Prudential Floating Correlations

Mutual Funds . USA . 
Fund . Prudential Floating Rate
PFRIX Fund  USD 9.10  0.01  0.11%   
The current 90-days correlation between Prudential Floating Rate and Goehring Rozencwajg Resources is 0.04 (i.e., Significant 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

Good diversification

The correlation between Prudential Floating Rate and DJI is -0.01 (i.e., Good 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 Your Equity Center 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 gross domestic product.

Moving together with Prudential Mutual Fund

  0.95PWJQX Prudential JennisonPairCorr
  0.94PWJRX Prudential JennisonPairCorr
  0.94PWJBX Pgim Jennison InternPairCorr
  0.95PWJDX Pgim Jennison InternPairCorr
  0.97HYSQX Prudential Short DurationPairCorr
  0.93EMDQX Prudential EmergingPairCorr
  0.93PFSQX Prudential JennisonPairCorr
  0.89PGJQX Prudential JennisonPairCorr
  0.98PGKCX Pgim Jennison TechnologyPairCorr
  0.98PGKAX Pgim Jennison TechnologyPairCorr
  0.98PGKRX Pgim Jennison TechnologyPairCorr
  0.86PGRQX Prudential Global RealPairCorr
  0.76PGTQX Prudential Global TotalPairCorr
  0.75PGTSX Prudential Global TotalPairCorr
  0.99SCFQX Pgim Securitized CreditPairCorr
  0.99SCFOX Pgim Securitized CreditPairCorr
  0.98SCFZX Pgim Securitized CreditPairCorr
  0.98SCFVX Pgim Securitized CreditPairCorr
  0.79PHEQX Prudential Global TotalPairCorr
  0.97PHYGX Pgim High YieldPairCorr
  0.96PHYQX Prudential High YieldPairCorr
  0.97SUVQX Prudential Qma StrategicPairCorr
  0.98PIBQX Prudential BalancedPairCorr
  0.94JSCRX Prudential Jennison SmallPairCorr
  0.87PIFEX Prudential Short TermPairCorr
  0.89PIFGX Prudential Short TermPairCorr
  0.91SDMQX Prudential Short DurationPairCorr
  0.95SDVRX Prudential Qma MidPairCorr
  0.98PJDQX Pgim Jennison RisingPairCorr
  0.98PJFPX Prudential JennisonPairCorr
  0.98PJFQX Prudential JennisonPairCorr
  0.98PJFOX Prudential JennisonPairCorr
  0.78PJEQX Prudential Real EstatePairCorr
  0.98PJERX Prudential JennisonPairCorr
  0.98PJIQX 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 Floating 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 Floating'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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