PGIM Short Correlations

SDHY Stock

USD 16.53 0.06 0.36%

The current 90-days correlation between PGIM Short Duration and Blackrock Muniholdings Closed is 0.13 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

PGIM Short Correlation With Market

Average diversification

The correlation between PGIM Short Duration and DJI is 0.18 (i.e., Average 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 World Market Map to better understand how to build diversified portfolios, which includes a position in PGIM Short Duration. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with PGIM Stock

0.64	DIST	Distoken Acquisition	Pair Corr
0.71	AB	AllianceBernstein	Pair Corr
0.83	AC	Associated Capital	Pair Corr
0.86	BN	Brookfield Corp	Pair Corr
0.75	BX	Blackstone Group Fiscal Year End 23rd of January 2025	Pair Corr
0.88	CG	Carlyle Group	Pair Corr
0.62	DB	Deutsche Bank AG	Pair Corr
0.64	GS	Goldman Sachs Group Sell-off Trend	Pair Corr
0.65	LC	LendingClub Corp	Pair Corr
0.85	LX	Lexinfintech Holdings Trending	Pair Corr
0.8	MA	Mastercard	Pair Corr
0.62	MC	Moelis	Pair Corr
0.75	MS	Morgan Stanley Sell-off Trend	Pair Corr
0.71	PX	P10 Inc	Pair Corr
0.78	QD	Qudian Inc	Pair Corr
0.82	SF	Stifel Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.88	TW	Tradeweb Markets	Pair Corr
0.61	WD	Walker Dunlop Normal Trading	Pair Corr
0.61	WT	WisdomTree	Pair Corr
0.79	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.69	GCMGW	GCM Grosvenor	Pair Corr
0.74	DYCQ	DT Cloud Acquisition	Pair Corr

Moving against PGIM Stock

0.7	RC	Ready Capital Corp	Pair Corr
0.63	PT	Pintec Technology	Pair Corr
0.56	RM	Regional Management Corp	Pair Corr
0.9	BRACU	Broad Capital Acquisition	Pair Corr
0.66	XP	Xp Inc Downward Rally	Pair Corr
0.64	PFTAU	Portage Fintech Acqu	Pair Corr
0.56	WU	Western Union	Pair Corr
0.41	EMCGU	Embrace Change Acqui	Pair Corr
0.35	TETEW	Technology Telecommunicatio	Pair Corr

Related Correlations Analysis

	JHS	CXE	CXH	CBH	MHD	IHIT	IHTA	KTF	FINS	DTF
JHS		0.68	0.31	-0.5	0.66	0.06	-0.44	0.1	0.43	-0.23	JHS
CXE	0.68		0.61	-0.44	0.9	-0.2	-0.4	0.34	0.63	-0.03	CXE
CXH	0.31	0.61		0.04	0.69	-0.14	-0.02	0.72	0.41	0.44	CXH
CBH	-0.5	-0.44	0.04		-0.44	-0.48	0.93	0.49	0.07	0.43	CBH
MHD	0.66	0.9	0.69	-0.44		-0.1	-0.45	0.4	0.6	0.06	MHD
IHIT	0.06	-0.2	-0.14	-0.48	-0.1		-0.53	-0.26	-0.66	0.04	IHIT
IHTA	-0.44	-0.4	-0.02	0.93	-0.45	-0.53		0.4	0.11	0.37	IHTA
KTF	0.1	0.34	0.72	0.49	0.4	-0.26	0.4		0.43	0.66	KTF
FINS	0.43	0.63	0.41	0.07	0.6	-0.66	0.11	0.43		0.03	FINS
DTF	-0.23	-0.03	0.44	0.43	0.06	0.04	0.37	0.66	0.03		DTF
	JHS	CXE	CXH	CBH	MHD	IHIT	IHTA	KTF	FINS	DTF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

IHTA	+ 0.93	CBH
MHD	+ 0.9	CXE
KTF	+ 0.72	CXH
MHD	+ 0.69	CXH
CXE	+ 0.68	JHS
MHD	+ 0.66	JHS

High negative correlations

FINS	- 0.66	IHIT
IHTA	- 0.53	IHIT
CBH	- 0.5	JHS
IHIT	- 0.48	CBH
IHTA	- 0.45	MHD
MHD	- 0.44	CBH

Risk-Adjusted Indicators

There is a big difference between PGIM Stock performing well and PGIM Short Company 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
JHS	0.30	(0.02)	(0.23)	0.03	0.40	(0.34)	0.78	(0.61)	3.04
CXE	0.49	0.00	(0.17)	0.11	0.54	(0.64)	1.33	(1.02)	3.34
CXH	0.34	0.05	(0.17)	(0.19)	0.40	(0.38)	0.86	(0.74)	2.10
CBH	0.13	0.04	(0.38)	2.76	0.00	(0.18)	0.22	(0.22)	0.78
MHD	0.50	0.03	(0.11)	(1.15)	0.73	(0.47)	1.00	(1.14)	3.11
IHIT	0.46	(0.05)	0.00	(0.73)	0.00	0.00	1.07	(1.18)	2.70
IHTA	0.24	0.05	(0.12)	1.25	0.25	(0.31)	0.68	(0.27)	2.03
KTF	0.44	0.06	(0.09)	(1.75)	0.48	(0.53)	1.12	(0.61)	3.40
FINS	0.43	0.02	(0.14)	0.34	0.53	(0.46)	1.01	(1.01)	2.75
DTF	0.23	0.01	(0.35)	(0.09)	0.23	(0.28)	0.54	(0.36)	1.96

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC