Pgim Enhanced Correlations

PGFEX Fund

10.56 0.09 0.86%

The current 90-days correlation between Pgim Enhanced Retirement and Ab Global Bond is 0.16 (i.e., Average diversification). The correlation of Pgim Enhanced 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 Enhanced Correlation With Market

Very good diversification

The correlation between Pgim Enhanced Retirement and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Enhanced 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 Enhanced 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 income.

Moving together with Pgim Mutual Fund

0.93	PWJZX	Prudential Jennison	Pair Corr
0.85	PWJAX	Prudential Jennison	Pair Corr
0.85	PWJCX	Prudential Jennison	Pair Corr
0.69	PFSZX	Prudential Financial	Pair Corr
0.68	PFSAX	Prudential Financial	Pair Corr
0.66	PGAQX	Pgim Esg High	Pair Corr
0.66	PGANX	Pgim Esg High	Pair Corr
0.67	PGAUX	Pgim Esg High	Pair Corr
0.65	PGAVX	Pgim Esg High	Pair Corr
0.9	PGFCX	Pgim Conservative	Pair Corr
0.62	PGJAX	Prudential Jennison	Pair Corr
0.61	PGJCX	Prudential Jennison	Pair Corr
0.62	PGJZX	Prudential Jennison	Pair Corr
0.62	PGIGX	Pgim Esg Short	Pair Corr
0.61	PGIPX	Pgim Esg Short	Pair Corr
0.65	PGIJX	Pgim Esg Short	Pair Corr
0.62	FRFZX	Prudential Floating Rate	Pair Corr
0.61	FRFAX	Prudential Floating Rate	Pair Corr
0.66	FRFCX	Prudential Floating Rate	Pair Corr
0.7	PHICX	Prudential Muni High	Pair Corr
0.68	PHIZX	Prudential Muni High	Pair Corr

Related Correlations Analysis

	ANAGX	SMYIX	LFLCX	SGICX	LMLRX	BXFIX	DBIWX
ANAGX		-0.03	0.92	0.04	0.44	0.69	0.85	ANAGX
SMYIX	-0.03		-0.03	0.42	0.84	0.2	0.23	SMYIX
LFLCX	0.92	-0.03		-0.02	0.47	0.72	0.94	LFLCX
SGICX	0.04	0.42	-0.02		0.3	-0.12	0.07	SGICX
LMLRX	0.44	0.84	0.47	0.3		0.52	0.67	LMLRX
BXFIX	0.69	0.2	0.72	-0.12	0.52		0.73	BXFIX
DBIWX	0.85	0.23	0.94	0.07	0.67	0.73		DBIWX
	ANAGX	SMYIX	LFLCX	SGICX	LMLRX	BXFIX	DBIWX

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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

DBIWX	+ 0.94	LFLCX
LFLCX	+ 0.92	ANAGX
DBIWX	+ 0.85	ANAGX
LMLRX	+ 0.84	SMYIX
DBIWX	+ 0.73	BXFIX
BXFIX	+ 0.72	LFLCX

High negative correlations

BXFIX	- 0.12	SGICX
LFLCX	- 0.03	SMYIX
SMYIX	- 0.03	ANAGX
SGICX	- 0.02	LFLCX

Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Enhanced 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 Enhanced'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
ANAGX	0.18	0.00	0.12	0.04	0.19	(0.27)	0.44	(0.44)	1.46
SMYIX	0.84	(0.05)	0.00	(0.08)	0.00	0.00	1.57	(1.72)	4.51
LFLCX	0.18	0.01	0.18	(0.39)	0.15	(0.21)	0.43	(0.33)	0.98
SGICX	0.92	(0.32)	0.00	(1.88)	0.00	0.00	1.09	(1.37)	19.11
LMLRX	0.33	(0.01)	0.00	(0.07)	0.00	0.00	0.61	(0.69)	2.17
BXFIX	0.08	(0.01)	0.21	0.27	0.06	(0.28)	0.23	(0.12)	0.93
DBIWX	0.26	0.01	0.12	(0.17)	0.32	(0.28)	0.48	(0.58)	1.77

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