Prudential Jennison Correlations

Mutual Funds . USA . 
Fund . Prudential Jennison Growth
PJFZX Fund  USD 75.67  0.29  0.38%   
The current 90-days correlation between Prudential Jennison and Prudential Balanced Fund is 0.93 (i.e., Almost no 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

Very poor diversification

The correlation between Prudential Jennison Growth and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Growth 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 Growth. 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

  0.98PWJZX Prudential JennisonPairCorr
  0.98PWJAX Prudential JennisonPairCorr
  0.97PWJCX Prudential JennisonPairCorr
  0.97HYSZX Prudential Short DurationPairCorr
  0.97HYSAX Prudential Short DurationPairCorr
  0.96HYSCX Prudential Short DurationPairCorr
  0.92EMDAX Prudential EmergingPairCorr
  0.91EMDZX Prudential EmergingPairCorr
  0.97PFSZX Prudential FinancialPairCorr
  0.97PFSAX Prudential FinancialPairCorr
  0.97PGFCX Pgim ConservativePairCorr
  0.91PGJAX Prudential JennisonPairCorr
  0.9PGJCX Prudential JennisonPairCorr
  0.91PGJZX Prudential JennisonPairCorr
  0.99FRFZX Prudential Floating RatePairCorr
  0.98FRFAX Prudential Floating RatePairCorr
  0.99FRFCX Prudential Floating RatePairCorr
  1.0PGKZX Pgim Jennison TechnologyPairCorr
  0.95PGNAX Jennison Natural ResPairCorr
  0.75PGTOX Prudential Global TotalPairCorr
  0.82PHECX Prudential Global TotalPairCorr
  0.82PHEAX Prudential Global TotalPairCorr
  0.78TGMBX Prudential Porate BondPairCorr
  0.95PHYZX Prudential High YieldPairCorr
  0.96PHYEX Pgim High YieldPairCorr
  0.75PZTRX Prudential Global TotalPairCorr
  0.99PIBAX Prudential BalancedPairCorr
  0.88PIFCX Prudential Short TermPairCorr
  0.88PIFZX Prudential Short TermPairCorr
  0.89SDMZX Prudential Short DurationPairCorr

Related Correlations Analysis

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