Correlation Between Putnam Money and Growth Strategy
Can any of the company-specific risk be diversified away by investing in both Putnam Money and Growth Strategy at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Putnam Money and Growth Strategy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Putnam Money Market and Growth Strategy Fund, you can compare the effects of market volatilities on Putnam Money and Growth Strategy and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Putnam Money with a short position of Growth Strategy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Putnam Money and Growth Strategy.
Diversification Opportunities for Putnam Money and Growth Strategy
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Putnam and Growth is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Money Market and Growth Strategy Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Growth Strategy and Putnam Money is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Putnam Money Market are associated (or correlated) with Growth Strategy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Growth Strategy has no effect on the direction of Putnam Money i.e., Putnam Money and Growth Strategy go up and down completely randomly.
Pair Corralation between Putnam Money and Growth Strategy
If you would invest 100.00 in Putnam Money Market on December 4, 2024 and sell it today you would earn a total of 0.00 from holding Putnam Money Market or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 98.33% |
Values | Daily Returns |
Putnam Money Market vs. Growth Strategy Fund
Performance |
Timeline |
Putnam Money Market |
Growth Strategy |
Putnam Money and Growth Strategy Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Putnam Money and Growth Strategy
The main advantage of trading using opposite Putnam Money and Growth Strategy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Putnam Money position performs unexpectedly, Growth Strategy can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Growth Strategy will offset losses from the drop in Growth Strategy's long position.Putnam Money vs. T Rowe Price | Putnam Money vs. Doubleline Emerging Markets | Putnam Money vs. Pro Blend Servative Term | Putnam Money vs. Touchstone Sustainability And |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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