Prudential Jennison Correlations

PJIAX Fund

USD 23.34 0.04 0.17%

The current 90-days correlation between Prudential Jennison and Prudential Jennison Equity is 1.0 (i.e., No risk reduction). 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 Equity and DJI is 0.88 (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 Equity 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 Equity. 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

0.77	EMDCX	Prudential Emerging	Pair Corr
0.82	EMDAX	Prudential Emerging	Pair Corr
0.79	EMDZX	Prudential Emerging	Pair Corr
0.89	PGFCX	Pgim Conservative	Pair Corr
0.92	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.7	PGJAX	Prudential Jennison	Pair Corr
0.68	PGJCX	Prudential Jennison	Pair Corr
0.7	PGJZX	Prudential Jennison	Pair Corr
0.76	PGKZX	Pgim Jennison Technology	Pair Corr
0.76	PGOAX	Prudential Jennison Small	Pair Corr
0.84	PGNAX	Jennison Natural Res	Pair Corr
0.65	PGVZX	Prudential Government	Pair Corr
0.68	PHECX	Prudential Global Total	Pair Corr
0.72	PHEAX	Prudential Global Total	Pair Corr
0.74	PHEZX	Prudential Global Total	Pair Corr
0.74	PHICX	Prudential Muni High	Pair Corr
0.75	PHIZX	Prudential Muni High	Pair Corr
0.84	PHLAX	Prudential Health	Pair Corr
0.84	PHLCX	Prudential Health	Pair Corr
0.84	PHSZX	Prudential Health	Pair Corr
0.95	PIBAX	Prudential Balanced	Pair Corr
0.89	SUVCX	Prudential Qma Strategic	Pair Corr
0.9	SUVAX	Prudential Qma Strategic	Pair Corr
0.75	PIFCX	Prudential Short Term	Pair Corr

Related Correlations Analysis

	PJOQX	MEFIX	MCEMX	SWYLX	BULIX	PJIZX	MCEIX	HRVIX	HNVIX	SMAYX
PJOQX		0.83	0.83	0.93	0.59	0.93	0.83	-0.14	-0.13	0.24	PJOQX
MEFIX	0.83		1.0	0.87	0.78	0.88	1.0	-0.48	-0.47	0.11	MEFIX
MCEMX	0.83	1.0		0.87	0.78	0.88	1.0	-0.48	-0.48	0.11	MCEMX
SWYLX	0.93	0.87	0.87		0.66	0.91	0.87	-0.07	-0.06	0.42	SWYLX
BULIX	0.59	0.78	0.78	0.66		0.6	0.78	-0.44	-0.43	0.11	BULIX
PJIZX	0.93	0.88	0.88	0.91	0.6		0.88	-0.22	-0.21	0.19	PJIZX
MCEIX	0.83	1.0	1.0	0.87	0.78	0.88		-0.48	-0.48	0.11	MCEIX
HRVIX	-0.14	-0.48	-0.48	-0.07	-0.44	-0.22	-0.48		1.0	0.7	HRVIX
HNVIX	-0.13	-0.47	-0.48	-0.06	-0.43	-0.21	-0.48	1.0		0.7	HNVIX
SMAYX	0.24	0.11	0.11	0.42	0.11	0.19	0.11	0.7	0.7		SMAYX
	PJOQX	MEFIX	MCEMX	SWYLX	BULIX	PJIZX	MCEIX	HRVIX	HNVIX	SMAYX

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MCEMX	+ 1.0	MEFIX
MCEIX	+ 1.0	MEFIX
MCEIX	+ 1.0	MCEMX
HNVIX	+ 1.0	HRVIX
SWYLX	+ 0.93	PJOQX
PJIZX	+ 0.93	PJOQX

High negative correlations

HNVIX	- 0.48	MCEIX
HRVIX	- 0.48	MCEIX
HNVIX	- 0.48	MCEMX
HRVIX	- 0.48	MCEMX
HRVIX	- 0.48	MEFIX
HNVIX	- 0.47	MEFIX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PJOQX	0.53	0.03	0.03	0.11	0.62	(0.56)	1.17	(1.02)	3.38
MEFIX	0.77	0.15	0.12	0.26	0.90	(0.86)	1.47	(1.19)	5.23
MCEMX	0.78	0.15	0.12	0.26	0.89	(0.86)	1.52	(1.18)	5.25
SWYLX	0.24	0.01	(0.09)	0.09	0.23	(0.28)	0.55	(0.55)	1.45
BULIX	0.62	0.03	(0.02)	0.15	0.78	(0.63)	1.30	(1.19)	3.77
PJIZX	0.56	0.06	0.05	0.15	0.67	(0.59)	1.09	(1.09)	3.42
MCEIX	0.77	0.15	0.12	0.26	0.89	(0.86)	1.48	(1.12)	5.27
HRVIX	0.77	(0.10)	0.00	(0.02)	0.00	0.00	1.73	(1.50)	4.81
HNVIX	0.77	(0.10)	0.00	(0.02)	0.00	0.00	1.71	(1.50)	4.81
SMAYX	0.97	(0.06)	(0.02)	0.03	1.21	(1.01)	2.32	(2.08)	5.63

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC