Putnam Floating Correlations

PFLLX Fund

USD 7.68 0.01 0.13%

The current 90-days correlation between Putnam Floating Rate and George Putnam Balanced is 0.01 (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

Modest diversification

The correlation between Putnam Floating Rate and DJI is 0.22 (i.e., Modest 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

0.9	PFRYX	Putnam Floating Rate	Pair Corr
0.98	PFRZX	Putnam Floating Rate	Pair Corr

Moving against Putnam Mutual Fund

0.49	PGBRX	Putnam Global Income	Pair Corr
0.45	PGGYX	Putnam Global Incm	Pair Corr
0.45	PGGDX	Putnam Global Income	Pair Corr
0.45	PGGEX	Putnam Global Income	Pair Corr
0.37	PEXTX	Putnam Tax Exempt	Pair Corr
0.53	PYTRX	Putman Absolute Return	Pair Corr
0.32	PGVRX	Putnam U S	Pair Corr
0.57	PIFRX	Putnam Income	Pair Corr
0.5	PINFX	Invesco Multi Asset	Pair Corr
0.49	PINHX	Putnam Income Fd	Pair Corr
0.37	PLFGX	Putnam Retirement	Pair Corr

Related Correlations Analysis

	PEXTX	PFJAX	PGBRX	PGEYX	PGFMX	PGEJX	PGELX
PEXTX		0.87	0.89	0.69	0.96	0.7	0.7	PEXTX
PFJAX	0.87		0.82	0.82	0.94	0.88	0.88	PFJAX
PGBRX	0.89	0.82		0.68	0.9	0.62	0.62	PGBRX
PGEYX	0.69	0.82	0.68		0.76	0.79	0.79	PGEYX
PGFMX	0.96	0.94	0.9	0.76		0.81	0.81	PGFMX
PGEJX	0.7	0.88	0.62	0.79	0.81		1.0	PGEJX
PGELX	0.7	0.88	0.62	0.79	0.81	1.0		PGELX
	PEXTX	PFJAX	PGBRX	PGEYX	PGFMX	PGEJX	PGELX

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
PEXTX	0.14	0.02	(0.05)	0.69	0.08	(0.17)	0.26	(0.38)	0.90
PFJAX	0.10	0.01	(0.08)	0.14	0.00	(0.20)	0.19	(0.19)	0.56
PGBRX	0.13	0.00	(0.16)	0.36	0.07	(0.16)	0.30	(0.20)	0.79
PGEYX	0.32	(0.01)	(0.05)	0.02	0.42	(0.36)	0.63	(0.82)	2.09
PGFMX	0.29	0.09	0.12	(1.20)	0.06	(0.34)	0.56	(0.54)	2.83
PGEJX	0.46	0.12	0.17	(2.75)	0.21	(0.63)	0.68	(0.83)	8.87
PGELX	0.45	0.12	0.17	(2.38)	0.22	(0.59)	0.67	(0.82)	8.79

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