Prudential Emerging Correlations

EMDQX Fund

USD 4.95 0.01 0.20%

The current 90-days correlation between Prudential Emerging and T Rowe Price is 0.4 (i.e., Very weak 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 producer price index.

Moving together with Prudential Mutual Fund

0.61	PGIQX	Prudential Government	Pair Corr
0.76	SCFQX	Pgim Securitized Credit	Pair Corr
0.77	SCFOX	Pgim Securitized Credit	Pair Corr
0.77	SCFZX	Pgim Securitized Credit	Pair Corr
0.76	SCFVX	Pgim Securitized Credit	Pair Corr
0.83	PHIQX	Prudential Muni High	Pair Corr
0.75	PHLQX	Prudential Health	Pair Corr
0.75	SUVQX	Prudential Qma Strategic	Pair Corr
0.69	PIBQX	Prudential Balanced	Pair Corr
0.74	PIFGX	Prudential Short Term	Pair Corr
0.78	SDMQX	Prudential Short Duration	Pair Corr
0.76	PJDQX	Pgim Jennison Rising	Pair Corr
0.75	PJHRX	Prudential Health	Pair Corr
0.76	PJOQX	Prudential Jennison	Pair Corr
0.76	PJRQX	Prudential Qma Intl	Pair Corr
0.7	JDTRX	Prudential Short Term	Pair Corr

Moving against Prudential Mutual Fund

0.5	PWJRX	Prudential Jennison	Pair Corr
0.5	PWJBX	Pgim Jennison Intern	Pair Corr
0.49	PWJQX	Prudential Jennison	Pair Corr
0.49	PWJDX	Pgim Jennison Intern	Pair Corr
0.43	PJGQX	Prudential Jennison Mid	Pair Corr
0.46	JDERX	Prudential Jennison Mid	Pair Corr

Related Correlations Analysis

	PRFHX	OPTCX	BOSVX	PCMNX	REMVX	PRSAX	USMIX
PRFHX		0.53	-0.04	0.97	0.9	0.92	-0.02	PRFHX
OPTCX	0.53		0.58	0.63	0.74	0.55	0.62	OPTCX
BOSVX	-0.04	0.58		0.11	0.18	-0.03	0.53	BOSVX
PCMNX	0.97	0.63	0.11		0.92	0.91	0.07	PCMNX
REMVX	0.9	0.74	0.18	0.92		0.9	0.19	REMVX
PRSAX	0.92	0.55	-0.03	0.91	0.9		0.03	PRSAX
USMIX	-0.02	0.62	0.53	0.07	0.19	0.03		USMIX
	PRFHX	OPTCX	BOSVX	PCMNX	REMVX	PRSAX	USMIX

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

PCMNX	+ 0.97	PRFHX
PRSAX	+ 0.92	PRFHX
REMVX	+ 0.92	PCMNX
PRSAX	+ 0.91	PCMNX
REMVX	+ 0.9	PRFHX
PRSAX	+ 0.9	REMVX

High negative correlations

BOSVX	- 0.04	PRFHX
PRSAX	- 0.03	BOSVX
USMIX	- 0.02	PRFHX

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
PRFHX	0.12	0.03	(0.18)	4.46	0.00	(0.19)	0.36	(0.18)	1.00
OPTCX	0.17	0.01	(0.19)	0.31	0.08	(0.23)	0.41	(0.30)	1.01
BOSVX	0.89	(0.01)	0.00	0.05	1.03	(0.99)	2.03	(1.84)	5.29
PCMNX	0.07	0.02	(0.32)	1.54	0.00	(0.11)	0.16	(0.08)	0.49
REMVX	0.63	0.12	0.10	0.23	0.70	(0.73)	1.38	(0.83)	4.64
PRSAX	0.07	0.01	(0.48)	(0.56)	0.00	(0.14)	0.10	(0.10)	0.69
USMIX	0.82	0.04	(0.01)	0.35	1.06	(0.83)	1.82	(1.72)	4.82

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