Putnam High Correlations

PCF Fund

USD 6.11 0.01 0.16%

The current 90-days correlation between Putnam High Income and Allspring Utilities And is 0.19 (i.e., Average diversification). The correlation of Putnam High 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.

Putnam High Correlation With Market

Very weak diversification

The correlation between Putnam High Income and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam High Income 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 High Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Putnam Fund

0.62	RYVYX	Nasdaq 100 2x Steady Growth	Pair Corr
0.62	RYVLX	Nasdaq 100 2x Steady Growth	Pair Corr

Moving against Putnam Fund

0.31

TREMX

T Rowe Price

Pair Corr

Related Correlations Analysis

	ERH	PGP	CCIF	HEQ	IHD	JLS	CGO	WIGTX	TCMIX
ERH		-0.61	0.3	-0.56	0.13	0.35	0.43	0.0	0.0	ERH
PGP	-0.61		-0.55	0.86	0.4	-0.21	-0.44	0.0	-0.16	PGP
CCIF	0.3	-0.55		-0.55	-0.23	-0.07	0.52	0.0	0.59	CCIF
HEQ	-0.56	0.86	-0.55		0.49	-0.19	-0.52	0.0	-0.17	HEQ
IHD	0.13	0.4	-0.23	0.49		-0.34	0.24	0.0	0.27	IHD
JLS	0.35	-0.21	-0.07	-0.19	-0.34		-0.3	0.0	-0.57	JLS
CGO	0.43	-0.44	0.52	-0.52	0.24	-0.3		0.0	0.75	CGO
WIGTX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	WIGTX
TCMIX	0.0	-0.16	0.59	-0.17	0.27	-0.57	0.75	0.0		TCMIX
	ERH	PGP	CCIF	HEQ	IHD	JLS	CGO	WIGTX	TCMIX

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

HEQ	+ 0.86	PGP
TCMIX	+ 0.75	CGO
TCMIX	+ 0.59	CCIF
CGO	+ 0.52	CCIF
IHD	+ 0.49	HEQ
CGO	+ 0.43	ERH

High negative correlations

PGP	- 0.61	ERH
TCMIX	- 0.57	JLS
HEQ	- 0.56	ERH
HEQ	- 0.55	CCIF
CCIF	- 0.55	PGP
CGO	- 0.52	HEQ

Risk-Adjusted Indicators

There is a big difference between Putnam Fund performing well and Putnam High 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 High'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
ERH	0.57	(0.05)	0.00	(0.07)	0.00	0.00	1.38	(1.29)	4.37
PGP	0.55	0.09	0.05	0.41	0.49	(0.64)	1.35	(0.95)	3.76
CCIF	1.04	(0.25)	0.00	(0.93)	0.00	0.00	1.87	(2.34)	5.71
HEQ	0.44	0.02	(0.03)	0.12	0.47	(0.49)	0.95	(0.94)	2.22
IHD	0.79	0.02	(0.01)	0.10	1.05	(0.87)	1.64	(1.29)	6.12
JLS	0.32	(0.03)	0.00	(23.47)	0.00	0.00	0.71	(0.76)	2.40
CGO	0.70	(0.12)	0.00	(0.06)	0.00	0.00	1.20	(1.72)	4.21
WIGTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TCMIX	0.64	(0.10)	0.00	(0.05)	0.00	0.00	1.06	(1.34)	3.58

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