Correlation Between Putnam Premier and Emerge Capital
Can any of the company-specific risk be diversified away by investing in both Putnam Premier and Emerge Capital 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 Premier and Emerge Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Putnam Premier Income and Emerge Capital Management, you can compare the effects of market volatilities on Putnam Premier and Emerge Capital 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 Premier with a short position of Emerge Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Putnam Premier and Emerge Capital.
Diversification Opportunities for Putnam Premier and Emerge Capital
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Putnam and Emerge is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Premier Income and Emerge Capital Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Emerge Capital Management and Putnam Premier 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 Premier Income are associated (or correlated) with Emerge Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Emerge Capital Management has no effect on the direction of Putnam Premier i.e., Putnam Premier and Emerge Capital go up and down completely randomly.
Pair Corralation between Putnam Premier and Emerge Capital
If you would invest 343.00 in Putnam Premier Income on December 27, 2024 and sell it today you would earn a total of 16.00 from holding Putnam Premier Income or generate 4.66% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Putnam Premier Income vs. Emerge Capital Management
Performance |
Timeline |
Putnam Premier Income |
Emerge Capital Management |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Putnam Premier and Emerge Capital Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Putnam Premier and Emerge Capital
The main advantage of trading using opposite Putnam Premier and Emerge Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Putnam Premier position performs unexpectedly, Emerge Capital 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 Emerge Capital will offset losses from the drop in Emerge Capital's long position.Putnam Premier vs. MFS High Yield | Putnam Premier vs. MFS High Income | Putnam Premier vs. Blackrock Muniholdings Quality | Putnam Premier vs. MFS Charter Income |
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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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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