Pgim Jennison Correlations

PGKAX Fund

USD 24.45 0.07 0.29%

The current 90-days correlation between Pgim Jennison Technology and Morningstar Growth Etf is 0.79 (i.e., Poor diversification). The correlation of Pgim Jennison 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 Jennison Correlation With Market

Very weak diversification

The correlation between Pgim Jennison Technology and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Jennison Technology 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 Jennison Technology. 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 nation.

Moving together with Pgim Mutual Fund

0.82	VEEA	Veea Inc Symbol Change	Pair Corr
0.8	VISL	Vislink Technologies Earnings Call This Week	Pair Corr
0.62	DVLT	Datavault AI Symbol Change	Pair Corr
0.93	FLYW	Flywire Corp	Pair Corr
0.87	DBX	Dropbox	Pair Corr
0.81	DLO	Dlocal	Pair Corr
0.73	GIB	CGI Inc	Pair Corr
0.69	OSS	One Stop Systems	Pair Corr
0.86	SOS	SOS Limited	Pair Corr
0.9	UIS	Unisys	Pair Corr
0.88	XRX	Xerox Corp	Pair Corr
0.93	XYZ	Block, Inc Symbol Change	Pair Corr
0.93	GLOB	Globant SA	Pair Corr
0.71	YAAS	Youxin Technology	Pair Corr

Moving against Pgim Mutual Fund

0.64	EMKR	EMCORE	Pair Corr
0.61	SWI	SolarWinds Corp	Pair Corr
0.4	HCP	Hashicorp	Pair Corr
0.64	INFN	Infinera	Pair Corr
0.33	XBP	XBP Europe Holdings	Pair Corr
0.31	VSSYW	Versus Systems	Pair Corr

Related Correlations Analysis

	GETFX	ARTSX	MSSGX	PAGLX	SRGAX	VDIGX
GETFX		0.64	0.68	0.92	0.99	0.57	GETFX
ARTSX	0.64		0.87	0.84	0.61	0.3	ARTSX
MSSGX	0.68	0.87		0.88	0.67	0.11	MSSGX
PAGLX	0.92	0.84	0.88		0.9	0.41	PAGLX
SRGAX	0.99	0.61	0.67	0.9		0.57	SRGAX
VDIGX	0.57	0.3	0.11	0.41	0.57		VDIGX
	GETFX	ARTSX	MSSGX	PAGLX	SRGAX	VDIGX

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Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Jennison 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 Jennison'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GETFX	0.59	(0.03)	(0.03)	1.04	(1.20)	3.31
ARTSX	1.18	(0.13)	0.89	2.24	(3.17)	5.69
MSSGX	1.80	(0.18)	(0.11)	3.81	(3.91)	9.53
PAGLX	0.76	(0.05)	(0.06)	1.27	(1.62)	4.65
SRGAX	0.65	(0.03)	(0.03)	1.25	(1.51)	3.64
VDIGX	0.61	(0.04)	0.21	0.95	(1.44)	3.57

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