Prudential Jennison Correlations

Mutual Funds . USA . 
Fund . Prudential Jennison Servative
TBDAX Fund  USD 20.35  0.02  0.1%   
The current 90-days correlation between Prudential Jennison and Prudential Jennison International is 0.01 (i.e., Significant 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 Servative and DJI is 0.82 (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 Servative and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Prudential Jennison Servative. 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

  0.97PWJZX Prudential JennisonPairCorr
  0.97PWJAX Prudential JennisonPairCorr
  0.97PWJCX Prudential JennisonPairCorr
  0.97HYSZX Prudential Short DurationPairCorr
  0.96HYSAX Prudential Short DurationPairCorr
  0.96HYSCX Prudential Short DurationPairCorr
  0.92EMDAX Prudential EmergingPairCorr
  0.92EMDZX Prudential EmergingPairCorr
  0.97PFSZX Prudential FinancialPairCorr
  0.97PFSAX Prudential FinancialPairCorr
  0.96PGFCX Pgim ConservativePairCorr
  0.89PGJAX Prudential JennisonPairCorr
  0.89PGJCX Prudential JennisonPairCorr
  0.91PGJZX Prudential JennisonPairCorr
  0.98FRFZX Prudential Floating RatePairCorr
  0.98FRFAX Prudential Floating RatePairCorr
  0.98FRFCX Prudential Floating RatePairCorr
  0.99PGKZX Pgim Jennison TechnologyPairCorr
  0.95PGNAX Jennison Natural ResPairCorr
  0.75PGTOX Prudential Global TotalPairCorr
  0.82PHECX Prudential Global TotalPairCorr
  0.83PHEAX Prudential Global TotalPairCorr
  0.79TGMBX Prudential Porate BondPairCorr
  0.95PHYZX Prudential High YieldPairCorr
  0.96PHYEX Pgim High YieldPairCorr
  0.75PZTRX Prudential Global TotalPairCorr
  0.98PIBAX Prudential BalancedPairCorr
  0.88PIFCX Prudential Short TermPairCorr
  0.89PIFZX Prudential Short TermPairCorr
  0.89SDMZX Prudential Short DurationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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
PWJZX  0.68  0.25  0.14 (4.84) 0.39 
(0.76)
 1.87 
(1.19)
 4.47 
PWJAX  0.68  0.25  0.14 (4.84) 0.39 
(0.76)
 1.88 
(1.19)
 4.47 
PWJCX  0.68  0.14  0.11  0.35  0.42 
(0.76)
 1.85 
(1.19)
 4.43 
HYSZX  0.13  0.04 (0.37) 0.58  0.00 
(0.22)
 0.37 
(0.12)
 0.84 
HYSAX  0.14  0.07 (0.33)(3.25) 0.00 
(0.23)
 0.37 
(0.12)
 0.99 
HYSCX  0.13  0.06 (0.35)(2.68) 0.00 
(0.22)
 0.37 
(0.12)
 0.86 
EMDCX  0.25  0.10 (0.07) 2.70  0.00 
(0.39)
 0.67 
(0.42)
 1.88 
EMDAX  0.29  0.10 (0.08) 2.03  0.00 
(0.43)
 0.68 
(0.42)
 1.89 
EMDZX  0.26  0.10 (0.06) 3.14  0.00 
(0.39)
 0.67 
(0.42)
 1.87 
PFSZX  0.78  0.09  0.09  0.21  0.77 
(0.88)
 2.06 
(1.54)
 6.15 

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