Prudential Balanced Correlations

PIBAX Fund

USD 18.46 0.05 0.27%

The current 90-days correlation between Prudential Balanced and Fdzbpx is 0.74 (i.e., Poor diversification). The correlation of Prudential Balanced 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 Balanced Correlation With Market

Good diversification

The correlation between Prudential Balanced Fund and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Balanced Fund 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 Balanced Fund. 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

0.92	PWJZX	Prudential Jennison	Pair Corr
0.92	PWJAX	Prudential Jennison	Pair Corr
0.91	PWJCX	Prudential Jennison	Pair Corr
0.98	HYSZX	Prudential Short Duration	Pair Corr
0.98	HYSAX	Prudential Short Duration	Pair Corr
0.98	HYSCX	Prudential Short Duration	Pair Corr
0.71	EMDCX	Prudential Emerging	Pair Corr
0.94	EMDAX	Prudential Emerging	Pair Corr
0.71	EMDZX	Prudential Emerging	Pair Corr
0.94	PFSZX	Prudential Financial	Pair Corr
0.94	PFSAX	Prudential Financial	Pair Corr
0.98	PGFCX	Pgim Conservative	Pair Corr
0.61	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.62	PGJZX	Prudential Jennison	Pair Corr
0.64	FRFZX	Prudential Floating Rate	Pair Corr
0.65	FRFAX	Prudential Floating Rate	Pair Corr
0.64	FRFCX	Prudential Floating Rate	Pair Corr
0.65	PGNAX	Jennison Natural Res	Pair Corr
0.64	PGTOX	Prudential Global Total	Pair Corr
0.84	PHEZX	Prudential Global Total	Pair Corr

Moving against Prudential Mutual Fund

0.33

PHICX

Prudential Muni High

Pair Corr

Related Correlations Analysis

	FDZBPX	FKHEMX	AUUIX	IAADX	LMUSX	VOLMX	FFUYUX
FDZBPX		0.96	0.67	0.96	0.62	0.96	0.95	FDZBPX
FKHEMX	0.96		0.67	0.94	0.64	0.99	0.98	FKHEMX
AUUIX	0.67	0.67		0.68	0.99	0.66	0.72	AUUIX
IAADX	0.96	0.94	0.68		0.62	0.94	0.96	IAADX
LMUSX	0.62	0.64	0.99	0.62		0.63	0.68	LMUSX
VOLMX	0.96	0.99	0.66	0.94	0.63		0.98	VOLMX
FFUYUX	0.95	0.98	0.72	0.96	0.68	0.98		FFUYUX
	FDZBPX	FKHEMX	AUUIX	IAADX	LMUSX	VOLMX	FFUYUX

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Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Balanced 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 Balanced'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
FDZBPX	0.31	0.09	(0.24)	11.25	0.13	(0.38)	0.73	(0.59)	2.38
FKHEMX	0.56	0.21	0.00	(3.32)	0.27	(0.66)	1.49	(0.88)	4.58
AUUIX	0.51	0.10	0.12	0.33	0.00	(0.64)	1.61	(0.68)	4.50
IAADX	0.15	0.06	(0.79)	(13.58)	0.00	(0.20)	0.33	(0.22)	0.87
LMUSX	0.55	0.10	0.12	0.31	0.00	(0.69)	1.67	(0.82)	4.81
VOLMX	0.49	0.17	(0.09)	(1.19)	0.33	(0.59)	1.12	(0.82)	3.99
FFUYUX	0.82	0.37	0.21	(4.54)	0.13	(1.09)	2.38	(1.08)	6.91

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