Prudential Jennison Correlations

Mutual Funds USA . 
Fund . Prudential Jennison Growth
PJFQX Fund  USD 76.49  0.52  0.68%   
The current 90-days correlation between Prudential Jennison and Guidemark Large Cap is 0.56 (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.
  
Check out Your Equity Center to better understand how to build diversified portfolios. 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 producer price index.

Moving together with Prudential Mutual Fund

  0.99FAFGX American FundsPairCorr
  0.99FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99RGAEX Growth FundPairCorr
  0.9CIF Mfs Intermediate HighPairCorr
  0.91PCF Putnam High IncomePairCorr
  0.63JPM JPMorgan ChasePairCorr
  0.69IBM International BusinessPairCorr
  0.65CSCO Cisco SystemsPairCorr
  0.63CVX Chevron CorpPairCorr

Moving against Prudential Mutual Fund

  0.77XNBHX Neuberger Berman IntPairCorr
  0.75XDSMX Dreyfus StrategicPairCorr
  0.59MCD McDonaldsPairCorr
  0.57XNXJX Nuveen New JerseyPairCorr
  0.46XPPRX Voya Prime RatePairCorr

Related Correlations Analysis

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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.

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