Prudential Government Correlations

PRICX Fund

USD 7.88 0.02 0.25%

The current 90-days correlation between Prudential Government and Morningstar Municipal Bond is -0.08 (i.e., Good diversification). The correlation of Prudential Government 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 Government Correlation With Market

Significant diversification

The correlation between Prudential Government Income and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Government Income 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 Government Income. 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

0.81	PGTOX	Prudential Global Total	Pair Corr
0.98	PGVZX	Prudential Government	Pair Corr
0.84	PHECX	Prudential Global Total	Pair Corr
0.85	TGMBX	Prudential Porate Bond	Pair Corr
0.73	PHLAX	Prudential Health	Pair Corr
0.73	PHSZX	Prudential Health	Pair Corr
0.82	PZTRX	Prudential Global Total	Pair Corr
0.73	PIFCX	Prudential Short Term	Pair Corr
0.72	PIFZX	Prudential Short Term	Pair Corr
0.7	SDMZX	Prudential Short Duration	Pair Corr
0.71	SDMCX	Prudential Short Duration	Pair Corr

Related Correlations Analysis

	MSTPX	BBINX	FCSCX	ATOAX	OWMBX	GCMVX	FKFSX
MSTPX		0.94	0.78	0.79	0.9	0.9	0.66	MSTPX
BBINX	0.94		0.91	0.94	0.98	0.99	0.7	BBINX
FCSCX	0.78	0.91		0.9	0.89	0.91	0.79	FCSCX
ATOAX	0.79	0.94	0.9		0.95	0.97	0.62	ATOAX
OWMBX	0.9	0.98	0.89	0.95		0.99	0.71	OWMBX
GCMVX	0.9	0.99	0.91	0.97	0.99		0.68	GCMVX
FKFSX	0.66	0.7	0.79	0.62	0.71	0.68		FKFSX
	MSTPX	BBINX	FCSCX	ATOAX	OWMBX	GCMVX	FKFSX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Government 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 Government'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
MSTPX	0.11	0.00	(0.64)	0.11	0.04	(0.16)	0.21	(0.21)	0.73
BBINX	0.11	0.01	(0.65)	0.85	0.00	(0.15)	0.30	(0.20)	0.70
FCSCX	0.06	0.00	(0.91)	0.99	0.00	(0.20)	0.13	(0.13)	0.53
ATOAX	0.02	0.00	0.00	0.83	0.00	0.00	0.00	0.00	0.30
OWMBX	0.08	0.02	(0.76)	1.53	0.00	(0.12)	0.18	(0.18)	0.44
GCMVX	0.08	0.02	(0.86)	1.29	0.00	(0.14)	0.20	(0.10)	0.51
FKFSX	0.25	0.00	(0.33)	0.11	0.26	(0.30)	0.60	(0.60)	1.41

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Prudential Government Correlations

Prudential Government Correlation With Market

Significant diversification

Moving together with Prudential Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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