Prudential Utility Correlations

PRUZX Fund

USD 16.24 0.21 1.31%

The current 90-days correlation between Prudential Utility and Prudential Health Sciences is 0.38 (i.e., Weak diversification). The correlation of Prudential Utility 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 Utility Correlation With Market

Good diversification

The correlation between Prudential Utility Fund and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Utility 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 Utility 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

0.85	D	Dominion Energy	Pair Corr
0.77	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.61	HE	Hawaiian Electric	Pair Corr
0.8	NI	NiSource Earnings Call This Week	Pair Corr
0.61	ELLO	Ellomay Capital	Pair Corr
0.76	ENLT	Enlight Renewable Energy	Pair Corr
0.63	AES	AES Earnings Call This Week	Pair Corr
0.7	AQN	Algonquin Power Utilities	Pair Corr
0.73	BEP	Brookfield Renewable	Pair Corr
0.65	BIP	Brookfield Infrastructure Earnings Call This Week	Pair Corr
0.77	CEG	Constellation Energy Corp	Pair Corr
0.63	CIG	Companhia Energetica	Pair Corr
0.69	DTW	DTE Energy	Pair Corr

Moving against Prudential Mutual Fund

0.56	ED	Consolidated Edison	Pair Corr
0.55	WTRG	Essential Utilities	Pair Corr
0.61	CWT	California Water Service Earnings Call This Week	Pair Corr
0.59	AVA	Avista	Pair Corr
0.59	AWR	American States Water	Pair Corr
0.54	EDN	Empresa Distribuidora	Pair Corr
0.5	EXC	Exelon Earnings Call This Week	Pair Corr
0.48	BKH	Black Hills Earnings Call This Week	Pair Corr
0.48	CPK	Chesapeake Utilities	Pair Corr
0.45	EBR	Centrais Electricas	Pair Corr
0.42	EIX	Edison International	Pair Corr

Related Correlations Analysis

	PHSZX	PNRZX	PRUAX	PCUFX	PTWZX
PHSZX		0.47	0.37	0.34	0.0	PHSZX
PNRZX	0.47		0.7	0.72	0.0	PNRZX
PRUAX	0.37	0.7		0.85	0.0	PRUAX
PCUFX	0.34	0.72	0.85		0.0	PCUFX
PTWZX	0.0	0.0	0.0	0.0		PTWZX
	PHSZX	PNRZX	PRUAX	PCUFX	PTWZX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PCUFX	+ 0.85	PRUAX
PCUFX	+ 0.72	PNRZX
PRUAX	+ 0.7	PNRZX
PNRZX	+ 0.47	PHSZX
PRUAX	+ 0.37	PHSZX
PCUFX	+ 0.34	PHSZX

High negative correlations

PTWZX	- 0.0	PCUFX
PTWZX	- 0.0	PRUAX
PTWZX	- 0.0	PNRZX
PTWZX	- 0.0	PHSZX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Utility 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 Utility'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
PHSZX	0.98	0.12	(0.09)	(0.26)	1.35	(0.93)	1.89	(2.26)	5.43
PNRZX	0.68	0.17	0.02	1.06	0.35	(0.80)	1.73	(1.00)	3.80
PRUAX	0.68	0.15	(0.07)	(1.82)	0.73	(0.73)	1.44	(1.37)	4.47
PCUFX	0.68	0.10	(0.10)	(6.54)	0.78	(0.72)	1.39	(1.32)	4.58
PTWZX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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