Putnam Dynamic Correlations

Mutual Funds . USA . 
Fund . Putnam Dynamic Asset
PACAX Fund  USD 11.36  0.03  0.26%   
The current 90-days correlation between Putnam Dynamic Asset and Tfa Alphagen Growth is 0.07 (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

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

  0.94PEYAX Putnam Equity IncomePairCorr
  0.93TEBIX Franklin Mutual BeaconPairCorr
  0.87TEDMX Templeton DevelopingPairCorr
  0.95TEDIX Franklin Mutual GlobalPairCorr
  0.95TEDSX Franklin Mutual GlobalPairCorr
  0.95TEDRX Franklin Mutual GlobalPairCorr
  0.91TEFRX Templeton ForeignPairCorr
  0.91TEFTX Templeton ForeignPairCorr
  0.82TEGBX Templeton Global BondPairCorr
  0.85TEGRX Templeton GrowthPairCorr
  0.91TEMFX Templeton ForeignPairCorr
  0.91TEMGX Templeton Global SmallerPairCorr
  0.93TEMEX Franklin Mutual BeaconPairCorr
  0.84TEMMX Templeton EmergingPairCorr
  0.93TEMIX Franklin Mutual EuropeanPairCorr
  0.83TEMWX Templeton WorldPairCorr
  0.94TEMTX Franklin Mutual SharesPairCorr
  0.92TEMQX Mutual QuestPairCorr
  0.81FQCTX Franklin Necticut TaxPairCorr
  0.9SAIFX Clearbridge Large CapPairCorr
  0.7SAGYX Clearbridge AggressivePairCorr
  0.84TEMZX Templeton EmergingPairCorr
  0.88FQCHX Franklin Templeton SmacsPairCorr
  0.86FQEMX Franklin Templeton SmacsPairCorr
  0.92TEQIX Franklin Mutual QuestPairCorr
  0.91TEPLX Templeton GrowthPairCorr
  0.86TWDAX Templeton WorldPairCorr
  0.94TESIX Franklin Mutual SharesPairCorr
  0.91TESGX Templeton Global SmallerPairCorr
  0.94TESRX Franklin Mutual SharesPairCorr
  0.66PFLRX Putnam Floating RatePairCorr
  0.91LGGAX Clearbridge InternationalPairCorr
  0.93TEURX Franklin Mutual EuropeanPairCorr
  0.92LGIEX Qs International EquityPairCorr
  0.86FQLAX Franklin Louisiana TaxPairCorr
  0.83TEWTX Templeton WorldPairCorr
  0.83SAPYX Clearbridge AppreciationPairCorr
  0.83SASMX Clearbridge Small CapPairCorr
  0.84FQNCX Franklin North CarolinaPairCorr

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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