PGIM Short Correlations

PSH Etf

50.69 0.05 0.1%

The current 90-days correlation between PGIM Short Duration and BondBloxx ETF Trust is 0.18 (i.e., Average diversification). The correlation of PGIM Short 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.

PGIM Short Correlation With Market

Good diversification

The correlation between PGIM Short Duration and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PGIM Short Duration 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 Short Duration. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with PGIM Etf

0.81	USHY	iShares Broad USD	Pair Corr
0.79	JNK	SPDR Bloomberg High	Pair Corr
0.89	HYLB	Xtrackers USD High	Pair Corr
0.71	SIXD	AIM ETF Products	Pair Corr
0.62	BA	Boeing	Pair Corr
0.89	AXP	American Express	Pair Corr
0.78	WMT	Walmart Aggressive Push	Pair Corr
0.85	MMM	3M Company	Pair Corr

Moving against PGIM Etf

0.78	VIIX	VIIX	Pair Corr
0.52	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.44	YCL	ProShares Ultra Yen	Pair Corr
0.4	ULE	ProShares Ultra Euro	Pair Corr
0.59	HPQ	HP Inc	Pair Corr
0.58	JNJ	Johnson Johnson	Pair Corr
0.58	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.51	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.49	AA	Alcoa Corp	Pair Corr
0.46	MRK	Merck Company Earnings Call This Week	Pair Corr
0.38	MCD	McDonalds Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	-0.43	-0.44	0.58	0.51	0.5	0.62	-0.15	-0.63	META
MSFT	0.62		-0.46	-0.22	0.48	0.27	0.6	0.3	-0.01	-0.46	MSFT
UBER	-0.43	-0.46		0.5	-0.3	0.28	-0.71	-0.25	0.31	0.78	UBER
F	-0.44	-0.22	0.5		0.15	-0.3	0.01	0.08	-0.09	0.84	F
T	0.58	0.48	-0.3	0.15		0.11	0.67	0.59	-0.17	-0.17	T
A	0.51	0.27	0.28	-0.3	0.11		-0.27	0.23	0.26	-0.16	A
CRM	0.5	0.6	-0.71	0.01	0.67	-0.27		0.5	-0.29	-0.41	CRM
JPM	0.62	0.3	-0.25	0.08	0.59	0.23	0.5		-0.55	-0.24	JPM
MRK	-0.15	-0.01	0.31	-0.09	-0.17	0.26	-0.29	-0.55		0.16	MRK
XOM	-0.63	-0.46	0.78	0.84	-0.17	-0.16	-0.41	-0.24	0.16		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

XOM	+ 0.84	F
XOM	+ 0.78	UBER
CRM	+ 0.67	T
MSFT	+ 0.62	META
JPM	+ 0.62	META
CRM	+ 0.6	MSFT

High negative correlations

CRM	- 0.71	UBER
XOM	- 0.63	META
MRK	- 0.55	JPM
XOM	- 0.46	MSFT
UBER	- 0.46	MSFT
F	- 0.44	META

PGIM Short Competition Risk-Adjusted Indicators

There is a big difference between PGIM Etf performing well and PGIM Short ETF 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 Short'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
META	1.41	0.26	0.13	0.73	1.40	(1.61)	3.43	(2.31)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.56	(0.23)	0.00	(3.08)	0.00	0.00	2.67	(5.35)	12.29
F	1.35	(0.04)	(0.04)	0.03	1.75	(1.43)	2.46	(2.89)	9.39
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.18	0.12	0.06	0.32	1.14	(1.39)	2.81	(2.16)	5.70
CRM	1.51	0.34	0.15	2.71	1.42	(1.76)	3.70	(2.88)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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