George Putnam Correlations

Mutual Funds . USA . 
Fund . George Putnam Fund
PGPCX Fund  USD 26.54  0.02  0.08%   
The current 90-days correlation between George Putnam and Ab High Income is -0.07 (i.e., Good diversification). The correlation of George Putnam 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.

George Putnam Correlation With Market

Poor diversification

The correlation between George Putnam Fund and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding George Putnam Fund 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 George Putnam Fund. 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 main economic indicators.

Moving together with George Mutual Fund

  0.98PFLLX Putnam Floating RatePairCorr
  0.97PFRZX Putnam Floating RatePairCorr
  0.66PGBRX Putnam Global IncomePairCorr
  1.0PGEYX George PutnamPairCorr
  1.0PGEJX George Putnam BalancedPairCorr
  1.0PGEMX George PutnamPairCorr
  0.72PGGDX Putnam Global IncomePairCorr
  0.68PGGLX Putnam Global IncmPairCorr
  1.0PGIOX Putnam Global IndustrialsPairCorr
  1.0PGILX Putnam Global IndustrialsPairCorr
  0.96PGLEX Putnam Global EquityPairCorr
  0.85PGLRX Putnam Global EquityPairCorr
  0.99PGODX Putnam Growth OpportPairCorr
  0.99PGOEX Putnam Growth OpportPairCorr
  0.66PGSIX Putnam U SPairCorr
  0.99PGTRX Putnam Global TechnologyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between George Mutual Fund performing well and George Putnam 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 George Putnam'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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