Pgim Target Correlations

PDAQX Fund

11.75 0.03 0.26%

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 0.95 (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 producer price index.

Moving together with Pgim Mutual Fund

0.96	PGFCX	Pgim Conservative	Pair Corr
0.98	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.87	PQCZX	Prudential Investment	Pair Corr
0.89	PAHWX	Pgim Jennison Intern	Pair Corr
0.93	PAHSX	Prudential Investment	Pair Corr
0.93	PAHTX	Prudential Investment	Pair Corr
0.93	PAHUX	Prudential Investment	Pair Corr
0.93	PAHVX	Prudential Investment	Pair Corr
0.89	PAILX	Prudential Investment	Pair Corr
0.89	PAINX	Pgim Jennison Intern	Pair Corr
0.89	PAIOX	Pgim Jennison Intern	Pair Corr
1.0	PDAMX	Pgim Target Date	Pair Corr
1.0	PDANX	Pgim Target Date	Pair Corr
1.0	VLXVX	Vanguard Target Reti	Pair Corr
1.0	FFIKX	Fidelity Freedom Index	Pair Corr
1.0	FFIJX	Fidelity Freedom Index	Pair Corr
1.0	FFSFX	Fidelity Freedom 2065	Pair Corr
1.0	FFSZX	Fidelity Freedom 2065	Pair Corr
1.0	FAVVX	Fidelity Freedom Index	Pair Corr
0.97	FBMTX	American Funds 2065	Pair Corr
0.97	RCPTX	American Funds 2065	Pair Corr
0.97	FAXTX	American Funds 2065	Pair Corr
0.97	RBEOX	American Funds 2065	Pair Corr
0.87	VTSAX	Vanguard Total Stock	Pair Corr
0.85	VFIAX	Vanguard 500 Index	Pair Corr
0.87	VTSMX	Vanguard Total Stock	Pair Corr
0.88	VSTSX	Vanguard Total Stock	Pair Corr
0.87	VSMPX	Vanguard Total Stock	Pair Corr
0.87	VITSX	Vanguard Total Stock	Pair Corr
0.98	VTIAX	Vanguard Total Inter	Pair Corr
0.85	VFINX	Vanguard 500 Index	Pair Corr
0.85	VFFSX	Vanguard 500 Index	Pair Corr
0.74	VBTLX	Vanguard Total Bond	Pair Corr
0.94	SRJQX	Jpmorgan Smartretirement	Pair Corr
0.89	BNMLX	Blackrock National	Pair Corr
0.97	VSMAX	Vanguard Small Cap	Pair Corr
0.94	GMOZX	Gmo High Yield	Pair Corr
0.74	OPPAX	Oppenheimer Global	Pair Corr
0.94	TFTIX	Tiaa Cref Lifecycle	Pair Corr

Related Correlations Analysis

	PGFCX	PGFEX	PQCZX	PAHWX	PAHSX	PAHTX	PAHUX	PAHVX	PAILX	PAINX
PGFCX		1.0	0.87	0.84	0.87	0.86	0.87	0.87	0.83	0.84	PGFCX
PGFEX	1.0		0.89	0.87	0.9	0.89	0.9	0.9	0.87	0.87	PGFEX
PQCZX	0.87	0.89		0.88	0.86	0.86	0.86	0.86	0.87	0.88	PQCZX
PAHWX	0.84	0.87	0.88		0.95	0.95	0.95	0.95	1.0	1.0	PAHWX
PAHSX	0.87	0.9	0.86	0.95		1.0	1.0	1.0	0.95	0.95	PAHSX
PAHTX	0.86	0.89	0.86	0.95	1.0		1.0	1.0	0.95	0.95	PAHTX
PAHUX	0.87	0.9	0.86	0.95	1.0	1.0		1.0	0.95	0.95	PAHUX
PAHVX	0.87	0.9	0.86	0.95	1.0	1.0	1.0		0.95	0.95	PAHVX
PAILX	0.83	0.87	0.87	1.0	0.95	0.95	0.95	0.95		1.0	PAILX
PAINX	0.84	0.87	0.88	1.0	0.95	0.95	0.95	0.95	1.0		PAINX
	PGFCX	PGFEX	PQCZX	PAHWX	PAHSX	PAHTX	PAHUX	PAHVX	PAILX	PAINX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PGFCX	0.22	0.05	0.00	0.24	0.00	(0.26)	0.48	(0.38)	2.25
PGFEX	0.41	0.08	0.08	0.21	0.34	(0.46)	0.82	(0.73)	3.37
PQCZX	0.88	0.12	0.05	0.62	1.19	(0.94)	1.70	(1.69)	6.30
PAHWX	0.77	0.02	(0.01)	0.10	1.21	(0.79)	1.36	(1.76)	6.29
PAHSX	0.98	0.04	0.01	0.12	1.28	(1.13)	1.70	(2.49)	6.16
PAHTX	0.98	0.04	0.01	0.12	1.26	(1.17)	1.69	(2.42)	6.24
PAHUX	0.98	0.04	0.01	0.13	1.25	(1.17)	1.69	(2.32)	6.25
PAHVX	0.97	0.04	0.01	0.13	1.24	(1.12)	1.70	(2.46)	6.11
PAILX	0.77	0.02	(0.01)	0.10	1.21	(0.78)	1.32	(1.68)	6.38
PAINX	0.76	0.03	(0.01)	0.12	1.17	(0.80)	1.26	(1.63)	6.34

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Pgim Target Correlations

Pgim Target Correlation With Market

Almost no diversification

Moving together with Pgim Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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