Prudential Jennison Correlations

Mutual Funds . USA . 
Fund . Prudential Jennison Small
JSCRX Fund  USD 18.83  0.11  0.59%   
The current 90-days correlation between Prudential Jennison Small and Gmo Global Equity is -0.42 (i.e., Very good 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 Small and DJI is 0.87 (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 Small and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Prudential Jennison Small. 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 metropolitan statistical area.

Moving together with Prudential Mutual Fund

  0.93PWJQX Prudential JennisonPairCorr
  0.93PWJRX Prudential JennisonPairCorr
  0.93PWJBX Pgim Jennison InternPairCorr
  0.93PWJDX Pgim Jennison InternPairCorr
  0.94HYSQX Prudential Short DurationPairCorr
  0.88EMDQX Prudential EmergingPairCorr
  0.96PFRIX Prudential Floating RatePairCorr
  0.95PFSQX Prudential JennisonPairCorr
  0.84PGJQX Prudential JennisonPairCorr
  0.95PGKCX Pgim Jennison TechnologyPairCorr
  0.95PGKAX Pgim Jennison TechnologyPairCorr
  0.98PGKRX Pgim Jennison TechnologyPairCorr
  0.9PGRQX Prudential Global RealPairCorr
  0.71PGTQX Prudential Global TotalPairCorr
  0.72PGTSX Prudential Global TotalPairCorr
  0.93SCFQX Pgim Securitized CreditPairCorr
  0.94SCFOX Pgim Securitized CreditPairCorr
  0.93SCFZX Pgim Securitized CreditPairCorr
  0.95SCFVX Pgim Securitized CreditPairCorr
  0.82PHEQX Prudential Global TotalPairCorr
  0.7PHIQX Prudential Muni HighPairCorr
  0.93PHYGX Pgim High YieldPairCorr
  0.92PHYQX Prudential High YieldPairCorr
  0.99SUVQX Prudential Qma StrategicPairCorr
  0.97PIBQX Prudential BalancedPairCorr
  0.84PIFEX Prudential Short TermPairCorr
  0.84PIFGX Prudential Short TermPairCorr
  0.85SDMQX Prudential Short DurationPairCorr
  0.95SDVRX Prudential Qma MidPairCorr
  0.97PJDQX Pgim Jennison RisingPairCorr
  0.98PJFPX Prudential JennisonPairCorr
  0.98PJFQX Prudential JennisonPairCorr
  0.98PJFOX Prudential JennisonPairCorr
  0.88PJEQX Prudential Real EstatePairCorr
  0.92PJERX Prudential JennisonPairCorr
  0.96PJIQX Prudential JennisonPairCorr

Related Correlations Analysis

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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.

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