Putnam Equity Correlations

PEQNX Fund

USD 35.78 0.00 0.00%

The current 90-days correlation between Putnam Equity Income and Shelton Emerging Markets is 0.17 (i.e., Average 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

Good diversification

The correlation between Putnam Equity Income and DJI is -0.01 (i.e., Good 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 board of governors.

Moving together with Putnam Mutual Fund

0.68

PGNBX

Putnam International

Pair Corr

Moving against Putnam Mutual Fund

0.71	PFRBX	Putnam Floating Rate	Pair Corr
0.69	PFJAX	Putnam High Yield	Pair Corr
0.55	PGEYX	George Putnam Potential Growth	Pair Corr
0.55	PGEJX	George Putnam Balanced	Pair Corr
0.55	PGEOX	George Putnam	Pair Corr
0.55	PGELX	George Putnam Balanced	Pair Corr
0.55	PGEMX	George Putnam	Pair Corr
0.55	PGPRX	George Putnam	Pair Corr
0.49	PGIEX	Putnam Global Industrials	Pair Corr
0.49	PGIOX	Putnam Global Industrials	Pair Corr
0.49	PGODX	Putnam Growth Opport	Pair Corr
0.49	PGOEX	Putnam Growth Opport	Pair Corr
0.49	PGORX	Putnam Growth Opport	Pair Corr
0.48	PFLLX	Putnam Floating Rate	Pair Corr
0.48	PFRYX	Putnam Floating Rate	Pair Corr
0.46	PFICX	Putnam Floating Rate	Pair Corr
0.46	PFLRX	Putnam Floating Rate	Pair Corr
0.46	PFRZX	Putnam Floating Rate	Pair Corr
0.34	PEYAX	Putnam Equity Income	Pair Corr
0.91	PMABX	Putnam Massachusetts Tax	Pair Corr
0.65	PHAYX	Putnam High Yield	Pair Corr
0.54	PGPCX	George Putnam Potential Growth	Pair Corr
0.49	PGOYX	Putnam Growth Opport	Pair Corr
0.44	PGTDX	Putnam Global Technology	Pair Corr
0.44	PGTAX	Putnam Global Technology	Pair Corr
0.44	PYSTX	Putnam Short Term	Pair Corr
0.4	PGP	Pimco Global Stocksplus	Pair Corr
0.36	PHYBX	Putnam High Yield	Pair Corr
0.35	PLFGX	Putnam Retirement	Pair Corr
0.32	PMPCX	Putnam Multi Cap	Pair Corr

Related Correlations Analysis

	EMSLX	QLMETX	RYMBX	MFTFX	REVIX	REMVX	VEIEX
EMSLX		0.28	0.71	-0.32	0.93	0.92	0.91	EMSLX
QLMETX	0.28		0.38	-0.47	0.33	0.17	0.46	QLMETX
RYMBX	0.71	0.38		-0.4	0.74	0.7	0.75	RYMBX
MFTFX	-0.32	-0.47	-0.4		-0.33	-0.2	-0.42	MFTFX
REVIX	0.93	0.33	0.74	-0.33		0.98	0.98	REVIX
REMVX	0.92	0.17	0.7	-0.2	0.98		0.94	REMVX
VEIEX	0.91	0.46	0.75	-0.42	0.98	0.94		VEIEX
	EMSLX	QLMETX	RYMBX	MFTFX	REVIX	REMVX	VEIEX

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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

REMVX	+ 0.98	REVIX
VEIEX	+ 0.98	REVIX
VEIEX	+ 0.94	REMVX
REVIX	+ 0.93	EMSLX
REMVX	+ 0.92	EMSLX
VEIEX	+ 0.91	EMSLX

High negative correlations

MFTFX	- 0.47	QLMETX
VEIEX	- 0.42	MFTFX
MFTFX	- 0.4	RYMBX
REVIX	- 0.33	MFTFX
MFTFX	- 0.32	EMSLX
REMVX	- 0.2	MFTFX

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
EMSLX	0.72	(0.03)	0.00	(1.49)	0.00	0.00	1.76	(1.08)	6.36
QLMETX	0.47	0.02	(0.02)	0.15	0.33	(0.56)	0.88	(0.87)	3.24
RYMBX	0.94	(0.02)	0.00	0.40	0.00	0.00	1.84	(2.13)	4.53
MFTFX	0.97	(0.15)	0.00	(0.08)	0.00	0.00	1.70	(1.95)	5.42
REVIX	0.73	(0.05)	(0.13)	0.00	0.87	(0.87)	1.44	(1.71)	5.60
REMVX	0.85	(0.08)	0.00	(0.08)	0.00	0.00	1.74	(2.04)	6.85
VEIEX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.55	(1.68)	4.60

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