Putnam Equity Correlations

Mutual Funds . USA . 
Fund . Putnam Equity Income
PEYAX Fund  USD 37.19  0.14  0.38%   
The current 90-days correlation between Putnam Equity Income and Putnam Growth Opportunities is 0.79 (i.e., Poor 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 -0.13 (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 nation.

Moving together with Putnam Mutual Fund

  0.98PFICX Putnam Floating RatePairCorr
  0.98PFJAX Putnam High YieldPairCorr
  0.98PFLRX Putnam Floating RatePairCorr
  0.98PFLLX Putnam Floating RatePairCorr
  0.98PFRYX Putnam Floating RatePairCorr
  0.99PFRZX Putnam Floating RatePairCorr
  0.63PXMNX Putnam Minnesota TaxPairCorr
  0.66PGBRX Putnam Global IncomePairCorr
  0.97PGEYX George PutnamPairCorr
  0.98PGFMX Putnam Global FinancialsPairCorr
  0.99PGEJX George Putnam BalancedPairCorr
  0.99PGEOX George PutnamPairCorr
  0.99PGELX George Putnam BalancedPairCorr
  0.99PGEMX George PutnamPairCorr
  0.7PGGYX Putnam Global IncmPairCorr
  0.68PGGDX Putnam Global IncomePairCorr
  0.7PGGEX Putnam Global IncomePairCorr
  0.62PGGLX Putnam Global IncmPairCorr
  0.69PGGIX Putnam Global IncomePairCorr
  0.99PGIAX Pnc Fds GrPairCorr
  0.99PGIEX Putnam Global IndustrialsPairCorr
  0.98PGIOX Putnam Global IndustrialsPairCorr
  0.98PGILX Putnam Global IndustrialsPairCorr
  0.94PGLEX Putnam Global EquityPairCorr
  0.94PGLRX Putnam Global EquityPairCorr
  0.99PGODX Putnam Growth OpportPairCorr
  0.98PGOEX Putnam Growth OpportPairCorr
  0.97PGPRX George PutnamPairCorr
  0.98PGORX Putnam Growth OpportPairCorr
  0.99PGOYX Putnam Growth OpportPairCorr
  0.99PGPCX George PutnamPairCorr
  0.67PGSIX Putnam U SPairCorr

Related Correlations Analysis

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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.

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