PGIM Large Correlations

PBAP Etf

27.58 0.02 0.07%

The current 90-days correlation between PGIM Large Cap and FT Vest Equity is -0.2 (i.e., Good diversification). The correlation of PGIM Large 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 Large Correlation With Market

Almost no diversification

The correlation between PGIM Large Cap Buffer and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PGIM Large Cap Buffer and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PGIM Large Cap Buffer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with PGIM Etf

0.91	INOV	Innovator ETFs Trust	Pair Corr
0.99	BUFR	First Trust Cboe	Pair Corr
0.98	BUFD	FT Cboe Vest	Pair Corr
0.98	PSEP	Innovator SP 500	Pair Corr
0.98	PJAN	Innovator SP 500	Pair Corr
0.97	PJUL	Innovator SP 500	Pair Corr
0.98	PAUG	Innovator Equity Power	Pair Corr
0.98	DNOV	FT Cboe Vest	Pair Corr
0.98	PMAY	Innovator SP 500	Pair Corr
0.97	PJUN	Innovator SP 500	Pair Corr
0.63	AMPD	Tidal ETF Services	Pair Corr
0.98	ITDD	iShares Trust	Pair Corr
0.97	BAC	Bank of America Aggressive Push	Pair Corr
0.87	MMM	3M Company	Pair Corr
0.87	IBM	International Business	Pair Corr
0.91	JPM	JPMorgan Chase	Pair Corr
0.92	DIS	Walt Disney	Pair Corr
0.95	AXP	American Express	Pair Corr
0.97	CAT	Caterpillar	Pair Corr
0.92	GE	GE Aerospace	Pair Corr
0.91	BA	Boeing Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.93	0.77	0.8	0.53	0.78	0.5	0.9	-0.16	0.2	META
MSFT	0.93		0.89	0.83	0.54	0.56	0.45	0.93	-0.41	-0.05	MSFT
UBER	0.77	0.89		0.86	0.45	0.45	0.66	0.87	-0.44	-0.09	UBER
F	0.8	0.83	0.86		0.56	0.63	0.63	0.91	-0.2	0.2	F
T	0.53	0.54	0.45	0.56		0.5	0.21	0.64	0.08	0.29	T
A	0.78	0.56	0.45	0.63	0.5		0.55	0.65	0.4	0.67	A
CRM	0.5	0.45	0.66	0.63	0.21	0.55		0.5	0.06	0.25	CRM
JPM	0.9	0.93	0.87	0.91	0.64	0.65	0.5		-0.28	0.16	JPM
MRK	-0.16	-0.41	-0.44	-0.2	0.08	0.4	0.06	-0.28		0.69	MRK
XOM	0.2	-0.05	-0.09	0.2	0.29	0.67	0.25	0.16	0.69		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

MSFT	+ 0.93	META
JPM	+ 0.93	MSFT
JPM	+ 0.91	F
JPM	+ 0.9	META
UBER	+ 0.89	MSFT
JPM	+ 0.87	UBER

High negative correlations

MRK	- 0.44	UBER
MRK	- 0.41	MSFT
MRK	- 0.28	JPM
MRK	- 0.2	F
MRK	- 0.16	META
XOM	- 0.09	UBER

PGIM Large Competition Risk-Adjusted Indicators

There is a big difference between PGIM Etf performing well and PGIM Large 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 Large'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	2.13	0.24	0.10	0.19	2.43	(2.49)	4.23	(4.29)	21.50
MSFT	1.22	0.32	0.20	0.36	1.12	(1.33)	2.40	(2.36)	13.79
UBER	1.95	0.25	0.11	0.23	2.25	(2.20)	5.87	(3.48)	16.18
F	1.68	0.15	0.04	(0.65)	2.22	(1.73)	2.90	(3.84)	13.07
T	1.16	0.06	0.02	0.23	1.81	(1.14)	2.01	(2.62)	8.83
A	1.77	(0.05)	(0.02)	0.00	2.51	(1.78)	2.76	(4.15)	14.45
CRM	1.65	(0.10)	0.00	(0.04)	0.00	0.00	3.01	(3.64)	13.13
JPM	1.32	0.26	0.10	1.85	1.98	(1.36)	2.75	(2.12)	11.14
MRK	1.61	(0.23)	0.00	(0.29)	0.00	0.00	2.55	(4.72)	10.58
XOM	1.36	(0.10)	0.00	(0.10)	0.00	0.00	2.62	(3.04)	10.53

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