Putnam Sustainable Correlations

Etfs . USA . 
Etf . Putnam Sustainable Future
PFUT Etf  USD 24.75  0.01  0.04%   
The current 90-days correlation between Putnam Sustainable Future and Putnam Sustainable Leaders is 0.9 (i.e., Almost no diversification). The correlation of Putnam Sustainable 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 Sustainable Correlation With Market

Average diversification

The correlation between Putnam Sustainable Future and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Sustainable Future 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 Sustainable Future. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Putnam Etf

  0.87VOT Vanguard Mid CapPairCorr
  0.83IWP iShares Russell MidPairCorr
  0.66ARKK ARK Innovation ETFPairCorr
  0.98IJK iShares SP MidPairCorr
  0.91JKH iShares Morningstar MidPairCorr
  0.86KOMP SPDR Kensho NewPairCorr
  0.98MDYG SPDR SP 400PairCorr
  0.87IMCG iShares Morningstar MidPairCorr
  0.8FPX First Trust EquityPairCorr
  0.9IVOG Vanguard SP MidPairCorr
  0.66BITX Volatility Shares Trust Buyout TrendPairCorr
  0.64VOX Vanguard CommunicationPairCorr
  0.76HD Home Depot Sell-off TrendPairCorr
  0.69T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.67AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.67CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.65PG Procter GamblePairCorr
  0.65WMT WalmartPairCorr
  0.65DIS Walt DisneyPairCorr
  0.68JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.61TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.64CSCO Cisco SystemsPairCorr

Moving against Putnam Etf

  0.59PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr

Related Correlations Analysis

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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   
PVAL
+ 0.76
PLDR
ESGG
+ 0.73
PLDR
PGRO
+ 0.59
PLDR
PVAL
+ 0.49
ESGG
PGRNX
+ 0.46
PVAL
ESGG
+ 0.42
PGRO
  
High negative correlations   
PGRNX
- 0.57
PGRO

Putnam Sustainable Constituents Risk-Adjusted Indicators

There is a big difference between Putnam Etf performing well and Putnam Sustainable ETF 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 Sustainable'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.

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