Putnam Convertible Correlations

PCVRX Fund

USD 26.09 0.12 0.46%

The current 90-days correlation between Putnam Vertible Secu and Fwnhtx is -0.03 (i.e., Good 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

Poor diversification

The correlation between Putnam Vertible Securities and DJI is 0.65 (i.e., Poor 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 metropolitan statistical area.

Moving together with Putnam Mutual Fund

0.93	FCSZX	Franklin Vertible	Pair Corr
0.93	FCSKX	Franklin Vertible	Pair Corr
0.92	FISCX	Franklin Convertible	Pair Corr
0.92	FROTX	Franklin Convertible	Pair Corr
0.93	ANZCX	Allianzgi Convertible	Pair Corr
0.92	ANZAX	Allianzgi Convertible	Pair Corr
0.92	ANNPX	Allianzgi Convertible	Pair Corr
0.77	VAADX	Virtus Convertible	Pair Corr
0.89	FCVSX	Fidelity Convertible	Pair Corr
0.78	MCSVX	Mainstay Convertible	Pair Corr
0.89	ASG	Liberty All Star	Pair Corr
0.64	CRF	Cornerstone Strategic	Pair Corr
0.86	USA	Liberty All Star	Pair Corr
0.79	NFJ	Virtus Dividend Interest	Pair Corr
0.71	MHHIX	Mainstay High Yield	Pair Corr
0.84	PFJAX	Putnam High Yield	Pair Corr
0.63	T	ATT Inc Earnings Call This Week	Pair Corr
0.7	BAC	Bank of America	Pair Corr
0.8	HD	Home Depot	Pair Corr
0.61	PG	Procter Gamble Earnings Call Tomorrow	Pair Corr

Moving against Putnam Mutual Fund

0.58

PFE

Pfizer Inc Fiscal Year End 4th of February 2025

Pair Corr

Related Correlations Analysis

	FWNHTX	FABWX	WMCANX	FBJYGX	IAADX	FFCGX
FWNHTX		0.09	0.07	0.06	0.48	0.37	FWNHTX
FABWX	0.09		0.74	0.12	0.59	0.59	FABWX
WMCANX	0.07	0.74		0.49	0.6	0.59	WMCANX
FBJYGX	0.06	0.12	0.49		0.47	0.43	FBJYGX
IAADX	0.48	0.59	0.6	0.47		0.85	IAADX
FFCGX	0.37	0.59	0.59	0.43	0.85		FFCGX
	FWNHTX	FABWX	WMCANX	FBJYGX	IAADX	FFCGX

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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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FWNHTX	0.02	0.00	0.00	0.00	0.00	0.07	(0.05)	0.12
FABWX	0.75	0.29	2.09	0.00	0.00	1.92	(1.12)	2.51
WMCANX	0.51	0.09	0.71	0.00	0.00	1.40	(1.50)	2.41
FBJYGX	0.45	0.02	0.47	0.64	(0.45)	0.87	(1.30)	2.17
IAADX	0.17	(0.03)	(0.47)	0.00	0.00	0.22	(0.33)	1.44
FFCGX	0.54	(0.03)	(0.08)	0.00	0.00	1.02	(1.23)	3.92

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