Prudential Jennison Correlations

PJSQX Fund

USD 25.18 0.03 0.12%

The current 90-days correlation between Prudential Jennison Small and Siit Small Cap is 0.96 (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 Small and DJI is 0.8 (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 Small 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 Small. 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 employment.

Moving together with Prudential Mutual Fund

0.61	PWJQX	Prudential Jennison	Pair Corr
0.61	PWJDX	Pgim Jennison Intern	Pair Corr
0.67	HYSQX	Prudential Short Duration	Pair Corr
0.61	EMDQX	Prudential Emerging	Pair Corr
0.64	PGIQX	Prudential Government	Pair Corr
0.62	PGKAX	Pgim Jennison Technology	Pair Corr
0.62	PGKRX	Pgim Jennison Technology	Pair Corr
0.75	PGRQX	Prudential Global Real	Pair Corr
0.61	SCFQX	Pgim Securitized Credit	Pair Corr
0.62	SCFOX	Pgim Securitized Credit	Pair Corr
0.64	SCFVX	Pgim Securitized Credit	Pair Corr
0.63	PHEQX	Prudential Global Total	Pair Corr
0.74	PHYGX	Pgim High Yield	Pair Corr
0.82	PHYQX	Prudential High Yield	Pair Corr
0.73	PIBQX	Prudential Balanced	Pair Corr
1.0	JSCRX	Prudential Jennison Small	Pair Corr
0.66	PIFEX	Prudential Short Term	Pair Corr
0.66	PIFGX	Prudential Short Term	Pair Corr
0.7	SDMQX	Prudential Short Duration	Pair Corr
0.9	SDVRX	Prudential Qma Mid	Pair Corr
0.81	PJEQX	Prudential Real Estate	Pair Corr

Related Correlations Analysis

	SECAX	GLVIX	FRMPX	KSCYX	QSERX	ASCGX	OWSMX	HRSCX
SECAX		0.76	0.81	0.58	0.95	0.85	0.88	0.74	SECAX
GLVIX	0.76		0.83	0.67	0.87	0.92	0.66	0.88	GLVIX
FRMPX	0.81	0.83		0.63	0.88	0.86	0.61	0.97	FRMPX
KSCYX	0.58	0.67	0.63		0.65	0.62	0.55	0.66	KSCYX
QSERX	0.95	0.87	0.88	0.65		0.96	0.76	0.86	QSERX
ASCGX	0.85	0.92	0.86	0.62	0.96		0.68	0.88	ASCGX
OWSMX	0.88	0.66	0.61	0.55	0.76	0.68		0.55	OWSMX
HRSCX	0.74	0.88	0.97	0.66	0.86	0.88	0.55		HRSCX
	SECAX	GLVIX	FRMPX	KSCYX	QSERX	ASCGX	OWSMX	HRSCX

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
SECAX	0.86	(0.06)	0.00	0.08	0.86	(0.99)	2.19	(1.60)	6.61
GLVIX	0.69	(0.03)	(0.02)	0.10	0.84	(0.72)	1.39	(1.22)	5.30
FRMPX	0.93	0.13	0.01	(13.40)	0.98	(0.99)	2.17	(1.68)	5.63
KSCYX	0.95	0.08	0.02	0.25	1.08	(1.00)	2.02	(1.84)	5.43
QSERX	0.96	(0.04)	0.04	0.10	0.94	(1.10)	2.69	(1.55)	6.90
ASCGX	1.21	(0.04)	0.03	0.10	1.46	(1.28)	3.08	(2.49)	7.81
OWSMX	0.53	(0.06)	(0.10)	0.06	0.60	(0.57)	1.26	(0.93)	4.39
HRSCX	0.90	0.14	0.01	(2.73)	0.86	(1.02)	2.30	(1.39)	5.72

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Prudential Jennison Correlations

Prudential Jennison Correlation With Market

Very poor diversification

Moving together with Prudential Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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