Prudential Real Correlations

PRKAX Fund

USD 8.15 0.04 0.49%

The current 90-days correlation between Prudential Real Estate and Sprott Gold Equity is 0.36 (i.e., Weak diversification). The correlation of Prudential Real 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 Real Correlation With Market

Modest diversification

The correlation between Prudential Real Estate and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prudential Real Estate 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 Real Estate. 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

0.86	WY	Weyerhaeuser Fiscal Year End 23rd of January 2025	Pair Corr
0.7	ADC-PA	Agree Realty	Pair Corr
0.82	VNO-PL	Vornado Realty Trust	Pair Corr
0.73	VNO-PM	Vornado Realty Trust	Pair Corr
0.68	VNO-PN	Vornado Realty Trust	Pair Corr
0.74	VNO-PO	Vornado Realty Trust	Pair Corr
0.75	MITT-PA	AG Mortgage Investment	Pair Corr
0.65	MITT-PB	AG Mortgage Investment	Pair Corr
0.75	EPRT	Essential Properties	Pair Corr
0.71	ESRT	Empire State Realty	Pair Corr

Moving against Prudential Mutual Fund

0.34	PW	Power REIT	Pair Corr
0.64	EMITF	Elbit Imaging	Pair Corr

Related Correlations Analysis

	SGDLX	SPPIX	MXKJX	INIVX	GLRBX	USERX	AGGWX
SGDLX		-0.91	0.06	0.99	0.48	0.99	0.99	SGDLX
SPPIX	-0.91		0.23	-0.9	-0.29	-0.92	-0.94	SPPIX
MXKJX	0.06	0.23		0.06	0.73	-0.02	0.0	MXKJX
INIVX	0.99	-0.9	0.06		0.44	0.98	0.99	INIVX
GLRBX	0.48	-0.29	0.73	0.44		0.45	0.44	GLRBX
USERX	0.99	-0.92	-0.02	0.98	0.45		0.99	USERX
AGGWX	0.99	-0.94	0.0	0.99	0.44	0.99		AGGWX
	SGDLX	SPPIX	MXKJX	INIVX	GLRBX	USERX	AGGWX

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

INIVX	+ 0.99	SGDLX
USERX	+ 0.99	SGDLX
AGGWX	+ 0.99	SGDLX
AGGWX	+ 0.99	INIVX
AGGWX	+ 0.99	USERX
USERX	+ 0.98	INIVX

High negative correlations

AGGWX	- 0.94	SPPIX
USERX	- 0.92	SPPIX
SPPIX	- 0.91	SGDLX
INIVX	- 0.9	SPPIX
GLRBX	- 0.29	SPPIX
USERX	- 0.02	MXKJX

Risk-Adjusted Indicators

There is a big difference between Prudential Mutual Fund performing well and Prudential Real 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 Real'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
SGDLX	1.35	0.00	(0.06)	0.14	1.64	(1.47)	2.78	(2.57)	9.03
SPPIX	1.42	0.11	(0.01)	(0.49)	1.72	(1.56)	3.24	(2.31)	10.50
MXKJX	0.59	0.01	0.00	0.13	0.51	(0.73)	1.26	(1.23)	3.51
INIVX	1.40	(0.02)	(0.06)	0.01	1.80	(1.45)	2.66	(2.74)	9.92
GLRBX	0.31	(0.03)	(0.22)	0.04	0.39	(0.32)	0.61	(0.70)	1.88
USERX	1.42	(0.03)	(0.06)	(0.03)	1.89	(1.43)	3.05	(2.74)	10.13
AGGWX	1.49	(0.05)	0.00	(0.07)	0.00	0.00	2.93	(2.97)	9.49

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