Putnam Dynamic Correlations

PABAX Fund

USD 17.18 0.02 0.12%

The current 90-days correlation between Putnam Dynamic Asset and Lazard International Strategic is 0.13 (i.e., Average 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

Almost no diversification

The correlation between Putnam Dynamic Asset and DJI is 0.92 (i.e., Almost no 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

0.95	PEYAX	Putnam Equity Income	Pair Corr
0.93	TEBIX	Franklin Mutual Beacon	Pair Corr
0.84	TEDMX	Templeton Developing	Pair Corr
0.95	TEDIX	Franklin Mutual Global	Pair Corr
0.95	TEDSX	Franklin Mutual Global	Pair Corr
0.92	TEDRX	Franklin Mutual Global	Pair Corr
0.89	TEFRX	Templeton Foreign	Pair Corr
0.9	TEFTX	Templeton Foreign	Pair Corr
0.77	TEGBX	Templeton Global Bond	Pair Corr
0.86	TEGRX	Templeton Growth	Pair Corr
0.9	TEMFX	Templeton Foreign	Pair Corr
0.93	TEMGX	Templeton Global Smaller	Pair Corr
0.93	TEMEX	Franklin Mutual Beacon	Pair Corr
0.78	TEMMX	Templeton Emerging	Pair Corr
0.94	TEMIX	Franklin Mutual European	Pair Corr
0.92	TEMWX	Templeton World	Pair Corr
0.95	TEMTX	Franklin Mutual Shares	Pair Corr
0.91	TEMQX	Mutual Quest	Pair Corr
0.72	PFICX	Putnam Floating Rate	Pair Corr
0.73	FQCTX	Franklin Necticut Tax	Pair Corr
0.89	SAIFX	Clearbridge Large Cap	Pair Corr
0.74	SAGYX	Clearbridge Aggressive	Pair Corr
0.79	TEMZX	Templeton Emerging	Pair Corr
0.85	FQCHX	Franklin Templeton Smacs	Pair Corr
0.83	FQEMX	Franklin Templeton Smacs	Pair Corr
0.91	TEQIX	Franklin Mutual Quest	Pair Corr
0.96	TEPLX	Templeton Growth	Pair Corr
0.87	TWDAX	Templeton World	Pair Corr
0.94	TESIX	Franklin Mutual Shares	Pair Corr
0.89	TESGX	Templeton Global Smaller	Pair Corr
0.92	TESRX	Franklin Mutual Shares	Pair Corr
0.78	PFLRX	Putnam Floating Rate	Pair Corr
0.93	LGGAX	Clearbridge International	Pair Corr
0.92	TEURX	Franklin Mutual European	Pair Corr
0.9	LGIEX	Qs International Equity	Pair Corr
0.79	FQLAX	Franklin Louisiana Tax	Pair Corr
0.92	TEWTX	Templeton World	Pair Corr
0.85	SAPYX	Clearbridge Appreciation	Pair Corr
0.86	SASMX	Clearbridge Small Cap	Pair Corr
0.77	FQNCX	Franklin North Carolina	Pair Corr

Related Correlations Analysis

	TWVLX	BREIX	IALAX	SWMCX	ALVIX	ARTOX	DUSQX	PNSAX	GSHIX	LISOX
TWVLX		0.78	-0.64	0.92	0.88	0.9	0.78	0.76	0.9	0.94	TWVLX
BREIX	0.78		-0.2	0.93	0.84	0.88	0.88	0.84	0.86	0.84	BREIX
IALAX	-0.64	-0.2		-0.38	-0.43	-0.41	-0.17	-0.2	-0.42	-0.5	IALAX
SWMCX	0.92	0.93	-0.38		0.87	0.93	0.91	0.9	0.93	0.95	SWMCX
ALVIX	0.88	0.84	-0.43	0.87		0.95	0.78	0.73	0.88	0.9	ALVIX
ARTOX	0.9	0.88	-0.41	0.93	0.95		0.89	0.81	0.92	0.95	ARTOX
DUSQX	0.78	0.88	-0.17	0.91	0.78	0.89		0.81	0.89	0.87	DUSQX
PNSAX	0.76	0.84	-0.2	0.9	0.73	0.81	0.81		0.82	0.87	PNSAX
GSHIX	0.9	0.86	-0.42	0.93	0.88	0.92	0.89	0.82		0.92	GSHIX
LISOX	0.94	0.84	-0.5	0.95	0.9	0.95	0.87	0.87	0.92		LISOX
	TWVLX	BREIX	IALAX	SWMCX	ALVIX	ARTOX	DUSQX	PNSAX	GSHIX	LISOX

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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

LISOX	+ 0.95	SWMCX
ARTOX	+ 0.95	ALVIX
LISOX	+ 0.95	ARTOX
LISOX	+ 0.94	TWVLX
SWMCX	+ 0.93	BREIX
ARTOX	+ 0.93	SWMCX

High negative correlations

IALAX	- 0.64	TWVLX
LISOX	- 0.5	IALAX
ALVIX	- 0.43	IALAX
GSHIX	- 0.42	IALAX
ARTOX	- 0.41	IALAX
SWMCX	- 0.38	IALAX

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
TWVLX	0.55	0.12	0.18	0.21	0.36	(0.73)	1.27	(1.02)	3.18
BREIX	0.76	0.04	0.03	0.07	0.98	(0.74)	1.64	(1.62)	5.20
IALAX	1.48	(0.25)	0.00	2.94	0.00	0.00	2.87	(3.55)	10.51
SWMCX	0.67	0.05	0.06	0.09	0.72	(0.72)	1.57	(1.59)	4.27
ALVIX	0.67	0.30	0.43	0.74	0.00	(0.96)	1.32	(1.00)	12.07
ARTOX	0.28	0.06	0.09	0.19	0.06	(0.34)	0.66	(0.49)	3.32
DUSQX	0.55	(0.01)	(0.02)	0.02	0.78	(0.52)	1.12	(1.49)	3.49
PNSAX	1.10	0.09	0.04	0.47	1.28	(1.27)	2.22	(2.54)	7.04
GSHIX	0.11	0.01	(0.09)	0.20	0.00	(0.25)	0.18	(0.18)	1.06
LISOX	0.58	0.09	0.11	0.17	0.54	(0.63)	1.26	(1.07)	2.64

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