Putnam Dynamic Correlations

PABAX Fund

USD 17.85 0.10 0.56%

The current 90-days correlation between Putnam Dynamic Asset and Fa 529 Aggressive is 0.06 (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

Average diversification

The correlation between Putnam Dynamic Asset and DJI is 0.11 (i.e., Average 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 nation.

Moving together with Putnam Mutual Fund

0.96	FBONX	American Funds American	Pair Corr
0.96	FBAFX	American Funds American	Pair Corr
0.96	ABALX	American Balanced	Pair Corr
0.96	BALCX	American Balanced	Pair Corr
0.96	BALFX	American Balanced	Pair Corr
0.96	RLBCX	American Balanced	Pair Corr
0.96	RLBBX	American Balanced	Pair Corr
0.96	CLBAX	American Balanced	Pair Corr
0.96	CLBEX	American Balanced	Pair Corr
0.96	RLBFX	American Balanced	Pair Corr
0.66	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.75	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.68	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	CVX	Chevron Corp Sell-off Trend	Pair Corr

Moving against Putnam Mutual Fund

0.38	HLDCX	Hartford Emerging	Pair Corr
0.37	HLDIX	Hartford Emerging	Pair Corr
0.36	HLDRX	Hartford Emerging	Pair Corr
0.35	HLDAX	Hartford Emerging	Pair Corr
0.31	HLDTX	Hartford Emerging	Pair Corr
0.45	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.45	KO	Coca Cola Aggressive Push	Pair Corr
0.35	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	FFCGX	BBIIX	VOLMX	ADOIX	FALCX	CPUCX	IAADX
FFCGX		-0.12	0.8	0.88	0.0	-0.41	0.27	FFCGX
BBIIX	-0.12		-0.39	-0.43	0.0	0.78	0.75	BBIIX
VOLMX	0.8	-0.39		0.95	0.0	-0.72	-0.19	VOLMX
ADOIX	0.88	-0.43	0.95		0.0	-0.73	-0.12	ADOIX
FALCX	0.0	0.0	0.0	0.0		0.0	0.0	FALCX
CPUCX	-0.41	0.78	-0.72	-0.73	0.0		0.7	CPUCX
IAADX	0.27	0.75	-0.19	-0.12	0.0	0.7		IAADX
	FFCGX	BBIIX	VOLMX	ADOIX	FALCX	CPUCX	IAADX

Click cells to compare fundamentals

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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

ADOIX	+ 0.95	VOLMX
ADOIX	+ 0.88	FFCGX
VOLMX	+ 0.8	FFCGX
CPUCX	+ 0.78	BBIIX
IAADX	+ 0.75	BBIIX
IAADX	+ 0.7	CPUCX

High negative correlations

CPUCX	- 0.73	ADOIX
CPUCX	- 0.72	VOLMX
ADOIX	- 0.43	BBIIX
CPUCX	- 0.41	FFCGX
VOLMX	- 0.39	BBIIX
IAADX	- 0.19	VOLMX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FFCGX	0.56	(0.04)	(0.10)	0.07	0.69	(0.60)	1.26	(1.23)	3.41
BBIIX	0.12	0.01	(0.43)	(0.06)	0.14	(0.18)	0.29	(0.29)	1.17
VOLMX	0.60	0.00	(0.01)	0.13	0.58	(0.70)	1.14	(1.35)	4.49
ADOIX	0.43	(0.01)	(0.10)	0.10	0.62	(0.44)	1.03	(1.22)	2.95
FALCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CPUCX	0.25	(0.01)	0.00	0.33	0.00	0.00	0.44	(0.54)	1.29
IAADX	0.16	0.00	(0.66)	(0.16)	0.13	(0.22)	0.32	(0.32)	1.19

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