Putnam Dynamic Correlations

Mutual Funds . USA . 
Fund . Putnam Dynamic Asset
PACAX Fund  USD 11.24  0.02  0.18%   
The current 90-days correlation between Putnam Dynamic Asset and Dunham Large Cap is 0.57 (i.e., Very weak 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 0.8 (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 nation.

Moving together with Putnam Mutual Fund

  0.93PEYAX Putnam Equity IncomePairCorr
  0.9TEBIX Franklin Mutual BeaconPairCorr
  0.79TEDMX Templeton DevelopingPairCorr
  0.93TEDIX Franklin Mutual GlobalPairCorr
  0.9TEDSX Franklin Mutual GlobalPairCorr
  0.9TEDRX Franklin Mutual GlobalPairCorr
  0.87TEFRX Templeton ForeignPairCorr
  0.87TEFTX Templeton ForeignPairCorr
  0.7TEGBX Templeton Global BondPairCorr
  0.85TEGRX Templeton GrowthPairCorr
  0.88TEMFX Templeton ForeignPairCorr
  0.95TEMGX Templeton Global SmallerPairCorr
  0.9TEMEX Franklin Mutual BeaconPairCorr
  0.61TEMMX Templeton EmergingPairCorr
  0.92TEMIX Franklin Mutual EuropeanPairCorr
  0.69TEMWX Templeton WorldPairCorr
  0.7TEMTX Franklin Mutual SharesPairCorr
  0.93TEMQX Mutual QuestPairCorr
  0.64PFICX Putnam Floating RatePairCorr
  0.71FQCTX Franklin Necticut TaxPairCorr
  0.88SAIFX Clearbridge Large CapPairCorr
  0.85SAGYX Clearbridge AggressivePairCorr
  0.77TEMZX Templeton EmergingPairCorr
  0.65FQCHX Franklin Templeton SmacsPairCorr
  0.79FQEMX Franklin Templeton SmacsPairCorr
  0.93TEQIX Franklin Mutual QuestPairCorr
  0.95TEPLX Templeton GrowthPairCorr
  0.69TWDAX Templeton WorldPairCorr
  0.93TESIX Franklin Mutual SharesPairCorr
  0.7TESGX Templeton Global SmallerPairCorr
  0.93TESRX Franklin Mutual SharesPairCorr
  0.84PFLRX Putnam Floating RatePairCorr
  0.89LGGAX Clearbridge InternationalPairCorr
  0.93TEURX Franklin Mutual EuropeanPairCorr
  0.88LGIEX Qs International EquityPairCorr
  0.76FQLAX Franklin Louisiana TaxPairCorr
  0.73TEWTX Templeton WorldPairCorr
  0.85SAPYX Clearbridge AppreciationPairCorr
  0.85SASMX Clearbridge Small CapPairCorr

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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