Pgim Esg Correlations

PGANX Fund

USD 8.92 0.00 0.00%

The current 90-days correlation between Pgim Esg High and Morgan Stanley Emerging is 0.21 (i.e., Modest diversification). The correlation of Pgim Esg 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 Esg Correlation With Market

Modest diversification

The correlation between Pgim Esg High and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Esg High 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 Pgim Esg High. 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 board of governors.

Moving together with Pgim Mutual Fund

0.85	VWEAX	Vanguard High Yield	Pair Corr
0.85	VWEHX	Vanguard High Yield	Pair Corr
0.87	BHYCX	Blackrock Hi Yld	Pair Corr
0.84	BHYIX	Blackrock High Yield	Pair Corr
0.82	BHYSX	Blackrock Hi Yld	Pair Corr
0.86	BHYAX	Blackrock High Yield	Pair Corr
0.83	FAHHX	American Funds American	Pair Corr
0.82	FTAHX	American Funds American	Pair Corr
0.82	AHTFX	American High Income	Pair Corr
0.83	AHTCX	American High Income	Pair Corr
0.67	BRUFX	Bruce Fund Bruce	Pair Corr
0.67	KF	Korea Closed	Pair Corr
0.64	VZ	Verizon Communications	Pair Corr
0.63	KO	Coca Cola	Pair Corr
0.65	GE	GE Aerospace	Pair Corr

Moving against Pgim Mutual Fund

0.57	MRK	Merck Company	Pair Corr
0.45	AA	Alcoa Corp	Pair Corr
0.4	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	XMSDX	MMCBX	PACEX	DLGBX	DODLX	TAADX	VSBIX
XMSDX		0.87	0.88	0.84	0.9	0.87	0.74	XMSDX
MMCBX	0.87		0.96	0.92	0.98	0.99	0.89	MMCBX
PACEX	0.88	0.96		0.91	0.96	0.95	0.9	PACEX
DLGBX	0.84	0.92	0.91		0.94	0.92	0.77	DLGBX
DODLX	0.9	0.98	0.96	0.94		0.98	0.89	DODLX
TAADX	0.87	0.99	0.95	0.92	0.98		0.88	TAADX
VSBIX	0.74	0.89	0.9	0.77	0.89	0.88		VSBIX
	XMSDX	MMCBX	PACEX	DLGBX	DODLX	TAADX	VSBIX

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Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Esg 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 Esg'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
XMSDX	0.25	(0.02)	0.00	(0.89)	0.00	0.00	0.51	(0.38)	3.67
MMCBX	0.24	0.01	0.26	0.16	0.24	(0.27)	0.56	(0.45)	1.37
PACEX	0.12	0.01	0.47	(0.32)	0.00	(0.20)	0.33	(0.22)	0.76
DLGBX	0.24	0.00	0.24	(0.07)	0.24	(0.29)	0.49	(0.49)	1.23
DODLX	0.24	0.02	0.27	0.20	0.25	(0.28)	0.56	(0.56)	1.52
TAADX	0.22	0.01	0.26	0.08	0.21	(0.29)	0.50	(0.38)	1.27
VSBIX	0.07	0.01	0.96	4.86	0.00	(0.08)	0.16	(0.12)	0.33

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