Putnam U Correlations

PGSIX Fund

USD 7.72 0.01 0.13%

The current 90-days correlation between Putnam U S and Putnam Equity Income is 0.11 (i.e., Average diversification). The correlation of Putnam U 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 U Correlation With Market

Weak diversification

The correlation between Putnam U S and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam U S 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 U S. 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 gross domestic product.

Moving together with Putnam Mutual Fund

0.62	PEYAX	Putnam Equity Income	Pair Corr
0.69	PEXTX	Putnam Tax Exempt	Pair Corr
0.62	PFJAX	Putnam High Yield	Pair Corr
0.68	PFLLX	Putnam Floating Rate	Pair Corr
0.68	PFRZX	Putnam Floating Rate	Pair Corr
0.73	PXMNX	Putnam Minnesota Tax	Pair Corr
0.93	PGBRX	Putnam Global Income	Pair Corr
0.75	PGFMX	Putnam Global Financials	Pair Corr
0.73	PGEJX	George Putnam Balanced	Pair Corr
0.73	PGELX	George Putnam Balanced	Pair Corr
0.92	PGGYX	Putnam Global Incm	Pair Corr
0.93	PGGDX	Putnam Global Income	Pair Corr
0.93	PGGEX	Putnam Global Income	Pair Corr
0.92	PGGLX	Putnam Global Incm	Pair Corr
0.92	PGGIX	Putnam Global Income	Pair Corr
0.7	PGIAX	Pnc Fds Gr	Pair Corr
0.7	PGIEX	Putnam Global Industrials	Pair Corr
0.7	PGIOX	Putnam Global Industrials	Pair Corr
0.72	PGLEX	Putnam Global Equity	Pair Corr
0.72	PGLRX	Putnam Global Equity	Pair Corr
0.68	PGODX	Putnam Growth Opport	Pair Corr
0.68	PGOEX	Putnam Growth Opport	Pair Corr
0.68	PGORX	Putnam Growth Opport	Pair Corr
0.68	PGOYX	Putnam Growth Opport	Pair Corr
0.73	PGPCX	George Putnam	Pair Corr
0.68	PGTRX	Putnam Global Technology	Pair Corr

Related Correlations Analysis

	PEYAX	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRBX	PFRYX	PFRZX	PXMAX
PEYAX		0.42	0.84	0.84	0.84	0.73	0.0	0.84	0.73	0.34	PEYAX
PEXTX	0.42		0.33	0.36	0.33	0.45	0.0	0.33	0.45	0.97	PEXTX
PFICX	0.84	0.33		0.97	1.0	0.65	0.0	1.0	0.65	0.24	PFICX
PFJAX	0.84	0.36	0.97		0.97	0.62	0.0	0.97	0.62	0.24	PFJAX
PFLRX	0.84	0.33	1.0	0.97		0.65	0.0	1.0	0.65	0.24	PFLRX
PFLLX	0.73	0.45	0.65	0.62	0.65		0.0	0.65	1.0	0.39	PFLLX
PFRBX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PFRBX
PFRYX	0.84	0.33	1.0	0.97	1.0	0.65	0.0		0.64	0.24	PFRYX
PFRZX	0.73	0.45	0.65	0.62	0.65	1.0	0.0	0.64		0.39	PFRZX
PXMAX	0.34	0.97	0.24	0.24	0.24	0.39	0.0	0.24	0.39		PXMAX
	PEYAX	PEXTX	PFICX	PFJAX	PFLRX	PFLLX	PFRBX	PFRYX	PFRZX	PXMAX

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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

PFLRX	+ 1.0	PFICX
PFRYX	+ 1.0	PFICX
PFRYX	+ 1.0	PFLRX
PFRZX	+ 1.0	PFLLX
PXMAX	+ 0.97	PEXTX
PFJAX	+ 0.97	PFICX

High negative correlations

PXMAX	- 0.0	PFRBX
PFRZX	- 0.0	PFRBX
PFRYX	- 0.0	PFRBX
PFRBX	- 0.0	PFLLX
PFRBX	- 0.0	PFLRX
PFRBX	- 0.0	PFJAX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam U 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 U'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	0.56	0.24	0.15	(2.50)	0.24	(0.69)	1.57	(0.81)	4.75
PEXTX	0.17	(0.01)	(0.48)	0.04	0.14	(0.25)	0.40	(0.27)	1.20
PFICX	0.11	0.05	0.00	1.65	0.00	0.00	0.51	0.00	0.78
PFJAX	0.15	0.07	(0.24)	1.68	0.00	(0.25)	0.39	(0.19)	1.17
PFLRX	0.12	0.06	(0.51)	1.62	0.00	(0.22)	0.52	(0.13)	0.78
PFLLX	0.12	0.04	(0.48)	0.65	0.00	(0.21)	0.52	(0.13)	0.78
PFRBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFRYX	0.11	0.05	(0.50)	1.08	0.00	(0.21)	0.51	(0.13)	0.76
PFRZX	0.11	0.04	(0.56)	0.70	0.00	(0.23)	0.51	(0.13)	0.89
PXMAX	0.13	(0.01)	(0.63)	(0.01)	0.10	(0.21)	0.35	(0.23)	0.92

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