Putnam Asia Correlations

PAPAX Fund

USD 9.85 0.01 0.10%

The current 90-days correlation between Putnam Asia Pacific and Materials Portfolio Fidelity is -0.15 (i.e., Good diversification). The correlation of Putnam Asia 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 Asia Correlation With Market

Poor diversification

The correlation between Putnam Asia Pacific and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Asia Pacific 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 Asia Pacific. 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

1.0	PPFAX	Princeton Premium	Pair Corr
1.0	PPFIX	Princeton Premium	Pair Corr
0.97	PAPIX	Princeton Adaptive	Pair Corr
0.77	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.78	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.78	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.71	GTENX	Gateway Fund Class	Pair Corr
0.69	GTECX	Gateway Fund Class	Pair Corr
0.71	GTEYX	Gateway Fund Class	Pair Corr
0.71	GATEX	Gateway Fund Class	Pair Corr
0.7	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.73	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.72	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.75	FTYPX	Fidelity Freedom Index	Pair Corr
0.76	FFBTX	Fidelity Freedom Blend	Pair Corr
0.78	GAAVX	Gmo Alternative Allo	Pair Corr
0.86	GCAVX	Gmo Small Cap	Pair Corr
0.89	GQLOX	Gmo Quality Fund	Pair Corr
0.83	GHVIX	Gmo High Yield	Pair Corr
0.95	GMCQX	Gmo Equity Allocation	Pair Corr
0.68	SWBRX	Schwab Target 2010	Pair Corr
0.8	HFMDX	Hennessy Nerstone Mid	Pair Corr
0.75	RHFTX	American Funds 2035	Pair Corr
0.91	GSMGX	Goldman Sachs Smallmid	Pair Corr
0.74	LEZAX	Blackrock Lifepath Esg	Pair Corr
0.84	DQICX	Dreyfus Equity Income	Pair Corr
0.69	VFINX	Vanguard 500 Index	Pair Corr
0.8	NSIDX	Northern Small Cap	Pair Corr
0.73	POAAX	Pacific Funds Portfolio	Pair Corr
0.83	RAFAX	Amcap Fund Class	Pair Corr
0.92	WVALX	Value Fund Value	Pair Corr

Moving against Putnam Mutual Fund

0.56

GABFX

Gmo Asset Allocation

Pair Corr

Related Correlations Analysis

	OPTCX	FANISX	FABWX	CPUCX	FKORQX	IAADX	FIJFX
OPTCX		-0.56	0.94	0.68	-0.72	0.86	0.88	OPTCX
FANISX	-0.56		-0.49	0.11	0.43	-0.46	-0.44	FANISX
FABWX	0.94	-0.49		0.77	-0.84	0.95	0.96	FABWX
CPUCX	0.68	0.11	0.77		-0.64	0.77	0.79	CPUCX
FKORQX	-0.72	0.43	-0.84	-0.64		-0.87	-0.89	FKORQX
IAADX	0.86	-0.46	0.95	0.77	-0.87		0.98	IAADX
FIJFX	0.88	-0.44	0.96	0.79	-0.89	0.98		FIJFX
	OPTCX	FANISX	FABWX	CPUCX	FKORQX	IAADX	FIJFX

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

FIJFX	+ 0.98	IAADX
FIJFX	+ 0.96	FABWX
IAADX	+ 0.95	FABWX
FABWX	+ 0.94	OPTCX
FIJFX	+ 0.88	OPTCX
IAADX	+ 0.86	OPTCX

High negative correlations

FIJFX	- 0.89	FKORQX
IAADX	- 0.87	FKORQX
FKORQX	- 0.84	FABWX
FKORQX	- 0.72	OPTCX
FKORQX	- 0.64	CPUCX
FANISX	- 0.56	OPTCX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Asia 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 Asia'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
OPTCX	0.13	0.00	(0.24)	0.05	0.05	(0.19)	0.30	(0.30)	0.80
FANISX	0.21	0.00	(0.22)	0.01	0.25	(0.21)	0.38	(0.41)	1.05
FABWX	0.65	0.06	0.05	0.14	0.74	(0.68)	1.22	(1.48)	3.91
CPUCX	0.14	0.01	(0.21)	0.33	0.00	(0.19)	0.32	(0.32)	0.75
FKORQX	0.06	(0.04)	0.00	1.93	0.00	0.00	0.03	(0.02)	2.22
IAADX	0.15	0.06	0.05	0.66	0.00	(0.21)	0.42	(0.21)	1.03
FIJFX	0.98	0.26	0.20	0.30	0.94	(1.06)	2.11	(1.75)	5.59

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