Pgim Enhanced Correlations

PGFEX Fund

11.70 0.07 0.59%

The current 90-days correlation between Pgim Enhanced Retirement and Fidelity American High is 0.55 (i.e., Very weak diversification). The correlation of Pgim Enhanced 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 Enhanced Correlation With Market

Good diversification

The correlation between Pgim Enhanced Retirement and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pgim Enhanced Retirement 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 Enhanced Retirement. 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 banks.

Moving together with Pgim Mutual Fund

0.61	EMDAX	Prudential Emerging	Pair Corr
0.9	PGFCX	Pgim Conservative	Pair Corr
0.67	PGJAX	Prudential Jennison	Pair Corr
0.64	PGJCX	Prudential Jennison	Pair Corr
0.65	PGJZX	Prudential Jennison	Pair Corr
0.76	PGKZX	Pgim Jennison Technology	Pair Corr
0.81	PGNAX	Jennison Natural Res Steady Growth	Pair Corr
0.8	PGVAX	Prudential Government	Pair Corr
0.68	PHECX	Prudential Global Total	Pair Corr
0.68	PHEAX	Prudential Global Total	Pair Corr
0.66	PHEZX	Prudential Global Total	Pair Corr
0.72	PHICX	Prudential Muni High	Pair Corr
0.67	PHIZX	Prudential Muni High	Pair Corr
0.64	PHLAX	Prudential Health	Pair Corr
0.7	PIBAX	Prudential Balanced	Pair Corr
0.64	SUVCX	Prudential Qma Strategic	Pair Corr
0.76	SUVAX	Prudential Qma Strategic	Pair Corr
0.69	PIFCX	Prudential Short Term	Pair Corr
0.66	SUVZX	Prudential Qma Strategic	Pair Corr

Moving against Pgim Mutual Fund

0.5	PFSZX	Prudential Financial	Pair Corr
0.5	PFSAX	Prudential Financial	Pair Corr

Related Correlations Analysis

	0P0000A2WI	ABTYX	MRHYX	ABTHX
0P0000A2WI		0.84	0.51	0.84	0P0000A2WI
ABTYX	0.84		0.48	1.0	ABTYX
MRHYX	0.51	0.48		0.49	MRHYX
ABTHX	0.84	1.0	0.49		ABTHX
	0P0000A2WI	ABTYX	MRHYX	ABTHX

Risk-Adjusted Indicators

There is a big difference between Pgim Mutual Fund performing well and Pgim Enhanced 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 Enhanced'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
0P0000A2WI	0.13	0.02	(0.14)	(3.64)	0.00	(0.22)	0.29	(0.29)	0.88
ABTYX	0.17	0.06	0.05	1.51	0.00	(0.26)	0.41	(0.20)	1.20
MRHYX	0.13	(0.01)	(0.21)	(0.01)	0.15	(0.16)	0.24	(0.24)	0.59
ABTHX	0.18	0.06	0.06	1.08	0.00	(0.27)	0.51	(0.29)	1.30

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