Pgim Target Correlations

Mutual Funds . USA . 
Fund . Pgim Target Date
PDAMX Fund   11.77  0.03  0.25%   
The current 90-days correlation between Pgim Target Date and Pgim Jennison International is 0.56 (i.e., Very weak diversification). The correlation of Pgim Target 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 Target Correlation With Market

Almost no diversification

The correlation between Pgim Target Date and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Target Date 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 Target Date. 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 state.

Moving together with Pgim Mutual Fund

  0.96PGFCX Pgim ConservativePairCorr
  0.98PGFEX Pgim Enhanced RetirementPairCorr
  0.88PQCZX Prudential InvestmentPairCorr
  0.88PAHWX Pgim Jennison InternPairCorr
  0.91PAHSX Prudential InvestmentPairCorr
  0.92PAHTX Prudential InvestmentPairCorr
  0.93PAHUX Prudential InvestmentPairCorr
  0.92PAHVX Prudential InvestmentPairCorr
  0.88PAILX Prudential InvestmentPairCorr
  0.88PAINX Pgim Jennison InternPairCorr
  0.88PAIOX Pgim Jennison InternPairCorr
  0.97PDAQX Pgim Target DatePairCorr
  0.97PDALX Pgim Target DatePairCorr
  0.97PDANX Pgim Target DatePairCorr
  0.97VLXVX Vanguard Target RetiPairCorr
  0.96FFIKX Fidelity Freedom IndexPairCorr
  0.96FFIJX Fidelity Freedom IndexPairCorr
  0.97FFSFX Fidelity Freedom 2065PairCorr
  1.0FFSZX Fidelity Freedom 2065PairCorr
  0.96FAVVX Fidelity Freedom IndexPairCorr
  0.97FBMTX American Funds 2065PairCorr
  0.92RCPTX American Funds 2065PairCorr
  0.97FAXTX American Funds 2065PairCorr
  0.92RBEOX American Funds 2065PairCorr
  0.86VTSAX Vanguard Total StockPairCorr
  0.75VFIAX Vanguard 500 IndexPairCorr
  0.78VTSMX Vanguard Total StockPairCorr
  0.86VSTSX Vanguard Total StockPairCorr
  0.78VSMPX Vanguard Total StockPairCorr
  0.78VITSX Vanguard Total StockPairCorr
  0.97VTIAX Vanguard Total InterPairCorr
  0.75VFINX Vanguard 500 IndexPairCorr
  0.83VFFSX Vanguard 500 IndexPairCorr
  0.75VBTLX Vanguard Total BondPairCorr
  0.92SRJQX Jpmorgan SmartretirementPairCorr
  0.9BNMLX Blackrock NationalPairCorr
  0.93VSMAX Vanguard Small CapPairCorr
  0.92GMOZX Gmo High YieldPairCorr
  0.73OPPAX Oppenheimer GlobalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Target 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 Target'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PGFCX  0.22  0.05  0.00  1.37  0.04 
(0.27)
 0.48 
(0.38)
 2.25 
PGFEX  0.41  0.11  0.09 (15.18) 0.35 
(0.45)
 0.82 
(0.73)
 3.37 
PQCZX  0.93  0.13  0.06  0.68  1.20 
(0.97)
 2.02 
(1.69)
 6.30 
PAHWX  0.76  0.06  0.00 (2.99) 1.18 
(0.80)
 1.36 
(1.76)
 6.29 
PAHSX  0.97  0.10  0.03 (0.58) 1.27 
(1.13)
 1.70 
(2.49)
 6.16 
PAHTX  0.96  0.07  0.02  0.32  1.23 
(1.19)
 1.69 
(2.42)
 6.24 
PAHUX  0.96  0.07  0.02  0.33  1.22 
(1.19)
 1.69 
(2.32)
 6.25 
PAHVX  0.95  0.07  0.02  0.34  1.20 
(1.15)
 1.70 
(2.46)
 6.11 
PAILX  0.75  0.00  0.00  0.00  1.19 
(0.80)
 1.32 
(1.68)
 6.38 
PAINX  0.74  0.06  0.00 (2.70) 1.14 
(0.81)
 1.26 
(1.63)
 6.34 

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