Pgim Target Correlations

Mutual Funds USA . 
Fund . Pgim Target Date
PDAQX Fund   11.50  0.12  1.05%   
The current 90-days correlation between Pgim Target Date and Nuveen Intermediate Duration is 0.08 (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

Poor diversification

The correlation between Pgim Target Date and DJI is 0.65 (i.e., 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 producer price index.

Moving together with Pgim Mutual Fund

  0.76VLXVX Vanguard Target RetiPairCorr
  0.77FFIKX Fidelity Freedom IndexPairCorr
  0.77FFIJX Fidelity Freedom IndexPairCorr
  0.75FFSFX Fidelity Freedom 2065PairCorr
  0.75FFSZX Fidelity Freedom 2065PairCorr
  0.68FAVVX Fidelity Freedom IndexPairCorr
  0.7FBMTX American Funds 2065PairCorr
  0.77RCPTX American Funds 2065PairCorr
  0.77FAXTX American Funds 2065PairCorr
  0.77RBEOX American Funds 2065PairCorr
  0.67GPBFX Gmo E PlusPairCorr
  0.84GPMFX Guidepath Managed FuturesPairCorr
  0.62PQTAX Pimco Trends ManagedPairCorr
  0.63PQTNX Pimco Trends ManagedPairCorr
  0.63PQTIX Aa Pimco TrPairCorr
  0.81WARCX Wells Fargo AdvantagePairCorr
  0.71TRRVX T Rowe PricePairCorr
  0.73PAUIX Pimco All AssetPairCorr
  0.62PCIEX Pace International EquityPairCorr
  0.65AOFAX Alger Small CapPairCorr
  0.66RWICX Capital World GrowthPairCorr
  0.72HAVLX Harbor Large CapPairCorr
  0.69PATRX Pimco All AssetPairCorr
  0.68JHRNX Retirement Living ThroughPairCorr
  0.74PAUPX Pimco All AssetPairCorr
  0.76FFOLX Fidelity Freedom IndexPairCorr

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.

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