Prudential Emerging Correlations

Mutual Funds . USA . 
Fund . Prudential Emerging Markets
EMDCX Fund  USD 4.97  0.01  0.20%   
The current 90-days correlation between Prudential Emerging and Hunter Small Cap is 0.23 (i.e., Modest 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

Weak diversification

The correlation between Prudential Emerging Markets and DJI is 0.36 (i.e., Weak 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 persons.

Moving together with Prudential Mutual Fund

  0.8HYSZX Prudential Short DurationPairCorr
  0.76HYSAX Prudential Short DurationPairCorr
  0.76HYSCX Prudential Short DurationPairCorr
  0.98EMDAX Prudential EmergingPairCorr
  0.99EMDZX Prudential EmergingPairCorr
  0.66PGFEX Pgim Enhanced RetirementPairCorr
  0.74FRFZX Prudential Floating RatePairCorr
  0.69FRFCX Prudential Floating RatePairCorr
  0.66PGNAX Jennison Natural ResPairCorr
  0.68PHICX Prudential Muni HighPairCorr
  0.72PHIZX Prudential Muni HighPairCorr
  0.76PHLAX Prudential HealthPairCorr
  0.77PHSZX Prudential HealthPairCorr
  0.74PHYZX Prudential High YieldPairCorr
  0.75PHYEX Pgim High YieldPairCorr
  0.72PIBAX Prudential BalancedPairCorr
  0.76PIFCX Prudential Short TermPairCorr
  0.77PIFZX Prudential Short TermPairCorr

Moving against Prudential Mutual Fund

  0.51PWJCX Prudential JennisonPairCorr
  0.5PWJZX Prudential JennisonPairCorr
  0.5PWJAX Prudential JennisonPairCorr

Related Correlations Analysis


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

MAVKX
+ 0.89
HSCVX
CMPAX
+ 0.85
MAVKX
RYSVX
+ 0.84
MAVKX
RYSVX
+ 0.8
HSCVX
RYSVX
+ 0.78
DFUKX
RYSVX
+ 0.75
CMPAX
  

High negative correlations

KSCYX
- 0.47
HSCVX
KSCYX
- 0.4
MAVKX
RYSVX
- 0.26
KSCYX
KSCYX
- 0.23
CMPAX

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.

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