Prudential Emerging Correlations

EMDAX Fund

USD 4.93 0.01 0.20%

The current 90-days correlation between Prudential Emerging and Semiconductor Ultrasector Profund is -0.12 (i.e., Good diversification). The correlation of Prudential Emerging 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 Emerging Correlation With Market

Good diversification

The correlation between Prudential Emerging Markets and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Prudential Emerging Markets. 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

0.77	HYSZX	Prudential Short Duration	Pair Corr
0.7	HYSAX	Prudential Short Duration	Pair Corr
0.67	HYSCX	Prudential Short Duration	Pair Corr
0.98	EMDCX	Prudential Emerging	Pair Corr
0.98	EMDZX	Prudential Emerging	Pair Corr
0.75	FRFZX	Prudential Floating Rate	Pair Corr
0.62	FRFCX	Prudential Floating Rate	Pair Corr
0.68	PHICX	Prudential Muni High	Pair Corr
0.69	PHIZX	Prudential Muni High	Pair Corr
0.76	PHLAX	Prudential Health	Pair Corr
0.76	PHLCX	Prudential Health	Pair Corr
0.69	PHYZX	Prudential High Yield	Pair Corr
0.7	PHYEX	Pgim High Yield	Pair Corr
0.61	PIBAX	Prudential Balanced	Pair Corr
0.79	SUVAX	Prudential Qma Strategic	Pair Corr
0.66	PIFCX	Prudential Short Term	Pair Corr
0.73	SDMZX	Prudential Short Duration	Pair Corr
0.86	SDMCX	Prudential Short Duration	Pair Corr

Moving against Prudential Mutual Fund

0.57	PWJCX	Prudential Jennison	Pair Corr
0.56	PWJZX	Prudential Jennison	Pair Corr
0.53	PWJAX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	SMPIX	SRDAX	AUXIX	TIMPX	LANIX	EICVX	PAEIX
SMPIX		-0.04	0.0	0.39	0.77	0.05	0.65	SMPIX
SRDAX	-0.04		0.23	0.12	0.13	0.52	0.21	SRDAX
AUXIX	0.0	0.23		0.16	0.48	0.78	0.49	AUXIX
TIMPX	0.39	0.12	0.16		0.37	0.06	0.48	TIMPX
LANIX	0.77	0.13	0.48	0.37		0.47	0.89	LANIX
EICVX	0.05	0.52	0.78	0.06	0.47		0.48	EICVX
PAEIX	0.65	0.21	0.49	0.48	0.89	0.48		PAEIX
	SMPIX	SRDAX	AUXIX	TIMPX	LANIX	EICVX	PAEIX

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

PAEIX	+ 0.89	LANIX
EICVX	+ 0.78	AUXIX
LANIX	+ 0.77	SMPIX
PAEIX	+ 0.65	SMPIX
EICVX	+ 0.52	SRDAX
PAEIX	+ 0.49	AUXIX

High negative correlations

SRDAX	- 0.04	SMPIX
AUXIX	- 0.0	SMPIX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Emerging 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 Emerging'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
SMPIX	2.37	(0.02)	0.01	0.05	3.37	(2.35)	4.70	(5.51)	14.63
SRDAX	0.15	0.02	(0.20)	(0.16)	0.12	(0.19)	0.28	(0.38)	0.94
AUXIX	0.46	0.04	(0.01)	0.24	0.42	(0.51)	1.05	(0.89)	2.29
TIMPX	0.15	0.00	(0.32)	0.00	0.13	(0.21)	0.33	(0.33)	0.98
LANIX	0.50	(0.02)	(0.04)	0.04	0.80	(0.47)	1.01	(1.21)	3.01
EICVX	0.67	0.13	0.12	1.02	0.44	(0.88)	1.36	(0.87)	8.80
PAEIX	0.64	(0.03)	(0.04)	0.03	0.89	(0.64)	1.21	(1.37)	4.20

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