Putnam Convertible Correlations

PCNTX Fund

USD 29.11 0.12 0.41%

The current 90-days correlation between Putnam Convertible and Putnam Equity Income is 0.58 (i.e., Very weak diversification). The correlation of Putnam Convertible 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 Convertible Correlation With Market

Poor diversification

The correlation between Putnam Convertible Securities and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Convertible Securities 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 Convertible Securities. 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 manufacturing.

Moving together with Putnam Mutual Fund

0.82	PEYAX	Putnam Equity Income	Pair Corr
0.79	PEXTX	Putnam Tax Exempt	Pair Corr
0.79	PFJAX	Putnam High Yield	Pair Corr
0.81	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.94	PXMNX	Putnam Minnesota Tax	Pair Corr
0.93	PXOHX	Putnam Ohio Tax	Pair Corr
0.84	PGBRX	Putnam Global Income	Pair Corr
0.92	PGEYX	George Putnam	Pair Corr
0.92	PGFMX	Putnam Global Financials	Pair Corr
0.92	PGEJX	George Putnam Balanced	Pair Corr
0.92	PGEOX	George Putnam	Pair Corr
0.92	PGELX	George Putnam Balanced	Pair Corr
0.92	PGEMX	George Putnam	Pair Corr
0.85	PGGYX	Putnam Global Incm	Pair Corr
0.85	PGHAX	Putnam Global Health	Pair Corr
0.85	PGGDX	Putnam Global Income	Pair Corr
0.85	PGGEX	Putnam Global Income	Pair Corr
0.82	PGGLX	Putnam Global Incm	Pair Corr
0.85	PGGIX	Putnam Global Income	Pair Corr
0.92	PGIAX	Pnc Fds Gr	Pair Corr
0.91	PGIEX	Putnam Global Industrials	Pair Corr
0.92	PGIOX	Putnam Global Industrials	Pair Corr
0.92	PGILX	Putnam Global Industrials	Pair Corr
0.93	PGLEX	Putnam Global Equity	Pair Corr
0.93	PGLRX	Putnam Global Equity	Pair Corr
0.88	PGODX	Putnam Growth Opport	Pair Corr
0.88	PGOEX	Putnam Growth Opport	Pair Corr
0.92	PGPRX	George Putnam	Pair Corr
0.88	PGORX	Putnam Growth Opport	Pair Corr
0.88	PGOYX	Putnam Growth Opport	Pair Corr
0.92	PGPCX	George Putnam	Pair Corr
0.8	PGSIX	Putnam U S	Pair Corr

Related Correlations Analysis

	PEYAX	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRYX	PFRZX	PXMAX	PXMNX
PEYAX		0.79	0.51	0.9	0.59	0.56	0.63	0.65	0.8	0.77	PEYAX
PEXTX	0.79		0.51	0.92	0.64	0.54	0.66	0.68	1.0	0.85	PEXTX
PFICX	0.51	0.51		0.64	0.96	0.87	0.95	0.94	0.52	0.46	PFICX
PFJAX	0.9	0.92	0.64		0.75	0.68	0.77	0.79	0.92	0.83	PFJAX
PFLRX	0.59	0.64	0.96	0.75		0.89	0.99	0.97	0.65	0.58	PFLRX
PFLLX	0.56	0.54	0.87	0.68	0.89		0.9	0.87	0.54	0.5	PFLLX
PFRYX	0.63	0.66	0.95	0.77	0.99	0.9		0.98	0.66	0.59	PFRYX
PFRZX	0.65	0.68	0.94	0.79	0.97	0.87	0.98		0.68	0.61	PFRZX
PXMAX	0.8	1.0	0.52	0.92	0.65	0.54	0.66	0.68		0.87	PXMAX
PXMNX	0.77	0.85	0.46	0.83	0.58	0.5	0.59	0.61	0.87		PXMNX
	PEYAX	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRYX	PFRZX	PXMAX	PXMNX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Convertible 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 Convertible'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
PEYAX	0.44	(0.02)	(0.05)	0.05	0.51	(0.49)	1.11	(0.69)	3.46
PEXTX	0.16	0.08	0.07	(2.97)	0.00	(0.28)	0.53	(0.13)	1.05
PFICX	0.06	(0.01)	0.00	(0.73)	0.00	0.00	0.13	(0.25)	0.77
PFJAX	0.11	0.01	(0.17)	0.15	0.00	(0.23)	0.37	(0.19)	0.75
PFLRX	0.08	(0.01)	(0.45)	(0.18)	0.07	(0.28)	0.13	(0.13)	0.90
PFLLX	0.08	(0.01)	(0.45)	(5.26)	0.07	(0.30)	0.26	(0.13)	0.89
PFRYX	0.08	(0.01)	(0.43)	(0.42)	0.08	(0.27)	0.13	(0.13)	1.02
PFRZX	0.08	(0.01)	(0.41)	(0.14)	0.06	(0.24)	0.13	(0.13)	1.02
PXMAX	0.14	0.06	(0.04)	(1.90)	0.00	(0.26)	0.35	(0.12)	0.80
PXMNX	0.15	0.05	(0.11)	10.37	0.00	(0.23)	0.46	(0.24)	0.94

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Putnam Convertible Correlations

Putnam Convertible Correlation With Market

Poor diversification

Moving together with Putnam Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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