Putnam High Correlations

Mutual Funds . USA . 
Fund . Putnam High Yield
PFJAX Fund  USD 5.32  0.01  0.19%   
The current 90-days correlation between Putnam High Yield and Goldman Sachs Clean is 0.18 (i.e., Average diversification). The correlation of Putnam High 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 High Correlation With Market

Good diversification

The correlation between Putnam High Yield and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam High Yield 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 High Yield. 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

  0.98PEYAX Putnam Equity IncomePairCorr
  0.68PEXTX Putnam Tax ExemptPairCorr
  0.98PFICX Putnam Floating RatePairCorr
  0.98PFLRX Putnam Floating RatePairCorr
  0.98PFLLX Putnam Floating RatePairCorr
  0.98PFRYX Putnam Floating RatePairCorr
  0.98PFRZX Putnam Floating RatePairCorr
  0.61PXMAX Putnam Massachusetts TaxPairCorr
  0.74PXMNX Putnam Minnesota TaxPairCorr
  0.63PXOHX Putnam Ohio TaxPairCorr
  0.75PGBRX Putnam Global IncomePairCorr
  0.98PGEYX George PutnamPairCorr
  0.99PGFMX Putnam Global FinancialsPairCorr
  0.98PGEJX George Putnam BalancedPairCorr
  0.99PGEOX George PutnamPairCorr
  0.99PGELX George Putnam BalancedPairCorr
  0.98PGEMX George PutnamPairCorr
  0.77PGGYX Putnam Global IncmPairCorr
  0.77PGGDX Putnam Global IncomePairCorr
  0.77PGGEX Putnam Global IncomePairCorr
  0.7PGGLX Putnam Global IncmPairCorr
  0.81PGGIX Putnam Global IncomePairCorr
  0.98PGIAX Pnc Fds GrPairCorr
  0.98PGIEX Putnam Global IndustrialsPairCorr
  0.98PGIOX Putnam Global IndustrialsPairCorr
  0.98PGILX Putnam Global IndustrialsPairCorr
  0.97PGLEX Putnam Global EquityPairCorr
  0.98PGLRX Putnam Global EquityPairCorr
  0.98PGODX Putnam Growth OpportPairCorr
  0.98PGOEX Putnam Growth OpportPairCorr
  0.99PGPRX George PutnamPairCorr
  0.98PGORX Putnam Growth OpportPairCorr
  0.98PGOYX Putnam Growth OpportPairCorr
  0.99PGPCX George PutnamPairCorr
  0.76PGSIX 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 High 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 High'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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