Putnam Pennsylvania Correlations

PTEPX Fund

USD 8.61 0.01 0.12%

The current 90-days correlation between Putnam Pennsylvania Tax and Commodities Strategy Fund is -0.2 (i.e., Good diversification). The correlation of Putnam Pennsylvania 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 Pennsylvania Correlation With Market

Significant diversification

The correlation between Putnam Pennsylvania Tax and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Pennsylvania Tax 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 Pennsylvania Tax. 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 american community survey.

Moving together with Putnam Mutual Fund

0.92	PEXTX	Putnam Tax Exempt	Pair Corr
0.99	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.99	PXMNX	Putnam Minnesota Tax	Pair Corr
0.92	PXOHX	Putnam Ohio Tax	Pair Corr
0.71	PGBRX	Putnam Global Income	Pair Corr
0.78	PGGYX	Putnam Global Incm	Pair Corr
0.72	PGGDX	Putnam Global Income	Pair Corr
0.71	PGGEX	Putnam Global Income	Pair Corr
0.71	PGGLX	Putnam Global Incm	Pair Corr
0.76	PGGIX	Putnam Global Income	Pair Corr
0.61	PGLEX	Putnam Global Equity	Pair Corr
0.61	PGLRX	Putnam Global Equity	Pair Corr

Related Correlations Analysis

	RYMBX	SEKRX	EGLNX	ZEMIX	APDOX	TEOJX	FEMDX	EMSLX
RYMBX		0.36	-0.27	0.36	-0.41	0.44	-0.3	0.26	RYMBX
SEKRX	0.36		-0.71	0.96	0.13	0.97	0.25	0.9	SEKRX
EGLNX	-0.27	-0.71		-0.68	0.19	-0.72	0.17	-0.77	EGLNX
ZEMIX	0.36	0.96	-0.68		0.07	0.93	0.21	0.85	ZEMIX
APDOX	-0.41	0.13	0.19	0.07		0.11	0.7	0.28	APDOX
TEOJX	0.44	0.97	-0.72	0.93	0.11		0.19	0.91	TEOJX
FEMDX	-0.3	0.25	0.17	0.21	0.7	0.19		0.23	FEMDX
EMSLX	0.26	0.9	-0.77	0.85	0.28	0.91	0.23		EMSLX
	RYMBX	SEKRX	EGLNX	ZEMIX	APDOX	TEOJX	FEMDX	EMSLX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

TEOJX	+ 0.97	SEKRX
ZEMIX	+ 0.96	SEKRX
TEOJX	+ 0.93	ZEMIX
EMSLX	+ 0.91	TEOJX
EMSLX	+ 0.9	SEKRX
EMSLX	+ 0.85	ZEMIX

High negative correlations

EMSLX	- 0.77	EGLNX
TEOJX	- 0.72	EGLNX
EGLNX	- 0.71	SEKRX
ZEMIX	- 0.68	EGLNX
APDOX	- 0.41	RYMBX
FEMDX	- 0.3	RYMBX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Pennsylvania 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 Pennsylvania'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
RYMBX	0.79	0.06	0.06	0.52	0.92	(0.92)	1.82	(1.58)	4.53
SEKRX	0.63	(0.12)	0.00	(0.68)	0.00	0.00	1.57	(1.47)	4.23
EGLNX	0.82	0.16	0.13	0.55	1.02	(0.88)	1.86	(1.70)	5.83
ZEMIX	0.71	(0.09)	0.00	(0.39)	0.00	0.00	1.10	(1.96)	5.00
APDOX	0.15	(0.03)	0.00	(0.54)	0.00	0.00	0.19	(0.29)	1.54
TEOJX	0.59	(0.12)	0.00	(0.58)	0.00	0.00	1.21	(1.49)	3.65
FEMDX	0.22	(0.07)	0.00	2.85	0.00	0.00	0.33	(0.33)	5.06
EMSLX	0.75	(0.20)	0.00	(0.83)	0.00	0.00	1.26	(2.47)	5.45

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC