Correlation Analysis Between PGIM Jennison and EuroPacific Growth

Analyzing existing cross correlation between PGIM Jennison International Opp and EuroPacific Growth Fund Class. You can compare the effects of market volatilities on PGIM Jennison and EuroPacific Growth and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in PGIM Jennison with a short position of EuroPacific Growth. See also your portfolio center. Please also check ongoing floating volatility patterns of PGIM Jennison and EuroPacific Growth.
Horizon     30 Days    Login   to change
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Comparative Performance

PGIM Jennison Intern  
2222

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in PGIM Jennison International Opp are ranked lower than 22 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, PGIM Jennison showed solid returns over the last few months and may actually be approaching a breakup point.
EuroPacific Growth Fund  
1212

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in EuroPacific Growth Fund Class are ranked lower than 12 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, EuroPacific Growth may actually be approaching a critical reversion point that can send shares even higher in February 2020.

PGIM Jennison and EuroPacific Growth Volatility Contrast

 Predicted Return Density 
    
  Returns 

PGIM Jennison International Op  vs.  EuroPacific Growth Fund Class

 Performance (%) 
    
  Timeline 

Pair Volatility

Assuming 30 trading days horizon, PGIM Jennison International Opp is expected to generate 1.12 times more return on investment than EuroPacific Growth. However, PGIM Jennison is 1.12 times more volatile than EuroPacific Growth Fund Class. It trades about 0.33 of its potential returns per unit of risk. EuroPacific Growth Fund Class is currently generating about 0.18 per unit of risk. If you would invest  1,903  in PGIM Jennison International Opp on December 20, 2019 and sell it today you would earn a total of  289.00  from holding PGIM Jennison International Opp or generate 15.19% return on investment over 30 days.

Pair Corralation between PGIM Jennison and EuroPacific Growth

0.88
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.46%
ValuesDaily Returns

Diversification Opportunities for PGIM Jennison and EuroPacific Growth

PGIM Jennison International Op diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding PGIM Jennison International Op and EuroPacific Growth Fund Class in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EuroPacific Growth Fund and PGIM Jennison is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on PGIM Jennison International Opp are associated (or correlated) with EuroPacific Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EuroPacific Growth Fund has no effect on the direction of PGIM Jennison i.e. PGIM Jennison and EuroPacific Growth go up and down completely randomly.
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