Putnam Dynamic Correlations

Mutual Funds . USA . 
Fund . Putnam Dynamic Asset
PASRX Fund  USD 21.35  0.36  1.72%   
The current 90-days correlation between Putnam Dynamic Asset and Heartland Value Plus is 0.46 (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

Almost no diversification

The correlation between Putnam Dynamic Asset and DJI is 0.9 (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

  0.84PEXTX Putnam Tax ExemptPairCorr
  0.94PFJAX Putnam High YieldPairCorr
  0.83PFLLX Putnam Floating RatePairCorr
  0.82PFRYX Putnam Floating RatePairCorr
  0.82PFRZX Putnam Floating RatePairCorr
  0.81PGBRX Putnam Global IncomePairCorr
  1.0PGEYX George PutnamPairCorr
  0.95PGFMX Putnam Global FinancialsPairCorr
  1.0PGEJX George Putnam BalancedPairCorr
  1.0PGELX George Putnam BalancedPairCorr
  0.99PGEMX George PutnamPairCorr
  0.85PGGYX Putnam Global IncmPairCorr
  0.66PGHAX Putnam Global HealthPairCorr
  0.85PGGDX Putnam Global IncomePairCorr
  0.85PGGEX Putnam Global IncomePairCorr
  0.99PGIOX Putnam Global IndustrialsPairCorr
  0.99PGILX Putnam Global IndustrialsPairCorr
  0.93PGLEX Putnam Global EquityPairCorr
  0.93PGLRX Putnam Global EquityPairCorr
  0.85PGOEX Putnam Growth OpportPairCorr
  0.99PGPRX George PutnamPairCorr
  0.89PGORX Putnam Growth OpportPairCorr
  0.96PGTRX Putnam Global TechnologyPairCorr
  0.96PGTYX Putnam Global TechnologyPairCorr
  0.99PGWTX Putnam Focused EquityPairCorr
  0.88PGVRX Putnam U SPairCorr
  0.92PYSCX Putnam Equity SpectrumPairCorr
  0.95PYSVX Putnam Small CapPairCorr
  0.87PYSTX Putnam Short TermPairCorr
  0.7PYTRX Putman Absolute ReturnPairCorr
  0.93PHAYX Putnam High YieldPairCorr
  0.92PGP Pimco Global StocksplusPairCorr
  0.94PHPDX Putnam RetirementPairCorr
  0.8PHSRX Putnam Global HealthPairCorr
  0.78PHSYX Putnam Global HealthPairCorr
  0.94PHYMX Putnam High YieldPairCorr
  0.94PHYUX 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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