Putnam Equity Correlations

PEQCX Fund

USD 37.81 0.27 0.72%

The current 90-days correlation between Putnam Equity Income and Firsthand Alternative Energy is 0.56 (i.e., Very weak diversification). The correlation of Putnam Equity 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 Equity Correlation With Market

Almost no diversification

The correlation between Putnam Equity Income and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Equity 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 Equity Income. 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 main economic indicators.

Moving together with Putnam Mutual Fund

1.0	PEYAX	Putnam Equity Income	Pair Corr
0.82	PFICX	Putnam Floating Rate	Pair Corr
0.78	PFJAX	Putnam High Yield	Pair Corr
0.83	PFLRX	Putnam Floating Rate	Pair Corr
0.82	PFLLX	Putnam Floating Rate	Pair Corr
0.82	PFRYX	Putnam Floating Rate	Pair Corr
0.81	PFRZX	Putnam Floating Rate	Pair Corr
0.94	PGEYX	George Putnam	Pair Corr
0.94	PGEJX	George Putnam Balanced	Pair Corr
0.94	PGEOX	George Putnam	Pair Corr
0.94	PGELX	George Putnam Balanced	Pair Corr
0.93	PGEMX	George Putnam	Pair Corr
0.94	PGIAX	Pnc Fds Gr	Pair Corr
0.94	PGIEX	Putnam Global Industrials	Pair Corr
0.94	PGIOX	Putnam Global Industrials	Pair Corr
0.94	PGILX	Putnam Global Industrials	Pair Corr
0.93	PGODX	Putnam Growth Opport	Pair Corr
0.93	PGOEX	Putnam Growth Opport	Pair Corr
0.94	PGPRX	George Putnam	Pair Corr
0.93	PGORX	Putnam Growth Opport	Pair Corr
0.93	PGOYX	Putnam Growth Opport	Pair Corr
0.93	PGPCX	George Putnam	Pair Corr
0.83	PGTRX	Putnam Global Technology	Pair Corr

Moving against Putnam Mutual Fund

0.72	PGHAX	Putnam Global Health	Pair Corr
0.66	PGBRX	Putnam Global Income	Pair Corr
0.66	PGGLX	Putnam Global Incm	Pair Corr
0.65	PGGYX	Putnam Global Incm	Pair Corr
0.65	PGGIX	Putnam Global Income	Pair Corr
0.63	PGGDX	Putnam Global Income	Pair Corr
0.44	PGLRX	Putnam Global Equity	Pair Corr
0.43	PGLEX	Putnam Global Equity	Pair Corr
0.34	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.72	PHSRX	Putnam Global Health	Pair Corr
0.72	PHSYX	Putnam Global Health	Pair Corr
0.72	PHSTX	Putnam Global Health	Pair Corr
0.7	PGVCX	Putnam U S	Pair Corr
0.7	PGVRX	Putnam U S	Pair Corr
0.69	PGSIX	Putnam U S	Pair Corr
0.69	PIFRX	Putnam Income	Pair Corr
0.49	PIERX	Putnam International	Pair Corr
0.44	PIGRX	Putnam International	Pair Corr
0.34	PHSBX	Putnam Global Health	Pair Corr

Related Correlations Analysis

	ALTEX	FIKAX	GRHAX	FNCRX	SNPIX	ALEFX	PNRCX
ALTEX		0.04	-0.01	0.21	0.21	-0.53	0.46	ALTEX
FIKAX	0.04		0.6	0.92	-0.95	0.63	0.78	FIKAX
GRHAX	-0.01	0.6		0.81	-0.69	0.73	0.77	GRHAX
FNCRX	0.21	0.92	0.81		-0.87	0.62	0.94	FNCRX
SNPIX	0.21	-0.95	-0.69	-0.87		-0.82	-0.68	SNPIX
ALEFX	-0.53	0.63	0.73	0.62	-0.82		0.4	ALEFX
PNRCX	0.46	0.78	0.77	0.94	-0.68	0.4		PNRCX
	ALTEX	FIKAX	GRHAX	FNCRX	SNPIX	ALEFX	PNRCX

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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

PNRCX	+ 0.94	FNCRX
FNCRX	+ 0.92	FIKAX
FNCRX	+ 0.81	GRHAX
PNRCX	+ 0.78	FIKAX
PNRCX	+ 0.77	GRHAX
ALEFX	+ 0.73	GRHAX

High negative correlations

SNPIX	- 0.95	FIKAX
SNPIX	- 0.87	FNCRX
ALEFX	- 0.82	SNPIX
SNPIX	- 0.69	GRHAX
PNRCX	- 0.68	SNPIX
ALEFX	- 0.53	ALTEX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Equity 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 Equity'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
ALTEX	1.35	(0.19)	0.00	(0.05)	0.00	0.00	2.83	(2.74)	9.14
FIKAX	0.97	(0.01)	(0.02)	0.11	1.28	(0.93)	2.07	(2.13)	5.82
GRHAX	1.10	0.08	0.05	0.20	1.29	(1.14)	2.55	(1.86)	8.81
FNCRX	0.77	(0.01)	(0.04)	0.10	1.03	(0.79)	1.60	(1.81)	5.15
SNPIX	0.91	(0.04)	0.00	0.18	0.00	0.00	2.04	(1.71)	6.81
ALEFX	0.63	0.23	0.28	0.64	0.00	(0.84)	1.37	(0.74)	3.08
PNRCX	0.92	(0.05)	(0.04)	0.07	1.37	(0.86)	2.10	(2.27)	7.19

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