PGIM Short Duration High Yield Opportunities Fund (SDHY) Correlation Distribution
Across 6,808 rolling correlation observations between PGIM Short Duration High Yield Opportunities Fund (SDHY) and other NASDAQ-listed stocks, 71.6% are positive and 28.4% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.336, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 35.5% and strong negative correlations (≤−0.7) for 2.1%.
- Total observations
- 6,808
- Mean correlation
- 0.336
- Most common range
- 0.7 to 0.8
- Positive pairs
- 71.6%
- Strong positive (≥0.7)
- 35.5%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 9 | 0.1% | |
| -0.9 to -0.8 | 67 | 1.0% | |
| -0.8 to -0.7 | 67 | 1.0% | |
| -0.7 to -0.6 | 199 | 2.9% | |
| -0.6 to -0.5 | 199 | 2.9% | |
| -0.5 to -0.4 | 270 | 4.0% | |
| -0.4 to -0.3 | 269 | 4.0% | |
| -0.3 to -0.2 | 295 | 4.3% | |
| -0.2 to -0.1 | 294 | 4.3% | |
| -0.1 to 0.0 | 264 | 3.9% | |
| 0.0 to 0.1 | 263 | 3.9% | |
| 0.1 to 0.2 | 248 | 3.6% | |
| 0.2 to 0.3 | 248 | 3.6% | |
| 0.3 to 0.4 | 358 | 5.3% | |
| 0.4 to 0.5 | 357 | 5.2% | |
| 0.5 to 0.6 | 491 | 7.2% | |
| 0.6 to 0.7 | 491 | 7.2% | |
| 0.7 to 0.8 | 993 | 14.6% | |
| 0.8 to 0.9 | 993 | 14.6% | |
| 0.9 to 1.0 | 433 | 6.4% |
Frequently asked questions
What is the average correlation of SDHY?
PGIM Short Duration High Yield Opportunities Fund (SDHY) has an average correlation of about 0.336 with other NASDAQ stocks, based on 6,808 pairwise observations.
Is SDHY positively correlated with other stocks?
Mostly yes — 71.6% of pairs are positive and 28.4% are negative. Strong positive correlations (≥0.7) make up 35.5%.
What is the most common correlation range for SDHY?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 23.7% of all pairs.
Explore the full interactive correlation distribution for SDHY.
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