PGIM Active Correlations

PHYL Etf

USD 35.30 0.07 0.20%

The current 90-days correlation between PGIM Active High and Goldman Sachs Access is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PGIM Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PGIM Active High moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PGIM Active Correlation With Market

Poor diversification

The correlation between PGIM Active High and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PGIM Active High 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, which includes a position in PGIM Active High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with PGIM Etf

0.99	HYG	iShares iBoxx High	Pair Corr
1.0	USHY	iShares Broad USD	Pair Corr
1.0	JNK	SPDR Bloomberg High	Pair Corr
0.99	SHYG	iShares 0 5	Pair Corr
1.0	HYLB	Xtrackers USD High	Pair Corr
1.0	SJNK	SPDR Bloomberg Short	Pair Corr
1.0	ANGL	VanEck Fallen Angel	Pair Corr
0.99	FALN	iShares Fallen Angels	Pair Corr
0.99	HYLS	First Trust Tactical	Pair Corr
0.99	HYDW	Xtrackers Low Beta	Pair Corr
0.86	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.96	USD	ProShares Ultra Semi	Pair Corr
0.96	DFEN	Direxion Daily Aerospace	Pair Corr
0.94	DUSL	Direxion Daily Indus	Pair Corr
0.82	DIG	ProShares Ultra Oil	Pair Corr
0.98	FNGO	MicroSectors FANG Index	Pair Corr
0.71	MLPR	ETRACS Quarterly Pay	Pair Corr
0.66	AMZA	InfraCap MLP ETF	Pair Corr
0.96	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.81	EUSB	iShares Trust	Pair Corr
0.96	SPIB	SPDR Barclays Interm	Pair Corr
0.92	PFUT	Putnam Sustainable Future	Pair Corr
0.88	VBF	Invesco Van Kampen	Pair Corr
0.85	HIDE	Alpha Architect High	Pair Corr
0.73	KGRN	KraneShares MSCI China	Pair Corr
0.94	NFLX	Netflix Downward Rally	Pair Corr
0.97	BUFD	FT Cboe Vest	Pair Corr
0.96	QTOC	Innovator ETFs Trust	Pair Corr
0.97	CGGO	Capital Group Global	Pair Corr

Moving against PGIM Etf

0.59

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	GIGB	GSSC	GSIE	GTIP	GEM
GIGB		0.82	0.81	0.88	0.85	GIGB
GSSC	0.82		0.96	0.63	0.97	GSSC
GSIE	0.81	0.96		0.61	0.96	GSIE
GTIP	0.88	0.63	0.61		0.66	GTIP
GEM	0.85	0.97	0.96	0.66		GEM
	GIGB	GSSC	GSIE	GTIP	GEM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

PGIM Active Constituents Risk-Adjusted Indicators

There is a big difference between PGIM Etf performing well and PGIM Active 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 Active'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
GIGB	0.27	0.02	(0.24)	0.23	0.24	(0.29)	0.60	(0.50)	1.80
GSSC	0.92	0.10	0.10	0.22	0.97	(1.07)	2.33	(2.08)	5.96
GSIE	0.54	0.13	0.08	0.42	0.34	(0.61)	1.20	(1.13)	3.33
GTIP	0.21	0.02	(0.36)	0.78	0.22	(0.21)	0.41	(0.49)	1.25
GEM	0.57	0.18	0.15	0.52	0.31	(0.70)	1.47	(1.11)	4.54

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

2025 Macroaxis LLC