Prudential Jennison Correlations

PJVQX Fund

USD 25.30 0.06 0.24%

The current 90-days correlation between Prudential Jennison Value and 1919 Financial Services is 0.84 (i.e., Very poor 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

Almost no diversification

The correlation between Prudential Jennison Value and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Jennison Value 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 Value. 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

0.86	PFRIX	Prudential Floating Rate	Pair Corr
0.95	PFSQX	Prudential Jennison	Pair Corr
0.77	PGJQX	Prudential Jennison	Pair Corr
0.93	PGKCX	Pgim Jennison Technology	Pair Corr
0.93	PGKAX	Pgim Jennison Technology	Pair Corr
0.93	PGKRX	Pgim Jennison Technology	Pair Corr
0.83	SCFQX	Pgim Securitized Credit	Pair Corr
0.83	SCFOX	Pgim Securitized Credit	Pair Corr
0.64	PHYQX	Prudential High Yield	Pair Corr
0.98	SUVQX	Prudential Qma Strategic	Pair Corr
0.85	PIBQX	Prudential Balanced	Pair Corr
0.96	JSCRX	Prudential Jennison Small	Pair Corr
0.98	SDVRX	Prudential Qma Mid	Pair Corr
0.96	PJFPX	Prudential Jennison	Pair Corr
0.95	PJFOX	Prudential Jennison	Pair Corr
0.95	PJGRX	Prudential Jennison	Pair Corr
0.98	PJGQX	Prudential Jennison Mid	Pair Corr
1.0	PJORX	Prudential Jennison	Pair Corr
1.0	PJOQX	Prudential Jennison	Pair Corr
0.65	PJNQX	Jennison Natural Res	Pair Corr

Moving against Prudential Mutual Fund

0.76	PGTQX	Prudential Global Total	Pair Corr
0.76	PGTSX	Prudential Global Total	Pair Corr
0.75	PGIQX	Prudential Government	Pair Corr
0.67	PHLQX	Prudential Health	Pair Corr
0.58	EMDQX	Prudential Emerging	Pair Corr
0.45	PHEQX	Prudential Global Total	Pair Corr
0.39	PGRQX	Prudential Global Real	Pair Corr
0.31	PWJRX	Prudential Jennison	Pair Corr
0.31	PWJBX	Pgim Jennison Intern	Pair Corr
0.67	PJHRX	Prudential Health	Pair Corr
0.41	PIFEX	Prudential Short Term	Pair Corr
0.36	PIFGX	Prudential Short Term	Pair Corr

Related Correlations Analysis

	SBFAX	MSVIX	VFAIX	ICFAX	MSVVX	RPFGX	MCBXX	FNPIX
SBFAX		0.82	1.0	0.91	0.82	0.99	0.21	1.0	SBFAX
MSVIX	0.82		0.83	0.9	1.0	0.86	0.08	0.82	MSVIX
VFAIX	1.0	0.83		0.92	0.83	0.99	0.2	1.0	VFAIX
ICFAX	0.91	0.9	0.92		0.9	0.93	0.14	0.92	ICFAX
MSVVX	0.82	1.0	0.83	0.9		0.85	0.08	0.82	MSVVX
RPFGX	0.99	0.86	0.99	0.93	0.85		0.19	0.99	RPFGX
MCBXX	0.21	0.08	0.2	0.14	0.08	0.19		0.19	MCBXX
FNPIX	1.0	0.82	1.0	0.92	0.82	0.99	0.19		FNPIX
	SBFAX	MSVIX	VFAIX	ICFAX	MSVVX	RPFGX	MCBXX	FNPIX

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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
SBFAX	0.80	0.08	0.14	0.18	0.51	(0.95)	1.72	(1.44)	8.60
MSVIX	0.79	(0.06)	(0.03)	0.07	0.84	(0.88)	1.78	(1.41)	5.71
VFAIX	0.78	0.08	0.14	0.17	0.51	(0.91)	1.77	(1.22)	8.51
ICFAX	0.72	(0.02)	0.00	0.10	0.74	(0.89)	1.43	(1.21)	5.10
MSVVX	0.79	(0.06)	(0.03)	0.07	0.82	(0.86)	1.78	(1.41)	5.71
RPFGX	0.80	0.06	0.12	0.16	0.52	(1.01)	1.85	(1.40)	7.59
MCBXX	0.03	0.00	0.00	0.47	0.00	0.00	0.00	0.00	1.01
FNPIX	1.08	0.09	0.15	0.17	0.87	(1.16)	2.09	(1.83)	11.72

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