Prudential Utility Correlations

PRUAX Fund

USD 17.40 0.13 0.75%

The current 90-days correlation between Prudential Utility and 1919 Financial Services is 0.26 (i.e., Modest diversification). The correlation of Prudential Utility 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 Utility Correlation With Market

Weak diversification

The correlation between Prudential Utility Fund and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Utility Fund 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 Utility Fund. 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

0.62	EMDAX	Prudential Emerging	Pair Corr
0.81	PGFCX	Pgim Conservative	Pair Corr
0.77	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.94	PGJAX	Prudential Jennison	Pair Corr
0.94	PGJCX	Prudential Jennison	Pair Corr
0.97	PGJZX	Prudential Jennison	Pair Corr
0.79	PGKZX	Pgim Jennison Technology	Pair Corr
0.89	PGNAX	Jennison Natural Res	Pair Corr
0.74	PGVZX	Prudential Government	Pair Corr
0.71	PGVAX	Prudential Government	Pair Corr
0.75	PHECX	Prudential Global Total	Pair Corr
0.74	PHEAX	Prudential Global Total	Pair Corr
0.75	PHEZX	Prudential Global Total	Pair Corr
0.72	PHICX	Prudential Muni High	Pair Corr
0.72	PHIZX	Prudential Muni High	Pair Corr
0.7	PHLAX	Prudential Health	Pair Corr
0.7	PHLCX	Prudential Health	Pair Corr
0.7	PHSZX	Prudential Health	Pair Corr
0.7	PIBAX	Prudential Balanced	Pair Corr
0.71	PIFCX	Prudential Short Term	Pair Corr

Moving against Prudential Mutual Fund

0.7	PFSZX	Prudential Financial	Pair Corr
0.69	PFSAX	Prudential Financial	Pair Corr
0.53	HYSCX	Prudential Short Duration	Pair Corr
0.41	FRFCX	Prudential Floating Rate	Pair Corr

Related Correlations Analysis

	SBFAX	MFHIX	MSVIX	ICFAX	XFINX	MCBXX	VFAIX
SBFAX		0.83	0.66	0.75	0.13	0.0	0.91	SBFAX
MFHIX	0.83		0.59	0.7	0.06	0.0	0.8	MFHIX
MSVIX	0.66	0.59		0.49	0.18	0.0	0.75	MSVIX
ICFAX	0.75	0.7	0.49		0.04	0.0	0.69	ICFAX
XFINX	0.13	0.06	0.18	0.04		0.0	0.22	XFINX
MCBXX	0.0	0.0	0.0	0.0	0.0		0.0	MCBXX
VFAIX	0.91	0.8	0.75	0.69	0.22	0.0		VFAIX
	SBFAX	MFHIX	MSVIX	ICFAX	XFINX	MCBXX	VFAIX

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

VFAIX	+ 0.91	SBFAX
MFHIX	+ 0.83	SBFAX
VFAIX	+ 0.8	MFHIX
ICFAX	+ 0.75	SBFAX
VFAIX	+ 0.75	MSVIX
ICFAX	+ 0.7	MFHIX

High negative correlations

VFAIX	- 0.0	MCBXX
MCBXX	- 0.0	XFINX
MCBXX	- 0.0	ICFAX
MCBXX	- 0.0	MSVIX
MCBXX	- 0.0	MFHIX
MCBXX	- 0.0	SBFAX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Utility 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 Utility'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
SBFAX	0.64	(0.14)	0.00	(0.08)	0.00	0.00	1.36	(1.77)	4.82
MFHIX	0.15	(0.04)	0.00	(0.24)	0.00	0.00	0.24	(0.48)	0.98
MSVIX	0.84	(0.06)	(0.04)	0.02	1.02	(0.93)	1.72	(1.56)	5.04
ICFAX	0.79	(0.25)	0.00	(0.30)	0.00	0.00	1.54	(1.63)	3.86
XFINX	0.14	0.00	(0.18)	0.00	0.24	(0.16)	0.29	(0.14)	1.44
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VFAIX	0.67	(0.08)	0.00	(0.02)	0.00	0.00	1.28	(1.73)	4.59

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