PGIM Rock Correlations

PMJN Etf

25.86 0.01 0.04%

The current 90-days correlation between PGIM Rock ETF and Thornburg Core Plus is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PGIM Rock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PGIM Rock ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PGIM Rock Correlation With Market

Poor diversification

The correlation between PGIM Rock ETF and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PGIM Rock ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with PGIM Etf

Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with PGIM Etf

0.98	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.98	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.98	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.9	BND	Vanguard Total Bond	Pair Corr
0.92	VTV	Vanguard Value Index	Pair Corr
0.96	VUG	Vanguard Growth Index	Pair Corr
0.63	VO	Vanguard Mid Cap	Pair Corr
0.94	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.68	VB	Vanguard Small Cap	Pair Corr
0.96	VWO	Vanguard FTSE Emerging	Pair Corr
0.89	XSEP	FT Cboe Vest	Pair Corr
0.76	FTSL	First Trust Senior	Pair Corr
0.9	DFAI	Dimensional International	Pair Corr
0.96	RVNU	Xtrackers Municipal	Pair Corr
0.96	XCEM	Columbia EM Core	Pair Corr
0.96	IVW	iShares SP 500	Pair Corr
0.79	IGRO	iShares International Low Volatility	Pair Corr
0.78	WOMN	Impact Shares YWCA	Pair Corr
0.92	MAVF	EA Series Trust	Pair Corr
0.93	RAAX	VanEck Inflation All	Pair Corr
0.98	RSMV	Listed Funds Trust	Pair Corr
0.93	HFGM	Unlimited HFGM Global	Pair Corr
0.9	HAP	VanEck Natural Resources	Pair Corr
0.73	NIKL	Sprott Nickel Miners	Pair Corr
0.85	SGDJ	Sprott Junior Gold	Pair Corr
0.63	IJR	iShares Core SP Sell-off Trend	Pair Corr
0.86	RFMZ	RiverNorth Flexible	Pair Corr
0.96	HMOP	Hartford Municipal	Pair Corr
0.95	TSLP	Kurv Yield Premium	Pair Corr
0.98	ZSEP	Innovator Equity Defined	Pair Corr
0.96	CRTC	Xtrackers National	Pair Corr
0.67	XLY	Consumer Discretionary	Pair Corr
0.93	AIBU	Direxion Shares ETF	Pair Corr
0.99	PJAN	Innovator SP 500	Pair Corr
0.63	MDBX	MDBX	Pair Corr
0.96	SHV	iShares Short Treasury	Pair Corr
0.98	YFYA	Listed Funds Trust	Pair Corr
0.96	AVMU	Avantis Core Municipal	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.12	0.24	-0.73	0.74	-0.72	-0.06	-0.47	-0.57	-0.57	META
MSFT	0.12		0.35	0.28	-0.43	0.37	0.18	0.12	0.24	0.12	MSFT
UBER	0.24	0.35		-0.11	0.08	-0.17	-0.02	0.38	-0.31	0.08	UBER
F	-0.73	0.28	-0.11		-0.76	0.8	0.27	0.47	0.61	0.7	F
T	0.74	-0.43	0.08	-0.76		-0.92	-0.23	-0.38	-0.59	-0.52	T
A	-0.72	0.37	-0.17	0.8	-0.92		0.24	0.43	0.69	0.6	A
CRM	-0.06	0.18	-0.02	0.27	-0.23	0.24		-0.18	0.04	0.12	CRM
JPM	-0.47	0.12	0.38	0.47	-0.38	0.43	-0.18		0.03	0.69	JPM
MRK	-0.57	0.24	-0.31	0.61	-0.59	0.69	0.04	0.03		0.35	MRK
XOM	-0.57	0.12	0.08	0.7	-0.52	0.6	0.12	0.69	0.35		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

A	+ 0.8	F
T	+ 0.74	META
XOM	+ 0.7	F
MRK	+ 0.69	A
XOM	+ 0.69	JPM
MRK	+ 0.61	F

High negative correlations

A	- 0.92	T
T	- 0.76	F
F	- 0.73	META
A	- 0.72	META
MRK	- 0.59	T
XOM	- 0.57	META

PGIM Rock Competition Risk-Adjusted Indicators

There is a big difference between PGIM Etf performing well and PGIM Rock 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 Rock'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	1.28	(0.43)	0.00	(0.40)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.78	(0.09)	0.00	(0.05)	0.00	0.00	1.85	(1.98)	5.08
UBER	1.43	(0.05)	(0.03)	0.01	1.81	(1.55)	3.34	(2.71)	9.09
F	1.38	0.15	0.11	0.17	1.46	(1.62)	3.66	(1.73)	16.30
T	0.97	(0.18)	0.00	(0.67)	0.00	0.00	1.84	(2.32)	6.25
A	1.30	0.24	0.18	0.25	1.07	(1.46)	3.82	(2.15)	11.03
CRM	1.55	0.01	0.01	0.08	2.21	(1.47)	3.59	(3.61)	9.91
JPM	0.86	(0.02)	(0.01)	0.05	1.30	(0.79)	1.67	(1.91)	5.76
MRK	1.22	0.15	0.10	0.30	1.14	(1.48)	1.80	(2.36)	11.45
XOM	0.88	0.16	0.09	0.63	1.04	(0.87)	1.78	(1.93)	4.71

PGIM Rock Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with PGIM Rock etf to make a market-neutral strategy. Peer analysis of PGIM Rock could also be used in its relative valuation, which is a method of valuing PGIM Rock by comparing valuation metrics with similar companies.

Thornburg Core Plus Invesco BulletShares 2035 Xtrackers SP 500 Roundhill ETF Trust Innovator ETFs Trust First Trust Nasdaq Franklin Templeton ETF WisdomTree Corporate Bond Innovator ETFs Trust AdvisorShares Psychedelics ETF American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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