Pgim Jennison Correlations

TBDQX Fund

USD 21.33 0.20 0.93%

The current 90-days correlation between Pgim Jennison Diversified and Europacific Growth Fund is 0.63 (i.e., Poor diversification). The correlation of Pgim 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.

Pgim Jennison Correlation With Market

Poor diversification

The correlation between Pgim Jennison Diversified and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Jennison Diversified 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 Pgim Jennison Diversified. 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 Pgim Mutual Fund

0.62	HYSQX	Prudential Short Duration	Pair Corr
0.82	PFRIX	Prudential Floating Rate	Pair Corr
0.86	PFSQX	Prudential Jennison	Pair Corr
0.7	PGJQX	Prudential Jennison	Pair Corr
0.98	PGKCX	Pgim Jennison Technology	Pair Corr
0.98	PGKAX	Pgim Jennison Technology	Pair Corr
0.98	PGKRX	Pgim Jennison Technology	Pair Corr
0.79	SCFQX	Pgim Securitized Credit	Pair Corr
0.8	SCFOX	Pgim Securitized Credit	Pair Corr
0.79	SCFZX	Pgim Securitized Credit	Pair Corr
0.8	SCFVX	Pgim Securitized Credit	Pair Corr
0.67	PHYQX	Prudential High Yield	Pair Corr
0.9	SUVQX	Prudential Qma Strategic	Pair Corr
0.89	PIBQX	Prudential Balanced	Pair Corr
0.9	JSCRX	Prudential Jennison Small	Pair Corr
0.91	SDVRX	Prudential Qma Mid	Pair Corr
0.91	PJDQX	Pgim Jennison Rising	Pair Corr
0.99	PJFPX	Prudential Jennison	Pair Corr
0.99	PJFOX	Prudential Jennison	Pair Corr
0.99	PJGRX	Prudential Jennison	Pair Corr

Moving against Pgim Mutual Fund

0.73	PGIQX	Prudential Government	Pair Corr
0.7	PGTSX	Prudential Global Total	Pair Corr
0.69	PGTQX	Prudential Global Total	Pair Corr
0.62	PHLQX	Prudential Health	Pair Corr
0.48	EMDQX	Prudential Emerging	Pair Corr
0.44	PHEQX	Prudential Global Total	Pair Corr
0.34	PGRQX	Prudential Global Real	Pair Corr
0.73	JDRVX	Prudential Government	Pair Corr
0.62	PJHRX	Prudential Health	Pair Corr
0.38	PIFEX	Prudential Short Term	Pair Corr
0.32	PIFGX	Prudential Short Term	Pair Corr

Related Correlations Analysis

	RERGX	RWMGX	RWIGX	444859BR2	SCRYY	AQUI	APAAX	LBHIX	MSTSX	ID
RERGX		0.14	0.56	0.2	-0.36	0.0	0.37	0.04	0.52	-0.35	RERGX
RWMGX	0.14		0.88	-0.64	0.54	0.0	0.0	0.69	0.86	0.69	RWMGX
RWIGX	0.56	0.88		-0.49	0.3	0.0	0.14	0.6	0.96	0.41	RWIGX
444859BR2	0.2	-0.64	-0.49		-0.53	0.0	0.06	-0.54	-0.45	-0.53	444859BR2
SCRYY	-0.36	0.54	0.3	-0.53		0.0	0.14	0.48	0.34	0.73	SCRYY
AQUI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
APAAX	0.37	0.0	0.14	0.06	0.14	0.0		0.49	0.25	-0.06	APAAX
LBHIX	0.04	0.69	0.6	-0.54	0.48	0.0	0.49		0.68	0.55	LBHIX
MSTSX	0.52	0.86	0.96	-0.45	0.34	0.0	0.25	0.68		0.42	MSTSX
ID	-0.35	0.69	0.41	-0.53	0.73	0.0	-0.06	0.55	0.42		ID
	RERGX	RWMGX	RWIGX	444859BR2	SCRYY	AQUI	APAAX	LBHIX	MSTSX	ID

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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

MSTSX	+ 0.96	RWIGX
RWIGX	+ 0.88	RWMGX
MSTSX	+ 0.86	RWMGX
ID	+ 0.73	SCRYY
LBHIX	+ 0.69	RWMGX
ID	+ 0.69	RWMGX

High negative correlations

444859BR2	- 0.64	RWMGX
LBHIX	- 0.54	444859BR2
ID	- 0.53	444859BR2
SCRYY	- 0.53	444859BR2
444859BR2	- 0.49	RWIGX
MSTSX	- 0.45	444859BR2

Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim 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 Pgim 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
RERGX	0.61	(0.11)	0.00	(0.11)	0.00	0.00	1.11	(1.48)	4.02
RWMGX	0.50	(0.03)	(0.09)	0.07	0.59	(0.53)	1.00	(1.14)	3.32
RWIGX	0.53	(0.06)	(0.13)	0.03	0.74	(0.55)	1.18	(1.36)	3.19
444859BR2	1.36	(0.08)	0.00	(0.21)	0.00	0.00	5.93	(5.79)	16.62
SCRYY	2.07	0.29	0.08	1.93	2.02	(2.85)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APAAX	0.14	0.02	(0.35)	(0.09)	0.15	(0.18)	0.31	(0.31)	1.13
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
ID	3.91	0.70	0.13	1.00	4.02	(5.25)	7.89	(6.67)	20.54

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