PGIM AAA CLO ETF (PAAA) — Stock Correlations & Overview
Over the past year, PAAA has moved most closely with PULS, VNLA, JAAA. Explore the stocks most correlated and inversely correlated with PAAA below, along with its price, financials, and company profile.
Stocks correlated with PAAA
Correlation of daily returns. Higher positive values move with PAAA; negative values move opposite it. Informational only, not investment advice.
Most correlated with PAAA
| Symbol | Company | Correlation |
|---|---|---|
| PULS | PGIM Ultra Short Bond ETF | 0.81 |
| VNLA | Janus Henderson Short Duration Income ETF | 0.69 |
| JAAA | Janus Henderson AAA CLO ETF | 0.61 |
| PMMF | iShares Prime Money Market ETF | 0.57 |
| GMMF | iShares Government Money Market ETF | 0.56 |
Most inversely correlated with PAAA
| Symbol | Company | Correlation |
|---|---|---|
| SOTK | Sono-Tek Corporation Common StockSPECIAL INDUSTRY MACHINERY, NEC | -0.25 |
| RHLD | Resolute Holdings Management, Inc.FINANCE SERVICES | -0.24 |
| LSBK | Lake Shore Bancorp, Inc.SAVINGS INSTITUTION, FEDERALLY CHARTERED | -0.23 |
| PRLD | Prelude Therapeutics IncorporatedPHARMACEUTICAL PREPARATIONS | -0.23 |
| RYDE | Ryde Group Ltd. | -0.21 |
Frequently asked questions about PAAA correlations
- Which stocks are most correlated with PAAA?
- Based on one year of daily returns, the stocks most correlated with PGIM AAA CLO ETF (PAAA) are PULS (0.81), VNLA (0.69) and JAAA (0.61). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with PAAA?
- Over the past year, the stocks most inversely correlated with PGIM AAA CLO ETF (PAAA) are SOTK (-0.25), RHLD (-0.24) and LSBK (-0.23). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these PAAA correlations calculated?
- We compute the correlation of daily returns between PAAA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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