Prudential Jennison Correlations

SPQAX Fund

USD 15.07 0.08 0.53%

The current 90-days correlation between Prudential Jennison and Alpine Ultra Short is -0.05 (i.e., Good diversification). 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

Poor diversification

The correlation between Prudential Jennison Equity and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Prudential Jennison Equity. 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

0.95	EMDCX	Prudential Emerging	Pair Corr
0.79	PFSZX	Prudential Financial	Pair Corr
0.9	PFSAX	Prudential Financial	Pair Corr
0.97	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.89	PGJAX	Prudential Jennison	Pair Corr
0.8	PGJCX	Prudential Jennison	Pair Corr
0.85	FRFAX	Prudential Floating Rate	Pair Corr
0.96	FRFCX	Prudential Floating Rate	Pair Corr
0.97	PGKZX	Pgim Jennison Technology	Pair Corr
0.82	PGTOX	Prudential Global Total	Pair Corr
0.79	PHECX	Prudential Global Total	Pair Corr
0.75	PHEAX	Prudential Global Total	Pair Corr
0.78	TGMBX	Prudential Porate Bond	Pair Corr

Moving against Prudential Mutual Fund

0.31

PHICX

Prudential Muni High

Pair Corr

Related Correlations Analysis

	ATOAX	FTFZX	CMGUX	BDMKX	ASCLX	HYSZX
ATOAX		0.98	0.98	0.94	0.94	0.95	ATOAX
FTFZX	0.98		0.99	0.97	0.96	0.98	FTFZX
CMGUX	0.98	0.99		0.95	0.96	0.96	CMGUX
BDMKX	0.94	0.97	0.95		0.97	0.97	BDMKX
ASCLX	0.94	0.96	0.96	0.97		0.97	ASCLX
HYSZX	0.95	0.98	0.96	0.97	0.97		HYSZX
	ATOAX	FTFZX	CMGUX	BDMKX	ASCLX	HYSZX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ATOAX	0.02	0.00	0.00	0.47	0.00	0.00	0.00	0.30
FTFZX	0.06	0.02	(1.69)	(13.02)	(0.14)	0.20	(0.10)	0.49
CMGUX	0.05	0.01	0.00	(3.09)	0.00	0.11	0.00	0.55
BDMKX	0.09	0.05	(1.58)	(3.74)	(0.16)	0.22	(0.11)	0.44
ASCLX	0.24	0.12	(0.36)	(1.18)	(0.31)	0.62	(0.45)	1.71
HYSZX	0.12	0.04	(1.05)	0.60	(0.21)	0.37	(0.12)	0.84

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC