Putnam Dynamic Correlations

Mutual Funds . USA . 
Fund . Putnam Dynamic Asset
PACRX Fund  USD 11.72  0.02  0.17%   
The current 90-days correlation between Putnam Dynamic Asset and Alliancebernstein National Municipal is 0.17 (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 inflation.

Moving together with Putnam Mutual Fund

  0.83PEXTX Putnam Tax ExemptPairCorr
  0.94PFJAX Putnam High YieldPairCorr
  0.85PFLLX Putnam Floating RatePairCorr
  0.84PFRYX Putnam Floating RatePairCorr
  0.85PFRZX Putnam Floating RatePairCorr
  0.85PGBRX Putnam Global IncomePairCorr
  0.98PGEYX George PutnamPairCorr
  0.92PGFMX Putnam Global FinancialsPairCorr
  0.95PGEJX George Putnam BalancedPairCorr
  0.95PGELX George Putnam BalancedPairCorr
  0.98PGEMX George PutnamPairCorr
  0.88PGGYX Putnam Global IncmPairCorr
  0.69PGHAX Putnam Global HealthPairCorr
  0.88PGGDX Putnam Global IncomePairCorr
  0.85PGGEX Putnam Global IncomePairCorr
  0.98PGIOX Putnam Global IndustrialsPairCorr
  0.99PGILX Putnam Global IndustrialsPairCorr
  0.93PGLEX Putnam Global Equity Potential GrowthPairCorr
  0.93PGLRX Putnam Global EquityPairCorr
  0.87PGOEX Putnam Growth OpportPairCorr
  0.98PGPRX George PutnamPairCorr
  0.89PGORX Putnam Growth OpportPairCorr
  0.93PGTRX Putnam Global TechnologyPairCorr
  0.92PGTYX Putnam Global TechnologyPairCorr
  0.98PGWTX Putnam Focused EquityPairCorr
  0.91PGVRX Putnam U SPairCorr
  0.93PYSCX Putnam Equity SpectrumPairCorr
  0.96PYSVX Putnam Small CapPairCorr
  0.87PYSTX Putnam Short TermPairCorr
  0.77PYTRX Putman Absolute ReturnPairCorr
  0.93PHAYX Putnam High YieldPairCorr
  0.93PGP Pimco Global StocksplusPairCorr
  0.92PHPDX Putnam RetirementPairCorr
  0.8PHSRX Putnam Global HealthPairCorr
  0.79PHSYX Putnam Global HealthPairCorr
  0.94PHYMX Putnam High YieldPairCorr
  0.93PHYUX Putnam High YieldPairCorr

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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