Pgim Jennison Correlations

PGKCX Fund

USD 24.41 0.39 1.57%

The current 90-days correlation between Pgim Jennison Technology and Alternative Asset Allocation is 0.66 (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

Modest diversification

The correlation between Pgim Jennison Technology 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 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 main economic indicators.

Moving together with PGIM Mutual Fund

0.74	DBD	Diebold Nixdorf,	Pair Corr
0.62	CORZZ	Core Scientific, Tranche	Pair Corr

Moving against PGIM Mutual Fund

0.42	NVNIW	Nvni Group Limited	Pair Corr
0.41	MIND	Mind Technology	Pair Corr
0.37	LKCO	Luokung Technology Corp	Pair Corr
0.36	EXOD	Exodus Movement,	Pair Corr
0.36	HPAIW	Helport AI Limited	Pair Corr
0.55	SCWX	Secureworks Corp	Pair Corr
0.4	RZLVW	Rezolve AI Limited	Pair Corr
0.36	ZEOWW	Zeo Energy Corp Symbol Change	Pair Corr

Related Correlations Analysis

	JAAIX	PIEQX	EMSLX	DIHRX	GQESX	PRVBX
JAAIX		0.89	0.61	0.9	0.58	0.87	JAAIX
PIEQX	0.89		0.79	0.96	0.66	0.9	PIEQX
EMSLX	0.61	0.79		0.79	0.61	0.58	EMSLX
DIHRX	0.9	0.96	0.79		0.74	0.87	DIHRX
GQESX	0.58	0.66	0.61	0.74		0.58	GQESX
PRVBX	0.87	0.9	0.58	0.87	0.58		PRVBX
	JAAIX	PIEQX	EMSLX	DIHRX	GQESX	PRVBX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JAAIX	0.15	0.02	0.06	0.19	0.04	(0.21)	0.31	(0.25)	1.13
PIEQX	0.55	0.10	0.12	(0.76)	0.63	(0.64)	1.16	(0.94)	3.81
EMSLX	0.62	0.03	0.03	0.17	0.86	(0.60)	1.25	(1.34)	3.66
DIHRX	0.53	0.09	0.12	0.24	0.57	(0.60)	1.16	(0.99)	3.68
GQESX	0.52	0.00	(0.01)	0.00	1.03	(0.45)	0.91	(1.27)	4.58
PRVBX	0.10	0.01	0.02	(0.50)	0.00	(0.13)	0.25	(0.17)	0.58

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC