthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Global 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 Global'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWJZX  0.86  0.39  0.11 (1.81) 0.44 
(0.97)
 2.32 
(1.31)
 9.71 
PWJAX  0.86  0.39  0.11 (1.79) 0.44 
(0.97)
 2.33 
(1.31)
 9.74 
PWJCX  0.85  0.16  0.14  0.43  0.33 
(0.97)
 2.30 
(1.30)
 9.66 
HYSZX  0.13  0.05 (0.86) 1.19  0.00 
(0.23)
 0.37 
(0.12)
 0.98 
HYSAX  0.14  0.05 (0.58)(2.25) 0.00 
(0.22)
 0.37 
(0.12)
 0.86 
HYSCX  0.13  0.05 (0.56)(2.35) 0.00 
(0.21)
 0.37 
(0.12)
 0.86 
EMDCX  0.26  0.10 (0.27) 2.56  0.00 
(0.38)
 0.67 
(0.42)
 1.87 
EMDAX  0.31  0.10 (0.27)(2.98) 0.14 
(0.43)
 0.67 
(0.63)
 1.88 
EMDZX  0.27  0.10 (0.30) 2.61  0.00 
(0.38)
 0.66 
(0.42)
 1.87 
PFSZX  0.95  0.06  0.06  0.29  0.87 
(1.10)
 2.10 
(2.25)
 12.37 

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