PGIM ETF Correlations

PTRB Etf

USD 41.60 0.03 0.07%

The current 90-days correlation between PGIM ETF Trust and SSGA Active Trust is 0.07 (i.e., Significant diversification). The correlation of PGIM ETF 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 ETF Correlation With Market

Very good diversification

The correlation between PGIM ETF Trust and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PGIM ETF Trust 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 ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with PGIM Etf

0.95	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.95	FIXD	First Trust TCW	Pair Corr
1.0	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.95	TOTL	SPDR DoubleLine Total	Pair Corr
0.95	HTRB	Hartford Total Return	Pair Corr
0.96	GTO	Invesco Total Return	Pair Corr
1.0	EUSB	iShares Trust	Pair Corr
0.95	JCPB	JPMorgan Core Plus Sell-off Trend	Pair Corr
0.99	VBND	Vident Core Bond	Pair Corr
0.94	CGCP	Capital Group Core Sell-off Trend	Pair Corr
0.9	FXY	Invesco CurrencyShares	Pair Corr
0.95	PMBS	PIMCO Mortgage Backed	Pair Corr
0.69	IDOG	ALPS International Sector	Pair Corr
0.8	INTF	iShares Edge MSCI	Pair Corr
0.74	TRV	The Travelers Companies	Pair Corr
0.79	PG	Procter Gamble	Pair Corr
0.87	VZ	Verizon Communications Aggressive Push	Pair Corr
0.73	T	ATT Inc	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr

Moving against PGIM Etf

0.32	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.36	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.46	0.68	-0.53	0.66	0.2	-0.15	0.89	-0.83	0.0	META
MSFT	-0.46		-0.68	0.54	-0.72	0.45	0.83	-0.43	0.62	0.05	MSFT
UBER	0.68	-0.68		-0.35	0.79	-0.2	-0.59	0.7	-0.8	0.35	UBER
F	-0.53	0.54	-0.35		-0.35	0.25	0.43	-0.39	0.66	0.55	F
T	0.66	-0.72	0.79	-0.35		-0.41	-0.58	0.56	-0.73	0.14	T
A	0.2	0.45	-0.2	0.25	-0.41		0.55	0.39	0.14	0.13	A
CRM	-0.15	0.83	-0.59	0.43	-0.58	0.55		-0.18	0.44	0.04	CRM
JPM	0.89	-0.43	0.7	-0.39	0.56	0.39	-0.18		-0.77	0.14	JPM
MRK	-0.83	0.62	-0.8	0.66	-0.73	0.14	0.44	-0.77		0.01	MRK
XOM	0.0	0.05	0.35	0.55	0.14	0.13	0.04	0.14	0.01		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

JPM	+ 0.89	META
CRM	+ 0.83	MSFT
T	+ 0.79	UBER
JPM	+ 0.7	UBER
UBER	+ 0.68	META
T	+ 0.66	META

High negative correlations

MRK	- 0.83	META
MRK	- 0.8	UBER
MRK	- 0.77	JPM
MRK	- 0.73	T
T	- 0.72	MSFT
UBER	- 0.68	MSFT

PGIM ETF Competition Risk-Adjusted Indicators

There is a big difference between PGIM Etf performing well and PGIM ETF 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 ETF'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	1.49	0.20	0.11	0.18	1.74	(1.47)	3.22	(2.31)	8.58
MSFT	1.06	(0.07)	0.00	(0.23)	0.00	0.00	2.56	(2.14)	10.31
UBER	1.95	0.12	0.06	1.22	2.80	(1.97)	4.72	(3.13)	12.28
F	1.42	(0.04)	0.00	(0.11)	0.00	0.00	2.71	(2.89)	10.14
T	1.05	0.31	0.21	0.42	1.34	(1.17)	2.10	(1.97)	11.66
A	1.10	(0.07)	0.00	(0.18)	0.00	0.00	2.80	(2.53)	9.03
CRM	1.44	(0.15)	0.00	(0.26)	0.00	0.00	2.21	(2.95)	15.92
JPM	1.01	0.03	0.00	(0.04)	0.00	0.00	1.97	(1.98)	6.85
MRK	1.22	(0.09)	0.00	(18.91)	0.00	0.00	2.15	(2.24)	11.57
XOM	0.98	(0.07)	0.00	(0.23)	0.00	0.00	1.92	(2.50)	5.89

Trending Assets

INMU

BlackRock Intermediate

23.81 -0.01 -0.04

OBND

SSGA Active Trust

25.95 0.03 0.12

LQDB

iShares BBB Rated

85.81 -0.1 -0.12

HYMU

BlackRock High Yield

22.91 -0.02 -0.09

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