Prudential Qma Correlations

Mutual Funds . USA . 
Fund . Prudential Qma Large Cap
PTMQX Fund  USD 23.14  0.03  0.13%   
The current 90-days correlation between Prudential Qma Large and Prudential Jennison International is 0.73 (i.e., Poor diversification). The correlation of Prudential Qma 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 Qma Correlation With Market

Almost no diversification

The correlation between Prudential Qma Large Cap and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Qma Large 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 Qma Large 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 producer price index.

Moving together with Prudential Mutual Fund

  0.97PWJQX Prudential JennisonPairCorr
  0.96PWJRX Prudential JennisonPairCorr
  0.96PWJBX Pgim Jennison InternPairCorr
  0.97PWJDX Pgim Jennison InternPairCorr
  0.97HYSQX Prudential Short DurationPairCorr
  0.92EMDQX Prudential EmergingPairCorr
  0.99PFRIX Prudential Floating RatePairCorr
  0.98PFSQX Prudential JennisonPairCorr
  0.9PGJQX Prudential JennisonPairCorr
  1.0PGKCX Pgim Jennison TechnologyPairCorr
  1.0PGKAX Pgim Jennison TechnologyPairCorr
  1.0PGKRX Pgim Jennison TechnologyPairCorr
  0.9PGRQX Prudential Global RealPairCorr
  0.75PGTQX Prudential Global TotalPairCorr
  0.76PGTSX Prudential Global TotalPairCorr
  0.97SCFQX Pgim Securitized CreditPairCorr
  0.97SCFOX Pgim Securitized CreditPairCorr
  0.97SCFZX Pgim Securitized CreditPairCorr
  0.97SCFVX Pgim Securitized CreditPairCorr
  0.84PHEQX Prudential Global TotalPairCorr
  0.97PHYGX Pgim High YieldPairCorr
  0.96PHYQX Prudential High YieldPairCorr
  0.99SUVQX Prudential Qma StrategicPairCorr
  1.0PIBQX Prudential BalancedPairCorr
  0.98JSCRX Prudential Jennison SmallPairCorr
  0.89PIFEX Prudential Short TermPairCorr
  0.88PIFGX Prudential Short TermPairCorr
  0.9SDMQX Prudential Short DurationPairCorr
  0.99SDVRX Prudential Qma MidPairCorr
  0.99PJDQX Pgim Jennison RisingPairCorr
  1.0PJFPX Prudential JennisonPairCorr
  1.0PJFQX Prudential JennisonPairCorr
  1.0PJFOX Prudential JennisonPairCorr
  0.83PJEQX Prudential Real EstatePairCorr
  0.99PJERX Prudential JennisonPairCorr
  0.98PJIQX 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 Qma 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 Qma'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  0.68  0.14  0.12  0.35  0.43 
(0.76)
 1.86 
(1.19)
 4.48 
PWJBX  0.68  0.14  0.12  0.35  0.41 
(0.77)
 1.86 
(1.20)
 4.49 
PWJDX  0.67  0.14  0.12  0.35  0.40 
(0.77)
 1.86 
(1.21)
 4.48 
HYSQX  0.14  0.05 (0.39) 0.61  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  1.03  0.00 
 0.00 
 0.46 
(0.11)
 0.68 
PFSQX  0.78  0.09  0.09  0.21  0.76 
(0.88)
 2.10 
(1.54)
 6.10 
PGJQX  0.52  0.08 (0.03) 0.54  0.54 
(0.57)
 1.08 
(0.90)
 3.22 
PGIQX  0.28  0.00 (0.33) 0.11  0.29 
(0.32)
 0.52 
(0.64)
 1.28 

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