Pgim Conservative Correlations

PGFCX Fund

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The current 90-days correlation between Pgim Conservative and Prudential Jennison International is 0.55 (i.e., Very weak diversification). The correlation of Pgim Conservative 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 Conservative Correlation With Market

Very good diversification

The correlation between Pgim Conservative Retirement and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Conservative Retirement 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 Conservative Retirement. 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 main economic indicators.

Moving together with Pgim Mutual Fund

0.79	PWJZX	Prudential Jennison	Pair Corr
0.87	PWJAX	Prudential Jennison	Pair Corr
0.79	PWJCX	Prudential Jennison	Pair Corr
0.85	HYSZX	Prudential Short Duration	Pair Corr
0.75	HYSAX	Prudential Short Duration	Pair Corr
0.75	HYSCX	Prudential Short Duration	Pair Corr
0.71	PGAQX	Pgim Esg High	Pair Corr
0.88	PGANX	Pgim Esg High	Pair Corr
0.72	PGAUX	Pgim Esg High	Pair Corr
0.74	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.81	PGIGX	Pgim Esg Short	Pair Corr
0.81	PGIPX	Pgim Esg Short	Pair Corr
0.81	PGIJX	Pgim Esg Short	Pair Corr
0.66	PGIKX	Pgim Esg Short	Pair Corr
0.65	FRFZX	Prudential Floating Rate	Pair Corr
0.63	PGVZX	Prudential Government	Pair Corr
0.64	PHEAX	Prudential Global Total	Pair Corr
0.8	PHEZX	Prudential Global Total	Pair Corr
0.72	PHICX	Prudential Muni High	Pair Corr
0.78	PHIZX	Prudential Muni High	Pair Corr
0.74	PHYZX	Prudential High Yield	Pair Corr
0.8	PHYEX	Pgim High Yield	Pair Corr

Moving against Pgim Mutual Fund

0.36

PGNAX

Jennison Natural Res

Pair Corr

Related Correlations Analysis

	PWJZX	PWJAX	PWJCX	HYSZX	HYSAX	HYSCX	EMDCX	EMDAX	EMDZX	PFSZX
PWJZX		0.92	1.0	0.61	0.59	0.59	0.42	0.43	0.43	0.7	PWJZX
PWJAX	0.92		0.91	0.63	0.63	0.62	0.45	0.46	0.47	0.63	PWJAX
PWJCX	1.0	0.91		0.61	0.57	0.6	0.38	0.42	0.43	0.71	PWJCX
HYSZX	0.61	0.63	0.61		0.78	0.82	0.55	0.6	0.61	0.18	HYSZX
HYSAX	0.59	0.63	0.57	0.78		0.94	0.84	0.84	0.83	0.11	HYSAX
HYSCX	0.59	0.62	0.6	0.82	0.94		0.75	0.84	0.84	0.14	HYSCX
EMDCX	0.42	0.45	0.38	0.55	0.84	0.75		0.96	0.96	-0.2	EMDCX
EMDAX	0.43	0.46	0.42	0.6	0.84	0.84	0.96		1.0	-0.19	EMDAX
EMDZX	0.43	0.47	0.43	0.61	0.83	0.84	0.96	1.0		-0.18	EMDZX
PFSZX	0.7	0.63	0.71	0.18	0.11	0.14	-0.2	-0.19	-0.18		PFSZX
	PWJZX	PWJAX	PWJCX	HYSZX	HYSAX	HYSCX	EMDCX	EMDAX	EMDZX	PFSZX

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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

PWJCX	+ 1.0	PWJZX
EMDZX	+ 1.0	EMDAX
EMDAX	+ 0.96	EMDCX
EMDZX	+ 0.96	EMDCX
HYSCX	+ 0.94	HYSAX
PWJAX	+ 0.92	PWJZX

High negative correlations

PFSZX	- 0.2	EMDCX
PFSZX	- 0.19	EMDAX
PFSZX	- 0.18	EMDZX

Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Conservative 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 Conservative'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
PWJZX	1.00	0.02	0.03	(0.28)	1.53	(0.92)	1.81	(2.35)	5.86
PWJAX	1.00	0.02	0.03	(0.29)	1.53	(0.92)	1.82	(2.33)	5.89
PWJCX	0.98	0.04	0.03	0.03	1.53	(0.89)	1.83	(2.33)	5.84
HYSZX	0.13	0.02	0.21	0.17	0.00	(0.21)	0.48	(0.24)	1.08
HYSAX	0.13	0.02	0.24	0.19	0.00	(0.22)	0.48	(0.24)	0.96
HYSCX	0.12	0.02	0.27	0.21	0.00	(0.19)	0.36	(0.24)	0.73
EMDCX	0.32	0.04	0.17	0.42	0.19	(0.45)	0.67	(0.45)	1.80
EMDAX	0.29	0.05	0.21	0.65	0.03	(0.47)	0.69	(0.45)	1.59
EMDZX	0.29	0.05	0.19	0.62	0.11	(0.44)	0.67	(0.45)	1.79
PFSZX	0.88	0.02	0.01	(0.01)	1.30	(0.87)	1.84	(2.05)	6.11

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