Do you expect the price of the common stock to flucuate the same way as the price of prefered stock? Explain?

Usually not. Preferreds are much more sensitive to interest rates than their common stock counterparts, since they generally have a fixed dividend. Similar to bond prices, when interest rates rise, the principal falls. The higher the regular dividend for a common stock, the more correlated (the more closely it will move together) it will be with the preferred share class.

No. Preferred stock has better guarantees on the pay out... (in bankruptcy Preferred gets paid before Common, etc) so there is less volitility in the price of preferred stock as compared to common stock. Preferred stock acts more like a bond because that is what some preferred stock is... a stated interest loan. Some preferred stocks are mainly to control ownership in the corporation... and those are not usually up for sale. Different characteristics so they do not fluxuate directly with each other.

No preferred stock prices are much more stable because they behave more like bonds than like common stock. Lately common stocks have been quite volatile.

I would expect preferred stock to fluctuate less than common.
The name preferred refers to the fact that these shares have a preference to dividends. There are several types of preferred shares but generally speaking their dividend rate once set does not go up whereas common stock dividends can be raised if the company is doing well Often as well preferred stock can be called by the company at a specific price so that would also limit the range of trading values