Pgim Jennison Correlations

PGKAX Fund

USD 27.64 0.36 1.32%

The current 90-days correlation between Pgim Jennison Technology and Morningstar Aggressive Growth is 0.71 (i.e., Poor diversification). The correlation of Pgim Jennison 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 Jennison Correlation With Market

Modest diversification

The correlation between Pgim Jennison Technology and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Jennison Technology 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 Jennison Technology. 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 nation.

Moving together with Pgim Mutual Fund

0.64	EACO	Eaco Corp Tech Boost	Pair Corr
0.65	FUJIY	FUJIFILM Holdings Corp	Pair Corr

Moving against Pgim Mutual Fund

0.54	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.48	VEEA	Veea Inc Symbol Change	Pair Corr
0.4	FOXX	Foxx Development Holdings Downward Rally	Pair Corr
0.39	VIDE	Video Display Earnings Call Tomorrow	Pair Corr
0.35	DLPX	Delphax Technologies	Pair Corr
0.33	EVOL	Evolving Systems	Pair Corr
0.46	WCT	Wellchange Holdings	Pair Corr
0.33	KBNT	Kubient	Pair Corr

Related Correlations Analysis

	AGTFX	TEGAX	EIPIX	JLGSX	CVGRX	TRSAX	UPDDX	ARTSX
AGTFX		0.58	0.79	0.96	0.68	0.85	0.01	0.84	AGTFX
TEGAX	0.58		0.76	0.7	0.76	0.75	0.56	0.75	TEGAX
EIPIX	0.79	0.76		0.79	0.59	0.74	0.08	0.77	EIPIX
JLGSX	0.96	0.7	0.79		0.77	0.87	0.22	0.84	JLGSX
CVGRX	0.68	0.76	0.59	0.77		0.77	0.36	0.69	CVGRX
TRSAX	0.85	0.75	0.74	0.87	0.77		0.14	0.86	TRSAX
UPDDX	0.01	0.56	0.08	0.22	0.36	0.14		0.16	UPDDX
ARTSX	0.84	0.75	0.77	0.84	0.69	0.86	0.16		ARTSX
	AGTFX	TEGAX	EIPIX	JLGSX	CVGRX	TRSAX	UPDDX	ARTSX

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Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Jennison 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 Jennison'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
AGTFX	0.52	(0.04)	0.00	(0.09)	0.00	0.00	0.98	(0.99)	4.38
TEGAX	0.95	0.07	0.04	0.56	1.19	(0.98)	2.13	(1.66)	7.72
EIPIX	0.77	0.03	0.01	0.11	1.53	(0.74)	1.68	(1.09)	9.39
JLGSX	0.44	(0.02)	0.00	(0.06)	0.00	0.00	0.79	(0.84)	3.56
CVGRX	0.89	(0.02)	0.00	(0.06)	0.00	0.00	1.62	(2.15)	8.00
TRSAX	0.90	(0.04)	0.00	(0.11)	0.00	0.00	1.54	(2.26)	8.77
UPDDX	1.29	0.11	0.06	0.73	1.45	(1.41)	2.81	(2.59)	8.50
ARTSX	1.05	(0.01)	(0.01)	(0.01)	1.72	(0.94)	2.14	(2.17)	8.55

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