PGIM Short Duration Multi-Sector Bond ETF (PSDM) — Stock Correlations & Overview
Over the past year, PSDM has moved most closely with PCS, PCI, PTRB. Explore the stocks most correlated and inversely correlated with PSDM below, along with its price, financials, and company profile.
Stocks correlated with PSDM
Correlation of daily returns. Higher positive values move with PSDM; negative values move opposite it. Informational only, not investment advice.
Most correlated with PSDM
| Symbol | Company | Correlation |
|---|---|---|
| PCS | PGIM Corporate Bond 0-5 Year ETF | 0.88 |
| PCI | PGIM Corporate Bond 5-10 Year ETF | 0.81 |
| PTRB | PGIM Total Return Bond ETF | 0.80 |
| PAB | PGIM Active Aggregate Bond ETF | 0.80 |
| PHYL | PGIM Active High Yield Bond ETF | 0.76 |
Most inversely correlated with PSDM
| Symbol | Company | Correlation |
|---|---|---|
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.67 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.66 |
| TBX | ProShares Short 7-10 Year Treasury | -0.65 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.58 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.57 |
Frequently asked questions about PSDM correlations
- Which stocks are most correlated with PSDM?
- Based on one year of daily returns, the stocks most correlated with PGIM Short Duration Multi-Sector Bond ETF (PSDM) are PCS (0.88), PCI (0.81) and PTRB (0.80). 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 PSDM?
- Over the past year, the stocks most inversely correlated with PGIM Short Duration Multi-Sector Bond ETF (PSDM) are TYO (-0.67), PST (-0.66) and TBX (-0.65). 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 PSDM correlations calculated?
- We compute the correlation of daily returns between PSDM 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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