Putnam Equity Correlations

PEYAX Fund

USD 39.58 0.33 0.84%

The current 90-days correlation between Putnam Equity Income and New Economy Fund is 0.29 (i.e., Modest 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

Very poor diversification

The correlation between Putnam Equity Income and DJI is 0.85 (i.e., Very poor 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 nation.

Moving together with Putnam Mutual Fund

0.69	TEGRX	Templeton Growth	Pair Corr
0.78	TEMIX	Franklin Mutual European	Pair Corr
0.79	PFICX	Putnam Floating Rate	Pair Corr
0.79	SAIFX	Clearbridge Large Cap	Pair Corr
0.65	SAGYX	Clearbridge Aggressive	Pair Corr
0.62	TEPLX	Templeton Growth	Pair Corr
0.78	PFLRX	Putnam Floating Rate	Pair Corr
0.61	LGGAX	Clearbridge International	Pair Corr
0.8	TEURX	Franklin Mutual European	Pair Corr
0.69	LGIEX	Qs International Equity	Pair Corr
0.7	SAPYX	Clearbridge Appreciation	Pair Corr
0.65	SASMX	Clearbridge Small Cap	Pair Corr

Moving against Putnam Mutual Fund

0.4	TEMWX	Templeton World	Pair Corr
0.38	TWDAX	Templeton World	Pair Corr
0.31	TEMZX	Templeton Emerging	Pair Corr
0.59	TFESX	International Equity	Pair Corr
0.59	TFEQX	International Equity	Pair Corr
0.56	WAFAX	Western Asset Inflation	Pair Corr
0.42	TEWTX	Templeton World	Pair Corr

Related Correlations Analysis

	ANFFX	MDIZX	MDIDX	RNNEX	CDDRX	CDDYX	FATTX	RBHTX	AAHTX	FAITX
ANFFX		0.84	0.84	0.74	0.88	0.79	0.74	0.73	0.75	0.67	ANFFX
MDIZX	0.84		1.0	0.85	0.86	0.89	0.92	0.92	0.93	0.77	MDIZX
MDIDX	0.84	1.0		0.85	0.85	0.89	0.92	0.92	0.93	0.77	MDIDX
RNNEX	0.74	0.85	0.85		0.69	0.79	0.95	0.95	0.95	0.77	RNNEX
CDDRX	0.88	0.86	0.85	0.69		0.93	0.76	0.74	0.76	0.67	CDDRX
CDDYX	0.79	0.89	0.89	0.79	0.93		0.87	0.86	0.87	0.77	CDDYX
FATTX	0.74	0.92	0.92	0.95	0.76	0.87		1.0	1.0	0.83	FATTX
RBHTX	0.73	0.92	0.92	0.95	0.74	0.86	1.0		1.0	0.82	RBHTX
AAHTX	0.75	0.93	0.93	0.95	0.76	0.87	1.0	1.0		0.83	AAHTX
FAITX	0.67	0.77	0.77	0.77	0.67	0.77	0.83	0.82	0.83		FAITX
	ANFFX	MDIZX	MDIDX	RNNEX	CDDRX	CDDYX	FATTX	RBHTX	AAHTX	FAITX

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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
ANFFX	0.99	0.23	0.15	0.37	0.97	(1.04)	2.23	(2.18)	12.25
MDIZX	0.52	0.00	(0.04)	0.07	0.58	(0.56)	1.08	(0.92)	2.59
MDIDX	0.52	0.00	(0.04)	0.07	0.60	(0.56)	1.06	(0.90)	2.62
RNNEX	0.83	0.03	0.02	0.10	1.19	(0.78)	1.70	(2.17)	4.77
CDDRX	0.56	0.04	0.05	0.13	0.44	(0.75)	1.08	(0.96)	5.34
CDDYX	0.49	(0.01)	(0.06)	0.06	0.50	(0.62)	0.93	(0.95)	2.17
FATTX	0.52	(0.01)	(0.04)	0.05	0.67	(0.56)	1.09	(1.14)	2.95
RBHTX	0.52	(0.02)	(0.04)	0.05	0.67	(0.55)	1.16	(1.17)	2.89
AAHTX	0.52	(0.02)	(0.04)	0.05	0.67	(0.54)	1.08	(1.17)	2.96
FAITX	0.54	0.05	(0.02)	0.52	0.69	(0.56)	1.15	(1.19)	3.08

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