Prudential Short-term Correlations

Mutual Funds USA . 
Fund . Prudential Short Term Porate
PIFZX Fund  USD 10.87  0.01  0.09%   
The current 90-days correlation between Prudential Short Term and Oklahoma Municipal Fund is 0.63 (i.e., Poor diversification). The correlation of Prudential Short-term 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.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Prudential Short Term Porate. 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

  0.94VBIRX Vanguard Short TermPairCorr
  0.94VFSUX Vanguard Short TermPairCorr
  0.99VFSIX Vanguard Short TermPairCorr
  0.99VFSTX Vanguard Short TermPairCorr
  0.98VBITX Vanguard Short TermPairCorr
  0.98VBISX Vanguard Short TermPairCorr
  0.93LALDX Lord Abbett ShortPairCorr
  0.95VSCSX Vanguard Short TermPairCorr
  0.91LDLAX Lord Abbett ShortPairCorr
  0.92LDLRX Lord Abbett ShortPairCorr
  0.69HLDIX Hartford EmergingPairCorr
  0.7HLDRX Hartford EmergingPairCorr
  0.7HLDAX Hartford EmergingPairCorr
  0.65HLDCX Hartford EmergingPairCorr
  0.69HLDTX Hartford EmergingPairCorr
  0.86GPICX Guidepath ConservativePairCorr
  0.71CAT CaterpillarPairCorr
  0.65WMT WalmartPairCorr
  0.62AXP American ExpressPairCorr
  0.71AA Alcoa CorpPairCorr
  0.7JNJ Johnson JohnsonPairCorr

Moving against Prudential Mutual Fund

  0.74VZ Verizon CommunicationsPairCorr
  0.69T ATT IncPairCorr
  0.63BA BoeingPairCorr
  0.6HD Home DepotPairCorr
  0.58CVX Chevron Corp Sell-off TrendPairCorr
  0.55PG Procter GamblePairCorr
  0.4HPQ HP Inc Earnings Call TomorrowPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Short-term 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 Short-term'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.

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