Prudential Jennison Correlations

PGJQX Fund

USD 17.87 0.07 0.39%

The current 90-days correlation between Prudential Jennison and Prudential Jennison International is 0.17 (i.e., Average 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

Modest diversification

The correlation between Prudential Jennison Global and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Global 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 Jennison Global. 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 producer price index.

Moving together with Prudential Mutual Fund

0.67	HYSQX	Prudential Short Duration	Pair Corr
0.67	PFSQX	Prudential Jennison	Pair Corr
0.7	PGKCX	Pgim Jennison Technology	Pair Corr
0.7	PGKAX	Pgim Jennison Technology	Pair Corr
0.7	PGKRX	Pgim Jennison Technology	Pair Corr
0.72	PHYGX	Pgim High Yield	Pair Corr
0.74	PHYQX	Prudential High Yield	Pair Corr
0.72	SUVQX	Prudential Qma Strategic	Pair Corr
0.8	PIBQX	Prudential Balanced	Pair Corr
0.72	JSCRX	Prudential Jennison Small	Pair Corr
0.76	SDVRX	Prudential Qma Mid	Pair Corr
0.86	PJDQX	Pgim Jennison Rising	Pair Corr
0.7	PJFPX	Prudential Jennison	Pair Corr
0.7	PJFOX	Prudential Jennison	Pair Corr
0.83	PJEQX	Prudential Real Estate	Pair Corr
0.7	PJGRX	Prudential Jennison	Pair Corr

Moving against Prudential Mutual Fund

0.52	PHLQX	Prudential Health	Pair Corr
0.33	PGTSX	Prudential Global Total	Pair Corr
0.32	PGTQX	Prudential Global Total	Pair Corr
0.53	PJHRX	Prudential Health	Pair Corr
0.31	JDRVX	Prudential Government	Pair Corr

Related Correlations Analysis

	PWJQX	PWJRX	PWJBX	PWJDX	HYSQX	EMDQX	PFRIX	PFSQX	PGIQX
PWJQX		1.0	1.0	1.0	-0.15	0.67	-0.53	-0.51	0.41	PWJQX
PWJRX	1.0		1.0	1.0	-0.16	0.68	-0.54	-0.52	0.43	PWJRX
PWJBX	1.0	1.0		1.0	-0.16	0.68	-0.54	-0.52	0.42	PWJBX
PWJDX	1.0	1.0	1.0		-0.15	0.68	-0.53	-0.51	0.42	PWJDX
HYSQX	-0.15	-0.16	-0.16	-0.15		0.01	0.64	0.49	-0.24	HYSQX
EMDQX	0.67	0.68	0.68	0.68	0.01		-0.72	-0.75	0.86	EMDQX
PFRIX	-0.53	-0.54	-0.54	-0.53	0.64	-0.72		0.88	-0.85	PFRIX
PFSQX	-0.51	-0.52	-0.52	-0.51	0.49	-0.75	0.88		-0.78	PFSQX
PGIQX	0.41	0.43	0.42	0.42	-0.24	0.86	-0.85	-0.78		PGIQX
	PWJQX	PWJRX	PWJBX	PWJDX	HYSQX	EMDQX	PFRIX	PFSQX	PGIQX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PWJRX	+ 1.0	PWJQX
PWJBX	+ 1.0	PWJQX
PWJDX	+ 1.0	PWJQX
PWJBX	+ 1.0	PWJRX
PWJDX	+ 1.0	PWJRX
PWJDX	+ 1.0	PWJBX

High negative correlations

PGIQX	- 0.85	PFRIX
PGIQX	- 0.78	PFSQX
PFSQX	- 0.75	EMDQX
PFRIX	- 0.72	EMDQX
PFRIX	- 0.54	PWJBX
PFRIX	- 0.54	PWJRX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PWJQX	0.76	(0.16)	0.00	(0.08)	0.00	0.00	1.59	(1.71)	5.55
PWJRX	0.76	(0.16)	0.00	(0.09)	0.00	0.00	1.59	(1.69)	5.51
PWJBX	0.76	(0.16)	0.00	(0.09)	0.00	0.00	1.56	(1.72)	5.54
PWJDX	0.76	(0.16)	0.00	(0.08)	0.00	0.00	1.57	(1.70)	5.52
HYSQX	0.11	0.01	(0.70)	0.25	0.00	(0.17)	0.24	(0.24)	0.60
EMDQX	0.35	(0.05)	0.00	(1.63)	0.00	0.00	0.66	(0.65)	1.75
PFRIX	0.08	0.03	0.00	2.53	0.00	0.00	0.11	(0.11)	0.90
PFSQX	0.80	0.04	0.11	0.16	0.51	(1.03)	1.58	(1.42)	8.34
PGIQX	0.24	(0.01)	0.00	0.26	0.00	0.00	0.50	(0.64)	1.41

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

2024 Macroaxis LLC