Putnam Dynamic Correlations

PAGYX Fund

USD 22.40 0.05 0.22%

The current 90-days correlation between Putnam Dynamic Asset and Old Westbury Short Term is 0.08 (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

Significant diversification

The correlation between Putnam Dynamic Asset and DJI is 0.06 (i.e., Significant 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 manufacturing.

Moving together with Putnam Mutual Fund

0.83	FFIFX	American Funds	Pair Corr
0.83	FAIFX	American Funds	Pair Corr
0.93	IFACX	Income Fund	Pair Corr
0.83	IFAFX	Income Fund	Pair Corr
0.94	AMECX	Income Fund	Pair Corr
0.93	RIDBX	Income Fund	Pair Corr
0.93	CIMEX	Income Fund	Pair Corr
0.94	RIDFX	Income Fund	Pair Corr
0.93	CIMCX	Income Fund	Pair Corr
0.94	CIMFX	Income Fund	Pair Corr
0.81	ASG	Liberty All Star	Pair Corr
0.8	CII	Blackrock Enhanced	Pair Corr
0.74	ETV	Eaton Vance Tax	Pair Corr
0.65	CLM	Cornerstone Strategic	Pair Corr
0.65	CRF	Cornerstone Strategic	Pair Corr
0.94	USA	Liberty All Star	Pair Corr
0.77	ETY	Eaton Vance Tax	Pair Corr
0.67	NFJ	Virtus Dividend Interest	Pair Corr
0.65	GAB	Gabelli Equity Trust	Pair Corr
0.89	TEGYX	Mid Cap Growth	Pair Corr
0.74	FSRBX	Banking Portfolio Banking	Pair Corr
0.92	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.94	PRDSX	T Rowe Price	Pair Corr
0.64	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.63	WMT	Walmart Aggressive Push	Pair Corr
0.61	DIS	Walt Disney Aggressive Push	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.76	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Putnam Mutual Fund

0.58	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.54	KO	Coca Cola Aggressive Push	Pair Corr
0.45	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.44	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.32	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	OWSBX	GTLSX	SUSAX	VSGBX	ASTIX	RSDIX	RUSIX	ASCLX
OWSBX		-0.38	0.0	0.92	-0.3	0.81	-0.17	-0.32	OWSBX
GTLSX	-0.38		0.62	-0.52	0.81	-0.13	0.68	0.8	GTLSX
SUSAX	0.0	0.62		-0.2	0.72	0.34	0.95	0.73	SUSAX
VSGBX	0.92	-0.52	-0.2		-0.56	0.75	-0.39	-0.58	VSGBX
ASTIX	-0.3	0.81	0.72	-0.56		-0.11	0.79	0.96	ASTIX
RSDIX	0.81	-0.13	0.34	0.75	-0.11		0.23	-0.1	RSDIX
RUSIX	-0.17	0.68	0.95	-0.39	0.79	0.23		0.81	RUSIX
ASCLX	-0.32	0.8	0.73	-0.58	0.96	-0.1	0.81		ASCLX
	OWSBX	GTLSX	SUSAX	VSGBX	ASTIX	RSDIX	RUSIX	ASCLX

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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

ASCLX	+ 0.96	ASTIX
RUSIX	+ 0.95	SUSAX
VSGBX	+ 0.92	OWSBX
RSDIX	+ 0.81	OWSBX
ASTIX	+ 0.81	GTLSX
ASCLX	+ 0.81	RUSIX

High negative correlations

ASCLX	- 0.58	VSGBX
ASTIX	- 0.56	VSGBX
VSGBX	- 0.52	GTLSX
RUSIX	- 0.39	VSGBX
GTLSX	- 0.38	OWSBX
ASCLX	- 0.32	OWSBX

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
OWSBX	0.08	0.00	(0.96)	0.21	0.05	(0.12)	0.20	(0.10)	0.49
GTLSX	0.31	0.01	(0.17)	0.15	0.22	(0.36)	0.71	(0.50)	2.57
SUSAX	0.06	0.01	(1.07)	(0.62)	0.00	(0.15)	0.10	(0.10)	0.51
VSGBX	0.10	0.00	(0.80)	0.19	0.11	(0.14)	0.20	(0.20)	0.78
ASTIX	0.28	0.05	(0.17)	1.68	0.26	(0.32)	0.57	(0.64)	1.79
RSDIX	0.08	0.00	(0.88)	(2.05)	0.03	(0.16)	0.21	(0.10)	0.72
RUSIX	0.04	0.01	0.00	(1.06)	0.00	0.00	0.10	0.00	0.50
ASCLX	0.36	0.00	(0.09)	0.12	0.36	(0.40)	0.77	(0.93)	2.91

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