Prudential Health Correlations

PHLCX Fund

USD 14.53 0.02 0.14%

The current 90-days correlation between Prudential Health and Nuveen Small Cap is -0.07 (i.e., Good diversification). The correlation of Prudential Health 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 Health Correlation With Market

Very weak diversification

The correlation between Prudential Health Sciences and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Health Sciences 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 Health Sciences. 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 private.

Moving together with Prudential Mutual Fund

0.72	EMDCX	Prudential Emerging	Pair Corr
0.78	EMDAX	Prudential Emerging	Pair Corr
0.76	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.68	PGJAX	Prudential Jennison	Pair Corr
0.67	PGJCX	Prudential Jennison	Pair Corr
0.67	PGJZX	Prudential Jennison	Pair Corr
0.7	PGVAX	Prudential Government	Pair Corr
0.84	PHEAX	Prudential Global Total	Pair Corr
0.71	PHEZX	Prudential Global Total	Pair Corr
1.0	PHLAX	Prudential Health	Pair Corr
1.0	PHSZX	Prudential Health	Pair Corr
0.8	PIFCX	Prudential Short Term	Pair Corr

Moving against Prudential Mutual Fund

0.85	PFSAX	Prudential Financial	Pair Corr
0.79	PFSZX	Prudential Financial	Pair Corr
0.33	HYSCX	Prudential Short Duration	Pair Corr

Related Correlations Analysis

	FRMPX	QSERX	LMBMX	HISGX	QUAZX	KSCYX	PSBMX
FRMPX		0.82	0.78	0.9	0.75	0.46	0.67	FRMPX
QSERX	0.82		0.97	0.78	0.89	0.46	0.81	QSERX
LMBMX	0.78	0.97		0.78	0.87	0.51	0.86	LMBMX
HISGX	0.9	0.78	0.78		0.67	0.48	0.67	HISGX
QUAZX	0.75	0.89	0.87	0.67		0.35	0.82	QUAZX
KSCYX	0.46	0.46	0.51	0.48	0.35		0.63	KSCYX
PSBMX	0.67	0.81	0.86	0.67	0.82	0.63		PSBMX
	FRMPX	QSERX	LMBMX	HISGX	QUAZX	KSCYX	PSBMX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Health 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 Health'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
FRMPX	0.93	0.02	(0.01)	0.23	1.21	(0.93)	1.85	(1.72)	6.45
QSERX	0.92	0.00	0.01	0.03	1.17	(0.98)	2.28	(2.18)	6.90
LMBMX	0.88	0.02	0.03	0.05	1.03	(0.95)	2.19	(1.89)	6.86
HISGX	0.86	0.06	0.02	1.95	1.10	(0.90)	1.88	(1.54)	5.56
QUAZX	1.05	(0.04)	(0.02)	0.01	1.52	(0.98)	1.92	(2.25)	7.40
KSCYX	1.04	(0.02)	(0.02)	0.00	1.42	(1.02)	2.02	(2.12)	8.90
PSBMX	0.79	0.01	0.01	0.04	1.05	(0.81)	1.94	(1.85)	5.58

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