Putnam Equity Correlations

PEYAX Fund

USD 40.51 0.06 0.15%

The current 90-days correlation between Putnam Equity Income and American Funds 2050 is 0.27 (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

Almost no diversification

The correlation between Putnam Equity Income and DJI is 0.91 (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 nation.

Moving together with Putnam Mutual Fund

0.96	TEDIX	Franklin Mutual Global	Pair Corr
0.72	TEMMX	Templeton Emerging	Pair Corr
0.91	SAIFX	Clearbridge Large Cap	Pair Corr
0.9	TEPLX	Templeton Growth	Pair Corr
0.85	FRAAX	Franklin Growth Oppo	Pair Corr
0.9	FRBRX	Franklin Biotechnology	Pair Corr
0.92	FREIX	Franklin Equity Income	Pair Corr
0.95	FRGOX	Franklin Gold Precious Steady Growth	Pair Corr
0.93	FRNRX	Franklin Natural Res	Pair Corr
0.94	FRVLX	Franklin Small Cap	Pair Corr
0.87	FTCCX	Franklin Conservative	Pair Corr
0.89	FTFZX	Franklin Federal Lim	Pair Corr
0.76	FCOIX	Franklin Orado Tax	Pair Corr
0.76	FCQAX	Franklin California High	Pair Corr
0.94	FCSGX	Franklin Small Cap	Pair Corr
0.92	FCSCX	Franklin Adjustable	Pair Corr
0.89	CIABX	Western Asset Short	Pair Corr
0.93	ARMZX	Western Asset Adjustable	Pair Corr
0.95	BEGRX	Franklin Mutual Beacon	Pair Corr
0.95	FEMDX	Franklin Emerging Market	Pair Corr
0.93	LMGNX	Clearbridge International	Pair Corr
0.92	SHDAX	Legg Mason Western	Pair Corr
0.74	SHMMX	Western Asset Managed	Pair Corr
0.89	SHRAX	Clearbridge Aggressive	Pair Corr
0.92	SINAX	Clearbridge Large Cap	Pair Corr
0.64	PNSAX	Putnam Small Cap	Pair Corr
0.66	PNSCX	Putnam Small Cap	Pair Corr
0.79	FHYIX	Franklin High Yield	Pair Corr
0.96	MUTHX	Franklin Mutual Shares	Pair Corr
0.8	PRCCX	Putnam Convertible Incm	Pair Corr
0.85	LANIX	Qs Growth Fund	Pair Corr
0.94	SMYIX	Qs Global Equity	Pair Corr
0.91	FLDZX	Franklin Low Duration	Pair Corr
0.92	FLDRX	Franklin Low Duration	Pair Corr
0.92	FLDCX	Franklin Low Duration	Pair Corr

Moving against Putnam Mutual Fund

0.4	WAFAX	Western Asset Inflation	Pair Corr
0.54	AMRMX	American Mutual	Pair Corr

Related Correlations Analysis

	ANFFX	MDIZX	MDIDX	RNNEX	CDDRX	CDDYX	FATTX	RBHTX	AAHTX	FAITX
ANFFX		0.91	0.9	0.88	0.93	0.89	0.89	0.88	0.86	0.88	ANFFX
MDIZX	0.91		0.98	0.94	0.91	0.95	0.96	0.96	0.94	0.96	MDIZX
MDIDX	0.9	0.98		0.92	0.89	0.92	0.93	0.93	0.96	0.93	MDIDX
RNNEX	0.88	0.94	0.92		0.84	0.89	0.98	0.98	0.94	0.98	RNNEX
CDDRX	0.93	0.91	0.89	0.84		0.96	0.88	0.87	0.86	0.87	CDDRX
CDDYX	0.89	0.95	0.92	0.89	0.96		0.94	0.94	0.91	0.94	CDDYX
FATTX	0.89	0.96	0.93	0.98	0.88	0.94		1.0	0.95	1.0	FATTX
RBHTX	0.88	0.96	0.93	0.98	0.87	0.94	1.0		0.95	1.0	RBHTX
AAHTX	0.86	0.94	0.96	0.94	0.86	0.91	0.95	0.95		0.95	AAHTX
FAITX	0.88	0.96	0.93	0.98	0.87	0.94	1.0	1.0	0.95		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	0.92	0.27	0.18	0.48	0.83	(0.95)	1.81	(2.06)	12.62
MDIZX	0.49	0.08	0.10	0.21	0.36	(0.55)	1.18	(0.79)	2.30
MDIDX	0.49	0.12	0.11	0.83	0.34	(0.54)	1.16	(0.81)	2.25
RNNEX	0.78	0.09	0.06	0.16	1.06	(0.74)	1.70	(2.08)	4.69
CDDRX	0.53	0.09	0.13	0.17	0.33	(0.67)	1.08	(0.95)	5.84
CDDYX	0.47	0.04	0.03	0.12	0.43	(0.56)	0.97	(0.95)	2.63
FATTX	0.50	0.03	0.01	0.11	0.59	(0.52)	0.96	(1.14)	2.90
RBHTX	0.50	0.03	0.01	0.10	0.59	(0.52)	0.94	(1.17)	2.94
AAHTX	0.50	0.07	0.02	0.67	0.57	(0.51)	0.95	(1.17)	2.96
FAITX	0.51	0.03	0.01	0.10	0.62	(0.52)	1.02	(1.20)	3.03

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