Prudential Jennison Correlations

Mutual Funds . USA . 
Fund . Prudential Jennison Emerging
PDEZX Fund  USD 19.25  0.09  0.47%   
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 weak diversification

The correlation between Prudential Jennison Emerging and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Emerging 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 Jennison Emerging. 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
  0.96PWJCX Prudential JennisonPairCorr
  0.94HYSZX Prudential Short DurationPairCorr
  0.94HYSAX Prudential Short DurationPairCorr
  0.94HYSCX Prudential Short DurationPairCorr
  0.89EMDCX Prudential EmergingPairCorr
  0.89EMDAX Prudential EmergingPairCorr
  0.88EMDZX Prudential EmergingPairCorr
  0.95PFSZX Prudential FinancialPairCorr
  0.95PFSAX Prudential FinancialPairCorr
  0.93PGFCX Pgim ConservativePairCorr
  0.96PGFEX Pgim Enhanced RetirementPairCorr
  0.87PGJAX Prudential JennisonPairCorr
  0.87PGJCX Prudential JennisonPairCorr
  0.88PGJZX Prudential JennisonPairCorr
  0.95FRFZX Prudential Floating RatePairCorr
  0.94FRFAX Prudential Floating RatePairCorr
  0.95FRFCX Prudential Floating RatePairCorr
  0.96PGKZX Pgim Jennison TechnologyPairCorr
  0.95PGOAX Prudential Jennison SmallPairCorr
  0.91PGNAX Jennison Natural ResPairCorr
  0.71PGTOX Prudential Global TotalPairCorr
  0.78PHECX Prudential Global TotalPairCorr
  0.79PHEAX Prudential Global TotalPairCorr
  0.73TGMBX Prudential Porate BondPairCorr
  0.78PHEZX Prudential Global TotalPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWJZX  0.68  0.22  0.05 (7.55) 0.44 
(0.76)
 1.87 
(1.19)
 4.47 
PWJAX  0.68  0.21  0.05 (7.89) 0.43 
(0.76)
 1.88 
(1.19)
 4.47 
PWJCX  0.66  0.11  0.07  0.34  0.37 
(0.75)
 1.85 
(1.19)
 4.43 
HYSZX  0.13  0.04 (0.55) 0.57  0.00 
(0.22)
 0.37 
(0.12)
 0.84 
HYSAX  0.13  0.06 (0.56)(4.12) 0.00 
(0.21)
 0.37 
(0.12)
 0.84 
HYSCX  0.12  0.06 (0.58)(3.91) 0.00 
(0.20)
 0.37 
(0.12)
 0.83 
EMDCX  0.23  0.09 (0.18) 5.22  0.00 
(0.36)
 0.64 
(0.42)
 1.88 
EMDAX  0.28  0.10 (0.18) 2.15  0.00 
(0.42)
 0.67 
(0.42)
 1.89 
EMDZX  0.25  0.10 (0.16) 3.34  0.00 
(0.38)
 0.66 
(0.42)
 1.87 
PFSZX  0.77  0.05  0.07  0.22  0.72 
(0.88)
 2.06 
(1.54)
 6.15 

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