Prudential Absolute Correlations

PADZX Fund

USD 9.16 0.01 0.11%

The current 90-days correlation between Prudential Absolute and Cohen Steers Real is 0.17 (i.e., Average diversification). The correlation of Prudential Absolute 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 Absolute Correlation With Market

Modest diversification

The correlation between Prudential Absolute Return and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Absolute Return and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Prudential Absolute Return. 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

0.66	BSIKX	Blackrock Strategic	Pair Corr
0.65	BSICX	Blackrock Strategic Opps	Pair Corr
0.65	BASIX	Blackrock Strategic Opps	Pair Corr
0.64	BSIIX	Blackrock Strategic	Pair Corr
0.66	JSORX	Jpmorgan Strategic Income	Pair Corr
0.65	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.65	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.63	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.63	CPAYX	Columbia Pacific/asia	Pair Corr
0.75	CCCZX	Center St Brookfield	Pair Corr
0.66	MAUKX	Pioneer Multi Asset	Pair Corr
0.67	CVX	Chevron Corp Earnings Call This Week	Pair Corr

Moving against Prudential Mutual Fund

0.47

TRV

The Travelers Companies

Pair Corr

Related Correlations Analysis

	CREFX	PJEAX	DFREX	SEIRX	REPIX	FORFX
CREFX		0.78	0.82	0.97	0.79	0.82	CREFX
PJEAX	0.78		0.95	0.79	0.91	0.71	PJEAX
DFREX	0.82	0.95		0.82	0.98	0.71	DFREX
SEIRX	0.97	0.79	0.82		0.79	0.71	SEIRX
REPIX	0.79	0.91	0.98	0.79		0.61	REPIX
FORFX	0.82	0.71	0.71	0.71	0.61		FORFX
	CREFX	PJEAX	DFREX	SEIRX	REPIX	FORFX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Absolute 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 Absolute'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
CREFX	0.56	(0.01)	(0.13)	0.21	0.64	(0.61)	1.69	(1.14)	4.34
PJEAX	0.60	0.10	(0.13)	(3.84)	0.84	(0.62)	1.53	(1.31)	4.69
DFREX	0.59	0.08	(0.16)	(4.11)	0.84	(0.65)	1.66	(1.34)	4.39
SEIRX	0.58	(0.04)	(0.13)	0.17	0.73	(0.61)	1.72	(1.19)	4.47
REPIX	0.91	0.13	(0.07)	(3.17)	1.30	(0.92)	2.43	(1.97)	7.05
FORFX	0.06	0.04	0.00	2.30	0.00	0.00	0.11	0.00	0.41

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