Prudential Jennison Correlations

Mutual Funds . USA . 
Fund . Prudential Jennison Small Cap
PQJCX Fund  USD 13.73  0.10  0.72%   
The current 90-days correlation between Prudential Jennison and Prudential Jennison International is 0.69 (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 Small Cap and DJI is 0.85 (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 Cap 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 Cap. 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 main economic indicators.

Moving together with Prudential Mutual Fund

  0.97PWJQX Prudential JennisonPairCorr
  0.73PWJRX Prudential JennisonPairCorr
  0.73PWJBX Pgim Jennison InternPairCorr
  0.73PWJDX Pgim Jennison InternPairCorr
  0.65HYSQX Prudential Short DurationPairCorr
  0.85EMDQX Prudential EmergingPairCorr
  0.68PFRIX Prudential Floating RatePairCorr
  0.96PFSQX Prudential JennisonPairCorr
  0.85PGJQX Prudential JennisonPairCorr
  0.97PGKCX Pgim Jennison TechnologyPairCorr
  0.68PGKAX Pgim Jennison TechnologyPairCorr
  0.69PGKRX Pgim Jennison TechnologyPairCorr
  0.91PGRQX Prudential Global RealPairCorr
  0.69PGTSX Prudential Global TotalPairCorr
  0.93SCFQX Pgim Securitized CreditPairCorr
  0.93SCFOX Pgim Securitized CreditPairCorr
  0.93SCFVX Pgim Securitized CreditPairCorr
  0.77PHEQX Prudential Global TotalPairCorr
  0.62PHIQX Prudential Muni HighPairCorr
  0.62PHYGX Pgim High YieldPairCorr
  0.9PHYQX Prudential High YieldPairCorr
  0.98SUVQX Prudential Qma StrategicPairCorr
  0.94PIBQX Prudential BalancedPairCorr
  1.0JSCRX Prudential Jennison SmallPairCorr
  0.8PIFEX Prudential Short TermPairCorr
  0.8PIFGX Prudential Short TermPairCorr
  0.83SDMQX Prudential Short DurationPairCorr
  0.7SDVRX Prudential Qma MidPairCorr
  0.96PJDQX Pgim Jennison RisingPairCorr
  0.98PJFPX Prudential JennisonPairCorr
  0.98PJFQX Prudential JennisonPairCorr
  0.71PJFOX Prudential JennisonPairCorr
  0.89PJEQX Prudential Real EstatePairCorr
  0.96PJERX Prudential JennisonPairCorr
  0.96PJIQX 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  0.67  0.25  0.15 (6.51) 0.30 
(0.76)
 1.86 
(1.19)
 4.48 
PWJBX  0.67  0.26  0.16 (4.71) 0.27 
(0.78)
 1.86 
(1.20)
 4.49 
PWJDX  0.67  0.17  0.16  0.41  0.28 
(0.78)
 1.86 
(1.21)
 4.48 
HYSQX  0.13  0.05 (0.46) 1.88  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  1.65  0.00 
 0.00 
 0.46 
 0.00 
 0.68 
PFSQX  0.79  0.27  0.11 (2.09) 0.74 
(0.89)
 2.10 
(1.54)
 6.10 
PGJQX  0.54  0.13 (0.01)(2.04) 0.51 
(0.60)
 1.19 
(0.90)
 3.22 
PGIQX  0.27  0.02 (0.32)(0.83) 0.26 
(0.32)
 0.52 
(0.51)
 1.28 

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