Pgim Esg Correlations

PGIKX Fund

9.87 0.01 0.10%

The current 90-days correlation between Pgim Esg Short and Vanguard Short Term Bond is 0.04 (i.e., Significant 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

Significant diversification

The correlation between Pgim Esg Short and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Esg Short 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 Short. 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 industry.

Moving together with Pgim Mutual Fund

0.89	HYSZX	Prudential Short Duration	Pair Corr
0.88	HYSAX	Prudential Short Duration	Pair Corr
0.84	HYSCX	Prudential Short Duration	Pair Corr
0.89	PGAQX	Pgim Esg High	Pair Corr
0.85	PGANX	Pgim Esg High	Pair Corr
0.83	PGAUX	Pgim Esg High	Pair Corr
0.87	PGAVX	Pgim Esg High	Pair Corr
0.93	PGIGX	Pgim Esg Short	Pair Corr
0.95	PGIPX	Pgim Esg Short	Pair Corr
0.98	PGIJX	Pgim Esg Short	Pair Corr
0.89	FRFZX	Prudential Floating Rate	Pair Corr
0.9	FRFAX	Prudential Floating Rate	Pair Corr
0.9	FRFCX	Prudential Floating Rate	Pair Corr

Moving against Pgim Mutual Fund

0.38	PGJCX	Prudential Jennison	Pair Corr
0.37	PGJAX	Prudential Jennison	Pair Corr
0.36	PGJZX	Prudential Jennison	Pair Corr
0.34	EMDAX	Prudential Emerging	Pair Corr
0.33	EMDZX	Prudential Emerging	Pair Corr
0.32	EMDCX	Prudential Emerging	Pair Corr
0.61	PHLCX	Prudential Health	Pair Corr
0.57	PHLAX	Prudential Health	Pair Corr
0.55	PHSZX	Prudential Health	Pair Corr
0.51	SUVCX	Prudential Qma Strategic	Pair Corr
0.49	SUVAX	Prudential Qma Strategic	Pair Corr
0.49	PJDCX	Prudential Jennison	Pair Corr
0.48	SUVZX	Prudential Qma Strategic	Pair Corr
0.48	PJDZX	Prudential Jennison	Pair Corr
0.45	PJECX	Prudential Real Estate	Pair Corr
0.44	PJEAX	Prudential Real Estate	Pair Corr
0.42	PJFZX	Prudential Jennison	Pair Corr

Related Correlations Analysis

	VBIRX	VFSUX	VFSIX	VFSTX	VBITX	VBISX	LALDX	VSCSX	LDLAX	LDLRX
VBIRX		0.89	0.77	0.77	0.79	0.78	0.69	0.78	0.8	0.81	VBIRX
VFSUX	0.89		0.9	0.9	0.89	0.88	0.71	0.88	0.81	0.87	VFSUX
VFSIX	0.77	0.9		1.0	0.98	0.97	0.79	0.94	0.75	0.87	VFSIX
VFSTX	0.77	0.9	1.0		0.98	0.97	0.79	0.94	0.75	0.87	VFSTX
VBITX	0.79	0.89	0.98	0.98		0.99	0.73	0.93	0.72	0.85	VBITX
VBISX	0.78	0.88	0.97	0.97	0.99		0.72	0.92	0.7	0.84	VBISX
LALDX	0.69	0.71	0.79	0.79	0.73	0.72		0.75	0.88	0.85	LALDX
VSCSX	0.78	0.88	0.94	0.94	0.93	0.92	0.75		0.76	0.86	VSCSX
LDLAX	0.8	0.81	0.75	0.75	0.72	0.7	0.88	0.76		0.92	LDLAX
LDLRX	0.81	0.87	0.87	0.87	0.85	0.84	0.85	0.86	0.92		LDLRX
	VBIRX	VFSUX	VFSIX	VFSTX	VBITX	VBISX	LALDX	VSCSX	LDLAX	LDLRX

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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
VBIRX	0.11	0.00	(0.63)	0.17	0.04	(0.18)	0.30	(0.20)	0.69
VFSUX	0.12	0.00	(0.54)	0.06	0.04	(0.20)	0.39	(0.20)	0.88
VFSIX	0.12	0.00	(0.55)	0.05	0.04	(0.20)	0.39	(0.20)	0.88
VFSTX	0.12	0.00	(0.55)	0.05	0.04	(0.20)	0.39	(0.20)	0.88
VBITX	0.10	0.00	(0.63)	(0.12)	0.05	(0.18)	0.30	(0.20)	0.69
VBISX	0.10	0.00	(0.59)	(0.12)	0.06	(0.18)	0.30	(0.20)	0.79
LALDX	0.10	0.01	(0.29)	(0.32)	0.00	(0.31)	0.26	(0.26)	0.78
VSCSX	0.10	0.00	(0.73)	0.08	0.00	(0.14)	0.24	(0.14)	0.71
LDLAX	0.08	0.00	(0.28)	0.00	0.00	(0.36)	0.26	(0.26)	0.78
LDLRX	0.07	0.00	(0.31)	0.04	0.00	(0.29)	0.26	(0.26)	0.78

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