Putnam High Correlations

PCF Fund

USD 6.78 0.03 0.44%

The current 90-days correlation between Putnam High Income and RiverNorthDoubleLine Strategic Opportunity is 0.1 (i.e., Average diversification). The correlation of Putnam High is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Putnam High Correlation With Market

Modest diversification

The correlation between Putnam High Income and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam High Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Putnam High Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Putnam Fund

0.76	NDP	Tortoise Energy Inde	Pair Corr
0.61	CEE	Central Europe Russia	Pair Corr
0.72	BTO	John Hancock Financial	Pair Corr
0.85	NTG	Tortoise Mlp Closed	Pair Corr
0.81	EMO	Clearbridge Energy Mlp	Pair Corr
0.62	TDF	Templeton Dragon Closed	Pair Corr
0.77	SRV	Cushing Mlp Total	Pair Corr
0.84	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.76	PRDSX	T Rowe Price	Pair Corr
0.76	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.69	FSRBX	Banking Portfolio Banking	Pair Corr
0.83	TEGYX	Mid Cap Growth	Pair Corr
0.69	HFCGX	Hennessy Nerstone Growth	Pair Corr
0.69	GAB	Gabelli Equity Trust	Pair Corr
0.76	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.66	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.8	T	ATT Inc Aggressive Push	Pair Corr
0.77	WMT	Walmart Aggressive Push	Pair Corr
0.77	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.85	HD	Home Depot Sell-off Trend	Pair Corr
0.84	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.61	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.85	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.71	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.71	DIS	Walt Disney Aggressive Push	Pair Corr
0.8	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Putnam Fund

0.84	KF	Korea Closed	Pair Corr
0.75	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.75	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.72	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	OPP	CRF	OXLC	HRZN	NCZ	GLV	NMCO	NFJ	RIV
OPP		-0.68	-0.69	0.76	-0.47	0.11	0.81	-0.12	0.07	OPP
CRF	-0.68		0.88	-0.92	0.88	0.47	-0.65	0.65	0.51	CRF
OXLC	-0.69	0.88		-0.88	0.66	0.32	-0.65	0.38	0.29	OXLC
HRZN	0.76	-0.92	-0.88		-0.72	-0.34	0.76	-0.43	-0.38	HRZN
NCZ	-0.47	0.88	0.66	-0.72		0.6	-0.4	0.83	0.63	NCZ
GLV	0.11	0.47	0.32	-0.34	0.6		-0.1	0.68	0.81	GLV
NMCO	0.81	-0.65	-0.65	0.76	-0.4	-0.1		-0.06	-0.09	NMCO
NFJ	-0.12	0.65	0.38	-0.43	0.83	0.68	-0.06		0.72	NFJ
RIV	0.07	0.51	0.29	-0.38	0.63	0.81	-0.09	0.72		RIV
	OPP	CRF	OXLC	HRZN	NCZ	GLV	NMCO	NFJ	RIV

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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

OXLC	+ 0.88	CRF
NCZ	+ 0.88	CRF
NFJ	+ 0.83	NCZ
NMCO	+ 0.81	OPP
RIV	+ 0.81	GLV
HRZN	+ 0.76	OPP

High negative correlations

HRZN	- 0.92	CRF
HRZN	- 0.88	OXLC
NCZ	- 0.72	HRZN
OXLC	- 0.69	OPP
CRF	- 0.68	OPP
NMCO	- 0.65	OXLC

Risk-Adjusted Indicators

There is a big difference between Putnam Fund performing well and Putnam High Fund 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 Putnam High'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
OPP	0.46	(0.03)	0.00	0.26	0.00	0.00	0.82	(0.90)	3.58
CRF	0.64	0.25	0.25	0.56	0.00	(0.85)	1.81	(0.99)	3.89
OXLC	0.45	0.04	(0.11)	(4.37)	0.51	(0.54)	1.00	(0.98)	3.24
HRZN	0.75	(0.24)	0.00	(1.11)	0.00	0.00	0.88	(2.10)	5.65
NCZ	0.88	0.11	0.06	0.30	0.81	(1.16)	1.96	(1.69)	5.70
GLV	0.61	(0.02)	(0.09)	0.06	0.78	(0.67)	1.38	(1.22)	4.91
NMCO	0.55	(0.01)	0.00	1.01	0.00	0.00	1.18	(1.35)	3.99
NFJ	0.47	0.00	(0.09)	0.12	0.52	(0.49)	1.04	(0.85)	2.62
RIV	0.49	0.02	(0.12)	0.20	0.51	(0.56)	1.04	(1.04)	2.80

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