Pgim Target Correlations

Mutual Funds USA . 
Fund . Pgim Target Date
PDANX Fund   11.37  0.18  1.56%   
The current 90-days correlation between Pgim Target Date and Prudential Jennison International is 0.04 (i.e., Significant 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

Very poor diversification

The correlation between Pgim Target Date and DJI is 0.86 (i.e., Very poor 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 employment.

Moving together with Pgim Mutual Fund

  0.9PGFCX Pgim ConservativePairCorr
  0.92PGFEX Pgim Enhanced RetirementPairCorr
  0.76PQCZX Prudential InvestmentPairCorr
  0.63PAHWX Pgim Jennison InternPairCorr
  0.77PAHSX Prudential InvestmentPairCorr
  0.76PAHTX Prudential InvestmentPairCorr
  0.77PAHUX Prudential InvestmentPairCorr
  0.77PAHVX Prudential InvestmentPairCorr
  0.71PAILX Prudential InvestmentPairCorr
  0.73PAINX Pgim Jennison InternPairCorr
  0.73PAIOX Pgim Jennison InternPairCorr
  0.94PDAQX Pgim Target DatePairCorr
  0.94PDALX Pgim Target DatePairCorr
  0.94PDAMX Pgim Target DatePairCorr
  1.0VLXVX Vanguard Target RetiPairCorr
  1.0FFIKX Fidelity Freedom IndexPairCorr
  0.99FFIJX Fidelity Freedom IndexPairCorr
  1.0FFSFX Fidelity Freedom 2065PairCorr
  0.99FFSZX Fidelity Freedom 2065PairCorr
  0.93FAVVX Fidelity Freedom IndexPairCorr
  0.99FBMTX American Funds 2065PairCorr
  0.99RCPTX American Funds 2065PairCorr
  0.99FAXTX American Funds 2065PairCorr
  0.99RBEOX American Funds 2065PairCorr
  0.88VTSAX Vanguard Total StockPairCorr
  0.92VFIAX Vanguard 500 IndexPairCorr
  0.94VTSMX Vanguard Total StockPairCorr
  0.88VSTSX Vanguard Total StockPairCorr
  0.94VITSX Vanguard Total StockPairCorr
  0.94VSMPX Vanguard Total StockPairCorr
  0.97VTIAX Vanguard Total InterPairCorr
  0.92VFINX Vanguard 500 IndexPairCorr
  0.86VFFSX Vanguard 500 IndexPairCorr
  0.91NEAMX Neiman Large CapPairCorr
  0.84CMGIX Blackrock Mid CapPairCorr
  0.8MSTVX Morningstar AlternativesPairCorr
  0.9TFSAX American Beacon FundsPairCorr
  0.8SMDSX Alpssmith Short DurationPairCorr

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
PWJAX  0.71 (0.01)(0.06) 0.02  0.92 
(0.77)
 1.40 
(1.72)
 3.61 
PWJCX  0.71 (0.10) 0.00 (0.03) 0.00 
 0.00 
 1.40 
(2.13)
 3.59 
EMDCX  0.20  0.02 (0.12) 0.23  0.14 
(0.28)
 0.41 
(0.41)
 1.02 
EMDAX  0.20  0.03 (0.10) 2.46  0.00 
(0.29)
 0.41 
(0.41)
 1.24 
PFSAX  0.89  0.19  0.13  0.51  0.83 
(1.00)
 1.93 
(1.75)
 12.47 
PGFCX  0.21  0.03 (0.08) 0.43  0.09 
(0.25)
 0.38 
(0.38)
 1.89 
PGFEX  0.40  0.08  0.05  0.57  0.29 
(0.44)
 0.82 
(0.64)
 2.86 
FRFZX  0.08  0.02 (0.36) 0.95  0.00 
(0.23)
 0.11 
(0.11)
 0.79 
FRFAX  0.08  0.02 (0.34)(17.36) 0.00 
(0.21)
 0.11 
(0.11)
 0.68 
FRFCX  0.07  0.02 (0.29)(1.25) 0.00 
(0.24)
 0.11 
(0.11)
 0.79 

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