Putnam Dynamic Correlations

Mutual Funds . USA . 
Fund . Putnam Dynamic Asset
PAADX Fund  USD 17.38  0.06  0.35%   
The current 90-days correlation between Putnam Dynamic Asset and Baird Intermediate Bond is 0.05 (i.e., Significant diversification). The correlation of Putnam Dynamic 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 Dynamic Correlation With Market

Very poor diversification

The correlation between Putnam Dynamic Asset and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Dynamic Asset 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 Dynamic Asset. 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 private.

Moving together with Putnam Mutual Fund

  0.82PEXTX Putnam Tax ExemptPairCorr
  0.91PFJAX Putnam High YieldPairCorr
  0.79PFLLX Putnam Floating RatePairCorr
  0.81PFRYX Putnam Floating RatePairCorr
  0.82PFRZX Putnam Floating RatePairCorr
  0.75PGBRX Putnam Global IncomePairCorr
  1.0PGEYX George PutnamPairCorr
  0.94PGFMX Putnam Global FinancialsPairCorr
  1.0PGEJX George Putnam BalancedPairCorr
  1.0PGELX George Putnam BalancedPairCorr
  1.0PGEMX George PutnamPairCorr
  0.81PGGYX Putnam Global IncmPairCorr
  0.64PGHAX Putnam Global HealthPairCorr
  0.8PGGDX Putnam Global IncomePairCorr
  0.81PGGEX Putnam Global IncomePairCorr
  1.0PGIOX Putnam Global IndustrialsPairCorr
  1.0PGILX Putnam Global IndustrialsPairCorr
  0.91PGLEX Putnam Global EquityPairCorr
  0.91PGLRX Putnam Global EquityPairCorr
  0.88PGOEX Putnam Growth OpportPairCorr
  1.0PGPRX George PutnamPairCorr
  0.91PGORX Putnam Growth OpportPairCorr
  0.96PGTRX Putnam Global TechnologyPairCorr
  0.95PGTYX Putnam Global TechnologyPairCorr
  1.0PGWTX Putnam Focused EquityPairCorr
  0.85PGVRX Putnam U SPairCorr
  0.92PYSCX Putnam Equity SpectrumPairCorr
  0.95PYSVX Putnam Small CapPairCorr
  0.89PYSTX Putnam Short TermPairCorr
  0.93PHAYX Putnam High YieldPairCorr
  0.9PGP Pimco Global StocksplusPairCorr
  0.92PHPDX Putnam RetirementPairCorr
  0.77PHSRX Putnam Global HealthPairCorr
  0.75PHSYX Putnam Global HealthPairCorr
  0.91PHYMX Putnam High YieldPairCorr
  0.92PHYUX Putnam High YieldPairCorr
  0.99PICOX Putnam InternationalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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