Prudential Financial Correlations

PSSRX Fund

USD 24.90 0.30 1.22%

The current 90-days correlation between Prudential Financial and Locorr Strategic Allocation is 0.45 (i.e., Very weak diversification). The correlation of Prudential Financial 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 Financial Correlation With Market

Very good diversification

The correlation between Prudential Financial Services and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Financial Services 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 Financial Services. 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 metropolitan statistical area.

For more information on how to buy Prudential Mutual Fund please use our How to Invest in Prudential Financial guide.

Moving together with Prudential Mutual Fund

0.97	PWJQX	Prudential Jennison	Pair Corr
0.97	PWJRX	Prudential Jennison	Pair Corr
0.73	PWJBX	Pgim Jennison Intern	Pair Corr
0.73	PWJDX	Pgim Jennison Intern	Pair Corr
0.93	HYSQX	Prudential Short Duration	Pair Corr
0.89	EMDQX	Prudential Emerging	Pair Corr
0.82	PFRIX	Prudential Floating Rate	Pair Corr
0.85	PFSQX	Prudential Jennison	Pair Corr
0.68	PGJQX	Prudential Jennison	Pair Corr
0.97	PGKCX	Pgim Jennison Technology	Pair Corr
0.74	PGKRX	Pgim Jennison Technology	Pair Corr
0.77	PGRQX	Prudential Global Real	Pair Corr
0.77	SCFQX	Pgim Securitized Credit	Pair Corr
0.79	SCFOX	Pgim Securitized Credit	Pair Corr
0.77	SCFZX	Pgim Securitized Credit	Pair Corr
0.8	SCFVX	Pgim Securitized Credit	Pair Corr
0.65	PHEQX	Prudential Global Total	Pair Corr
0.81	PIBQX	Prudential Balanced	Pair Corr
0.86	JSCRX	Prudential Jennison Small	Pair Corr
0.68	PIFGX	Prudential Short Term	Pair Corr
0.71	SDMQX	Prudential Short Duration	Pair Corr
0.84	PJDQX	Pgim Jennison Rising	Pair Corr
0.75	PJFPX	Prudential Jennison	Pair Corr
0.75	PJFQX	Prudential Jennison	Pair Corr
0.75	PJFOX	Prudential Jennison	Pair Corr
0.81	PJERX	Prudential Jennison	Pair Corr
0.81	PJIQX	Prudential Jennison	Pair Corr
0.75	PJGRX	Prudential Jennison	Pair Corr
0.86	PJORX	Prudential Jennison	Pair Corr
0.96	PJOQX	Prudential Jennison	Pair Corr
0.86	PJSQX	Prudential Jennison Small	Pair Corr
0.87	PJVQX	Prudential Jennison Value	Pair Corr
0.79	JDERX	Prudential Jennison Mid	Pair Corr
0.7	JDTRX	Prudential Short Term	Pair Corr

Related Correlations Analysis

	LSAAX	PBLIX	GPAFX	GFFFX	JAAIX	TAAKX
LSAAX		-0.06	-0.01	-0.02	-0.01	-0.01	LSAAX
PBLIX	-0.06		0.79	0.99	0.84	0.84	PBLIX
GPAFX	-0.01	0.79		0.75	0.97	0.98	GPAFX
GFFFX	-0.02	0.99	0.75		0.81	0.82	GFFFX
JAAIX	-0.01	0.84	0.97	0.81		0.99	JAAIX
TAAKX	-0.01	0.84	0.98	0.82	0.99		TAAKX
	LSAAX	PBLIX	GPAFX	GFFFX	JAAIX	TAAKX

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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

GFFFX	+ 0.99	PBLIX
TAAKX	+ 0.99	JAAIX
TAAKX	+ 0.98	GPAFX
JAAIX	+ 0.97	GPAFX
JAAIX	+ 0.84	PBLIX
TAAKX	+ 0.84	PBLIX

High negative correlations

PBLIX	- 0.06	LSAAX
GFFFX	- 0.02	LSAAX
TAAKX	- 0.01	LSAAX
JAAIX	- 0.01	LSAAX
GPAFX	- 0.01	LSAAX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Financial 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 Financial'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
LSAAX	0.32	0.14	0.07	(4.00)	0.00	(0.43)	1.01	(0.63)	2.49
PBLIX	0.83	0.07	0.03	0.18	1.42	(0.82)	1.90	(1.39)	10.31
GPAFX	0.71	0.26	0.15	(1.20)	0.54	(0.84)	1.74	(1.23)	7.38
GFFFX	1.14	0.15	0.08	0.23	1.70	(1.10)	2.55	(2.44)	14.47
JAAIX	0.17	0.10	(0.03)	(1.95)	0.00	(0.24)	0.38	(0.19)	2.40
TAAKX	0.80	0.40	0.23	(1.83)	0.53	(1.00)	2.05	(1.41)	11.56

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