Putnam Convertible Correlations

PCGYX Fund

USD 25.98 0.09 0.35%

The current 90-days correlation between Putnam Vertible Secu and Short Precious Metals is 0.1 (i.e., Average diversification). The correlation of Putnam Convertible 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Putnam Convertible Correlation With Market

Average diversification

The correlation between Putnam Vertible Securities and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Vertible Securities 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 Vertible Securities. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Putnam Mutual Fund

0.83	PFICX	Putnam Floating Rate	Pair Corr
0.84	PFLRX	Putnam Floating Rate	Pair Corr
0.83	PFLLX	Putnam Floating Rate	Pair Corr
0.84	PFRYX	Putnam Floating Rate	Pair Corr
0.83	PFRZX	Putnam Floating Rate	Pair Corr
0.89	PGEJX	George Putnam Balanced	Pair Corr
0.88	PGEMX	George Putnam	Pair Corr
0.86	PGIOX	Putnam Global Industrials	Pair Corr
0.69	PGODX	Putnam Growth Opport	Pair Corr
0.81	PGOEX	Putnam Growth Opport	Pair Corr
0.69	PGORX	Putnam Growth Opport	Pair Corr
0.81	PGOYX	Putnam Growth Opport	Pair Corr

Moving against Putnam Mutual Fund

0.34	PGHAX	Putnam Global Health	Pair Corr
0.32	PGLEX	Putnam Global Equity	Pair Corr
0.4	PICRX	Putnam International	Pair Corr
0.38	PICOX	Putnam International	Pair Corr
0.34	PGLRX	Putnam Global Equity	Pair Corr
0.34	PHSYX	Putnam Global Health	Pair Corr
0.33	PHSRX	Putnam Global Health	Pair Corr
0.33	PHSTX	Putnam Global Health	Pair Corr

Related Correlations Analysis

	SPPIX	GLDAX	QGLCX	UNWPX	SGDLX	FGDIX
SPPIX		-0.92	-0.56	-0.89	-0.92	-0.98	SPPIX
GLDAX	-0.92		0.69	0.92	0.99	0.95	GLDAX
QGLCX	-0.56	0.69		0.52	0.64	0.65	QGLCX
UNWPX	-0.89	0.92	0.52		0.92	0.88	UNWPX
SGDLX	-0.92	0.99	0.64	0.92		0.95	SGDLX
FGDIX	-0.98	0.95	0.65	0.88	0.95		FGDIX
	SPPIX	GLDAX	QGLCX	UNWPX	SGDLX	FGDIX

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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

SGDLX	+ 0.99	GLDAX
FGDIX	+ 0.95	GLDAX
FGDIX	+ 0.95	SGDLX
UNWPX	+ 0.92	GLDAX
SGDLX	+ 0.92	UNWPX
FGDIX	+ 0.88	UNWPX

High negative correlations

FGDIX	- 0.98	SPPIX
SGDLX	- 0.92	SPPIX
GLDAX	- 0.92	SPPIX
UNWPX	- 0.89	SPPIX
QGLCX	- 0.56	SPPIX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Convertible Mutual 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 Convertible'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
SPPIX	1.48	0.19	0.08	(0.77)	1.87	(1.51)	3.24	(3.29)	10.54
GLDAX	1.31	(0.15)	0.00	(0.90)	0.00	0.00	2.64	(2.91)	8.38
QGLCX	1.17	(0.36)	0.00	(0.73)	0.00	0.00	1.31	(2.38)	22.56
UNWPX	1.24	(0.09)	0.00	8.02	0.00	0.00	2.60	(2.41)	6.87
SGDLX	1.30	(0.11)	0.00	(1.10)	0.00	0.00	2.66	(2.69)	8.32
FGDIX	1.34	(0.20)	0.00	(0.80)	0.00	0.00	2.67	(2.93)	9.33

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