Prudential Jennison Correlations

Mutual Funds . USA . 
Fund . Prudential Jennison Growth
PJGRX Fund  USD 49.51  0.05  0.10%   
The current 90-days correlation between Prudential Jennison and Prudential Jennison International is 0.78 (i.e., Poor 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 0.82 (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 metropolitan statistical area.

Moving together with Prudential Mutual Fund

  0.98PWJQX Prudential JennisonPairCorr
  0.97PWJRX Prudential JennisonPairCorr
  0.97PWJBX Pgim Jennison InternPairCorr
  0.98PWJDX Pgim Jennison InternPairCorr
  0.97HYSQX Prudential Short DurationPairCorr
  0.91EMDQX Prudential EmergingPairCorr
  0.99PFRIX Prudential Floating RatePairCorr
  0.97PFSQX Prudential JennisonPairCorr
  0.91PGJQX Prudential JennisonPairCorr
  1.0PGKCX Pgim Jennison TechnologyPairCorr
  1.0PGKAX Pgim Jennison TechnologyPairCorr
  1.0PGKRX Pgim Jennison TechnologyPairCorr
  0.9PGRQX Prudential Global RealPairCorr
  0.74PGTQX Prudential Global TotalPairCorr
  0.75PGTSX Prudential Global TotalPairCorr
  0.97SCFQX Pgim Securitized CreditPairCorr
  0.97SCFOX Pgim Securitized CreditPairCorr
  0.96SCFZX Pgim Securitized CreditPairCorr
  0.97SCFVX Pgim Securitized CreditPairCorr
  0.83PHEQX Prudential Global TotalPairCorr
  0.96PHYGX Pgim High YieldPairCorr
  0.95PHYQX Prudential High YieldPairCorr
  0.99SUVQX Prudential Qma StrategicPairCorr
  0.99PIBQX Prudential BalancedPairCorr
  0.98JSCRX Prudential Jennison SmallPairCorr
  0.88PIFEX Prudential Short TermPairCorr
  0.88PIFGX Prudential Short TermPairCorr
  0.89SDMQX Prudential Short DurationPairCorr
  0.98SDVRX Prudential Qma MidPairCorr
  0.99PJDQX Pgim Jennison RisingPairCorr
  1.0PJFPX Prudential JennisonPairCorr
  1.0PJFQX Prudential JennisonPairCorr
  1.0PJFOX Prudential JennisonPairCorr
  0.84PJEQX Prudential Real EstatePairCorr
  0.99PJERX Prudential JennisonPairCorr
  0.99PJIQX Prudential JennisonPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWJQX  0.68  0.14  0.12  0.35  0.43 
(0.76)
 1.86 
(1.19)
 4.45 
PWJRX  0.68  0.14  0.12  0.35  0.43 
(0.76)
 1.86 
(1.19)
 4.48 
PWJBX  0.68  0.14  0.12  0.35  0.41 
(0.77)
 1.86 
(1.20)
 4.49 
PWJDX  0.67  0.14  0.12  0.35  0.40 
(0.77)
 1.86 
(1.21)
 4.48 
HYSQX  0.14  0.05 (0.39) 0.61  0.00 
(0.23)
 0.37 
(0.12)
 0.95 
EMDQX  0.27  0.10 (0.09) 13.23  0.00 
(0.40)
 0.66 
(0.42)
 1.87 
PFRIX  0.10  0.06  0.00  1.03  0.00 
 0.00 
 0.46 
(0.11)
 0.68 
PFSQX  0.78  0.09  0.09  0.21  0.76 
(0.88)
 2.10 
(1.54)
 6.10 
PGJQX  0.52  0.08 (0.03) 0.54  0.54 
(0.57)
 1.08 
(0.90)
 3.22 
PGIQX  0.28  0.00 (0.33) 0.11  0.29 
(0.32)
 0.52 
(0.64)
 1.28 

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