Pgim Enhanced Correlations

PGFEX Fund

10.90 0.04 0.37%

The current 90-days correlation between Pgim Enhanced Retirement and Towpath Technology is 0.73 (i.e., Poor diversification). The correlation of Pgim Enhanced 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 Enhanced Correlation With Market

Significant diversification

The correlation between Pgim Enhanced Retirement and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Enhanced Retirement 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 Enhanced Retirement. 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 income.

Moving together with Pgim Mutual Fund

0.75	HYSZX	Prudential Short Duration	Pair Corr
0.74	HYSAX	Prudential Short Duration	Pair Corr
0.71	HYSCX	Prudential Short Duration	Pair Corr
0.78	PGAQX	Pgim Esg High	Pair Corr
0.79	PGANX	Pgim Esg High	Pair Corr
0.82	PGAUX	Pgim Esg High	Pair Corr
0.81	PGAVX	Pgim Esg High	Pair Corr
0.88	PGFCX	Pgim Conservative	Pair Corr
0.87	PGJAX	Prudential Jennison	Pair Corr
0.87	PGJCX	Prudential Jennison	Pair Corr
0.83	PGJZX	Prudential Jennison	Pair Corr
0.71	PGKZX	Pgim Jennison Technology	Pair Corr
0.65	PGNAX	Jennison Natural Res	Pair Corr

Moving against Pgim Mutual Fund

0.42	PHLCX	Prudential Health	Pair Corr
0.42	PHSZX	Prudential Health	Pair Corr
0.37	PHLAX	Prudential Health	Pair Corr

Related Correlations Analysis

	TOWTX	VITAX	JGLTX	DRGTX	PGKCX	ROGSX
TOWTX		0.8	0.79	0.87	0.9	0.84	TOWTX
VITAX	0.8		0.99	0.93	0.94	0.93	VITAX
JGLTX	0.79	0.99		0.93	0.93	0.94	JGLTX
DRGTX	0.87	0.93	0.93		0.98	0.85	DRGTX
PGKCX	0.9	0.94	0.93	0.98		0.87	PGKCX
ROGSX	0.84	0.93	0.94	0.85	0.87		ROGSX
	TOWTX	VITAX	JGLTX	DRGTX	PGKCX	ROGSX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Enhanced 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 Enhanced'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
TOWTX	0.53	0.04	(0.09)	0.66	0.73	(0.56)	1.08	(1.32)	3.71
VITAX	0.94	(0.03)	(0.01)	0.09	1.41	(0.90)	1.98	(2.45)	6.25
JGLTX	0.89	(0.04)	(0.03)	0.08	1.36	(0.85)	1.87	(2.61)	5.92
DRGTX	0.97	0.17	0.02	(2.65)	1.52	(0.90)	1.80	(2.47)	6.64
PGKCX	1.04	0.15	0.02	23.31	1.55	(1.02)	2.27	(2.67)	6.31
ROGSX	0.86	(0.09)	(0.06)	0.03	1.35	(0.84)	1.70	(2.51)	5.59

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