Pgim Esg Correlations

PGAUX Fund

USD 8.91 0.00 0.00%

The current 90-days correlation between Pgim Esg High and Rbb Fund is 0.39 (i.e., Weak 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

Significant diversification

The correlation between Pgim Esg High and DJI is 0.04 (i.e., Significant 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 employment.

Moving together with Pgim Mutual Fund

0.79	PWJZX	Prudential Jennison	Pair Corr
0.78	PWJAX	Prudential Jennison	Pair Corr
0.77	PWJCX	Prudential Jennison	Pair Corr
0.94	HYSZX	Prudential Short Duration	Pair Corr
0.94	HYSAX	Prudential Short Duration	Pair Corr
0.94	HYSCX	Prudential Short Duration	Pair Corr
0.84	EMDCX	Prudential Emerging	Pair Corr
0.85	EMDAX	Prudential Emerging	Pair Corr
1.0	PGAVX	Pgim Esg High	Pair Corr
0.83	PGFCX	Pgim Conservative	Pair Corr
0.67	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.97	PGIGX	Pgim Esg Short	Pair Corr
0.96	PGIPX	Pgim Esg Short	Pair Corr
0.95	PGIJX	Pgim Esg Short	Pair Corr
0.84	FRFZX	Prudential Floating Rate	Pair Corr
0.82	FRFAX	Prudential Floating Rate	Pair Corr
0.78	FRFCX	Prudential Floating Rate	Pair Corr
0.74	PGTOX	Prudential Global Total	Pair Corr
0.77	PGVZX	Prudential Government	Pair Corr
0.79	PGVAX	Prudential Government	Pair Corr
0.85	PHECX	Prudential Global Total	Pair Corr
0.86	PHEAX	Prudential Global Total	Pair Corr
0.77	TGMBX	Prudential Porate Bond	Pair Corr
0.93	PHYZX	Prudential High Yield	Pair Corr
0.96	PHYEX	Pgim High Yield	Pair Corr
0.76	PZTRX	Prudential Global Total	Pair Corr

Moving against Pgim Mutual Fund

0.4	PGKZX	Pgim Jennison Technology	Pair Corr
0.36	PGOAX	Prudential Jennison Small	Pair Corr

Related Correlations Analysis

	OPTCX	HRSTX	SHDAX	FGFAX	EICVX	NWJVX
OPTCX		0.83	0.76	0.76	0.71	0.73	OPTCX
HRSTX	0.83		0.79	0.84	0.74	0.74	HRSTX
SHDAX	0.76	0.79		0.91	0.86	0.96	SHDAX
FGFAX	0.76	0.84	0.91		0.88	0.88	FGFAX
EICVX	0.71	0.74	0.86	0.88		0.87	EICVX
NWJVX	0.73	0.74	0.96	0.88	0.87		NWJVX
	OPTCX	HRSTX	SHDAX	FGFAX	EICVX	NWJVX

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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
OPTCX	0.07	(0.01)	0.29	1.07	0.08	(0.17)	0.21	(0.21)	0.93
HRSTX	0.06	(0.01)	0.21	1.19	0.12	(0.10)	0.12	(0.12)	0.71
SHDAX	0.05	(0.01)	0.32	(0.97)	0.05	(0.20)	0.20	(0.20)	0.40
FGFAX	0.80	0.12	0.19	(1.16)	0.95	(0.85)	1.79	(1.64)	5.93
EICVX	0.59	0.09	0.15	0.10	0.73	(0.61)	1.21	(1.42)	2.93
NWJVX	0.08	0.01	0.69	0.67	0.00	(0.14)	0.20	(0.10)	0.61

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