Putnam Premier Correlations

PPT Etf

USD 3.62 0.01 0.28%

The current 90-days correlation between Putnam Premier Income and Western Asset High is 0.3 (i.e., Weak diversification). The correlation of Putnam Premier 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 Premier Correlation With Market

Poor diversification

The correlation between Putnam Premier Income and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Premier Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Putnam Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Putnam Premier Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Putnam Etf

0.62	HHI	Henderson High Income	Pair Corr
0.77	FT	Franklin Universal Closed	Pair Corr
0.72	RA	Brookfield Real Assets	Pair Corr
0.76	WT	WisdomTree	Pair Corr
0.64	JLEN	JLEN Environmental Assets	Pair Corr
0.71	MNG	MG Plc	Pair Corr
0.77	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.62	ALPN	Alpine Select AG	Pair Corr
0.72	SII	Sprott Inc	Pair Corr
0.76	XOX-P	Planet X Capital	Pair Corr

Moving against Putnam Etf

0.65	55O1	Apollo Investment Corp	Pair Corr
0.55	NP	Neptune Insurance Earnings Call This Week	Pair Corr
0.45	BX	Blackstone Group	Pair Corr
0.75	MFG	Magellan Financial Earnings Call This Week	Pair Corr
0.55	DMYY	dMY Squared Technology	Pair Corr
0.76	ALHGO	Hamilton Global Oppo	Pair Corr
0.64	ATY	Athelney Trust plc	Pair Corr
0.33	VRTS	Virtus Investment	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

Putnam Premier Competition Risk-Adjusted Indicators

There is a big difference between Putnam Etf performing well and Putnam Premier ETF 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 Premier'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
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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