Prudential Floating Correlations

Mutual Funds USA . 
Fund . Prudential Floating Rate
FRFZX Fund  USD 9.09  0.01  0.11%   
The current 90-days correlation between Prudential Floating Rate and Prudential Total Return is 0.28 (i.e., Modest diversification). The correlation of Prudential Floating 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 Floating Correlation With Market

Weak diversification

The correlation between Prudential Floating Rate and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Floating Rate 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 Floating Rate. 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

  0.95PWJZX Prudential JennisonPairCorr
  0.95PWJAX Prudential JennisonPairCorr
  0.95PWJCX Prudential JennisonPairCorr
  0.97HYSZX Prudential Short DurationPairCorr
  0.98HYSAX Prudential Short DurationPairCorr
  0.97HYSCX Prudential Short DurationPairCorr
  0.94EMDCX Prudential EmergingPairCorr
  0.94EMDAX Prudential EmergingPairCorr
  0.94EMDZX Prudential EmergingPairCorr
  0.95PFSZX Prudential FinancialPairCorr
  0.95PFSAX Prudential FinancialPairCorr
  0.97PGFCX Pgim ConservativePairCorr
  0.98PGFEX Pgim Enhanced RetirementPairCorr
  0.92PGJAX Prudential JennisonPairCorr
  0.91PGJCX Prudential JennisonPairCorr
  0.92PGJZX Prudential JennisonPairCorr
  1.0FRFAX Prudential Floating RatePairCorr
  1.0FRFCX Prudential Floating RatePairCorr
  0.98PGKZX Pgim Jennison TechnologyPairCorr
  0.96PGOAX Prudential Jennison SmallPairCorr
  0.96PGNAX Jennison Natural ResPairCorr
  0.78PGTOX Prudential Global TotalPairCorr
  0.83PHECX Prudential Global TotalPairCorr
  0.83PHEAX Prudential Global TotalPairCorr
  0.79TGMBX Prudential Porate BondPairCorr
  0.84PHEZX Prudential Global TotalPairCorr

Related Correlations Analysis

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