Putnam Equity Correlations

PEYAX Fund

USD 35.58 0.40 1.14%

The current 90-days correlation between Putnam Equity Income and Putnam Growth Opportunities is 0.6 (i.e., Poor diversification). The correlation of Putnam Equity 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 Equity Correlation With Market

Significant diversification

The correlation between Putnam Equity Income and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Equity 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 Equity Income. 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 nation.

Moving together with Putnam Mutual Fund

0.63	PFJAX	Putnam High Yield	Pair Corr
0.62	PFLRX	Putnam Floating Rate	Pair Corr
0.66	PGEYX	George Putnam	Pair Corr
0.83	PGFMX	Putnam Global Financials	Pair Corr
0.71	PGEJX	George Putnam Balanced	Pair Corr
0.7	PGEOX	George Putnam	Pair Corr
0.7	PGELX	George Putnam Balanced	Pair Corr
0.69	PGEMX	George Putnam	Pair Corr
0.65	PGHAX	Putnam Global Health	Pair Corr
0.65	PGIAX	Pnc Fds Gr	Pair Corr
0.69	PGPRX	George Putnam	Pair Corr
0.64	PGPCX	George Putnam	Pair Corr

Related Correlations Analysis

	POGAX	POVSX	PGEOX	PNOPX	PINCX
POGAX		-0.57	0.94	0.99	-0.63	POGAX
POVSX	-0.57		-0.32	-0.52	0.85	POVSX
PGEOX	0.94	-0.32		0.97	-0.42	PGEOX
PNOPX	0.99	-0.52	0.97		-0.6	PNOPX
PINCX	-0.63	0.85	-0.42	-0.6		PINCX
	POGAX	POVSX	PGEOX	PNOPX	PINCX

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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

PNOPX	+ 0.99	POGAX
PNOPX	+ 0.97	PGEOX
PGEOX	+ 0.94	POGAX
PINCX	+ 0.85	POVSX

High negative correlations

PINCX	- 0.63	POGAX
PINCX	- 0.6	PNOPX
POVSX	- 0.57	POGAX
PNOPX	- 0.52	POVSX
PINCX	- 0.42	PGEOX
PGEOX	- 0.32	POVSX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Equity 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 Equity'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
POGAX	1.15	(0.17)	0.00	1.38	0.00	0.00	2.22	(2.66)	6.58
POVSX	0.66	0.16	0.19	(3.90)	0.72	(0.69)	1.55	(1.11)	5.81
PGEOX	0.52	(0.05)	0.00	13.36	0.00	0.00	0.88	(1.09)	3.01
PNOPX	0.83	(0.14)	0.00	4.11	0.00	0.00	1.57	(1.84)	5.12
PINCX	0.21	0.04	0.22	0.72	0.02	(0.34)	0.60	(0.39)	1.42

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