George Putnam Correlations

PGELX Fund  USD 26.31  0.01  0.04%   
The current 90-days correlation between George Putnam Balanced and Fidelity Advisor Gold is 0.31 (i.e., Weak diversification). The correlation of George Putnam 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.

George Putnam Correlation With Market

Very weak diversification

The correlation between George Putnam Balanced and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding George Putnam Balanced 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 George Putnam Balanced. 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 bureau of economic analysis.

Moving together with George Mutual Fund

  0.77PEYAX Putnam Equity IncomePairCorr
  1.0PGEYX George PutnamPairCorr
  0.71PGFMX Putnam Global FinancialsPairCorr
  1.0PGEJX George Putnam BalancedPairCorr
  1.0PGEOX George PutnamPairCorr
  1.0PGEMX George PutnamPairCorr
  0.72PGHAX Putnam Global HealthPairCorr
  0.72PGIAX Pnc Fds GrPairCorr
  0.7PGIEX Putnam Global IndustrialsPairCorr
  0.72PGIOX Putnam Global IndustrialsPairCorr
  0.73PGILX Putnam Global IndustrialsPairCorr
  0.63PGODX Putnam Growth OpportPairCorr
  0.63PGOEX Putnam Growth OpportPairCorr
  1.0PGPRX George PutnamPairCorr
  0.69PGORX Putnam Growth OpportPairCorr
  0.64PGOYX Putnam Growth OpportPairCorr
  1.0PGPCX George PutnamPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between George Mutual Fund performing well and George Putnam 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 George Putnam'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.