Putnam Floating Correlations

PFLLX Fund

USD 7.76 0.01 0.13%

The current 90-days correlation between Putnam Floating Rate and Alger Health Sciences is 0.07 (i.e., Significant diversification). The correlation of Putnam Floating 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 Floating Correlation With Market

Very poor diversification

The correlation between Putnam Floating Rate and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Floating Rate 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 Floating Rate. 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 board of governors.

Moving together with Putnam Mutual Fund

0.63	PEXTX	Putnam Tax Exempt	Pair Corr
0.86	PFJAX	Putnam High Yield	Pair Corr
0.99	PFRYX	Putnam Floating Rate	Pair Corr
0.98	PFRZX	Putnam Floating Rate	Pair Corr
0.8	PGEYX	George Putnam	Pair Corr
0.77	PGFMX	Putnam Global Financials	Pair Corr
0.81	PGEJX	George Putnam Balanced	Pair Corr
0.81	PGELX	George Putnam Balanced	Pair Corr
0.81	PGEMX	George Putnam	Pair Corr
0.81	PGIOX	Putnam Global Industrials	Pair Corr
0.81	PGILX	Putnam Global Industrials	Pair Corr
0.79	PGLEX	Putnam Global Equity	Pair Corr
0.79	PGLRX	Putnam Global Equity	Pair Corr
0.67	PGOEX	Putnam Growth Opport	Pair Corr
0.8	PGPRX	George Putnam	Pair Corr
0.7	PGORX	Putnam Growth Opport	Pair Corr
0.79	PGTYX	Putnam Global Technology	Pair Corr
0.81	PGWTX	Putnam Focused Equity	Pair Corr
0.73	PGVRX	Putnam U S	Pair Corr
0.76	PYSCX	Putnam Equity Spectrum	Pair Corr
0.85	PYSVX	Putnam Small Cap	Pair Corr
0.85	PHAYX	Putnam High Yield	Pair Corr
0.82	PGP	Pimco Global Stocksplus	Pair Corr
0.65	PHSRX	Putnam Global Health	Pair Corr
0.63	PHSYX	Putnam Global Health	Pair Corr
0.88	PHYMX	Putnam High Yield	Pair Corr
0.86	PHYUX	Putnam High Yield	Pair Corr
0.79	PICOX	Putnam International	Pair Corr
0.79	PICRX	Putnam International	Pair Corr
0.79	PIERX	Putnam International	Pair Corr
0.77	PIGWX	Putnam Intl Value	Pair Corr

Related Correlations Analysis

	PRHSX	PHLAX	RYHCX	SBHIX	DLHAX	VGHCX	AHSCX
PRHSX		0.89	0.91	0.89	0.85	0.82	0.77	PRHSX
PHLAX	0.89		0.91	0.89	0.83	0.78	0.76	PHLAX
RYHCX	0.91	0.91		0.93	0.87	0.9	0.88	RYHCX
SBHIX	0.89	0.89	0.93		0.85	0.87	0.85	SBHIX
DLHAX	0.85	0.83	0.87	0.85		0.82	0.81	DLHAX
VGHCX	0.82	0.78	0.9	0.87	0.82		0.95	VGHCX
AHSCX	0.77	0.76	0.88	0.85	0.81	0.95		AHSCX
	PRHSX	PHLAX	RYHCX	SBHIX	DLHAX	VGHCX	AHSCX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Floating 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 Floating'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
PRHSX	1.01	0.23	0.21	0.50	0.56	(1.28)	1.96	(1.49)	16.41
PHLAX	1.15	0.36	0.28	(16.55)	0.61	(1.56)	2.17	(1.52)	21.23
RYHCX	0.71	0.12	0.05	(5.81)	0.54	(0.97)	2.09	(1.04)	4.49
SBHIX	0.69	0.18	0.14	1.18	0.48	(0.83)	1.69	(1.16)	4.28
DLHAX	0.97	0.30	0.27	1.71	0.52	(1.27)	2.18	(1.46)	10.20
VGHCX	0.71	0.08	0.06	0.22	0.62	(0.87)	1.94	(1.29)	4.26
AHSCX	0.86	0.11	0.07	0.31	0.80	(1.08)	2.11	(1.53)	5.46

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Putnam Floating Correlations

Putnam Floating Correlation With Market

Very poor diversification

Moving together with Putnam Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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