Pgim Esg Correlations

PGANX Fund

USD 8.95 0.01 0.11%

The current 90-days correlation between Pgim Esg High and Pace High Yield is 0.49 (i.e., Very weak diversification). The correlation of Pgim Esg 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 Esg Correlation With Market

Modest diversification

The correlation between Pgim Esg High and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Esg High 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 Esg High. 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 board of governors.

Moving together with Pgim Mutual Fund

0.73	HYSZX	Prudential Short Duration	Pair Corr
0.72	HYSAX	Prudential Short Duration	Pair Corr
0.71	HYSCX	Prudential Short Duration	Pair Corr
0.75	PGAQX	Pgim Esg High	Pair Corr
0.75	PGAUX	Pgim Esg High	Pair Corr
0.76	PGAVX	Pgim Esg High	Pair Corr
0.68	PGFEX	Pgim Enhanced Retirement	Pair Corr

Moving against Pgim Mutual Fund

0.51	PHSZX	Prudential Health	Pair Corr
0.47	PHLCX	Prudential Health	Pair Corr
0.46	PHLAX	Prudential Health	Pair Corr

Related Correlations Analysis

	PHDTX	WAHSX	SGYAX	RSHMX	GHYSX	CYBAX
PHDTX		0.95	0.93	0.18	0.24	0.83	PHDTX
WAHSX	0.95		0.92	0.32	0.39	0.94	WAHSX
SGYAX	0.93	0.92		0.1	0.2	0.78	SGYAX
RSHMX	0.18	0.32	0.1		0.84	0.5	RSHMX
GHYSX	0.24	0.39	0.2	0.84		0.5	GHYSX
CYBAX	0.83	0.94	0.78	0.5	0.5		CYBAX
	PHDTX	WAHSX	SGYAX	RSHMX	GHYSX	CYBAX

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Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Esg 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 Esg'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
PHDTX	0.09	0.01	(0.63)	0.33	0.00	(0.15)	0.23	(0.22)	0.56
WAHSX	0.13	0.03	(0.50)	(2.36)	0.00	(0.25)	0.43	(0.14)	0.86
SGYAX	0.14	0.02	(0.47)	0.45	0.00	(0.25)	0.28	(0.14)	1.28
RSHMX	0.25	0.03	(0.21)	(0.12)	0.36	(0.28)	0.53	(0.52)	1.98
GHYSX	0.16	0.00	(0.23)	0.06	0.26	(0.23)	0.43	(0.43)	1.72
CYBAX	0.10	0.01	(0.85)	(2.24)	0.00	(0.13)	0.24	(0.16)	0.73

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