Putnam Floating Correlations

Mutual Funds . USA . 
Fund . Putnam Floating Rate
PFRZX Fund  USD 7.76  0.01  0.13%   
The current 90-days correlation between Putnam Floating Rate and Vy Clarion Real is -0.05 (i.e., Good 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 0.88 (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 nation.

Moving together with Putnam Mutual Fund

  0.64PEXTX Putnam Tax ExemptPairCorr
  0.9PFJAX Putnam High YieldPairCorr
  0.99PFLLX Putnam Floating RatePairCorr
  1.0PFRYX Putnam Floating RatePairCorr
  0.62PGBRX Putnam Global IncomePairCorr
  0.8PGEYX George PutnamPairCorr
  0.79PGFMX Putnam Global FinancialsPairCorr
  0.8PGEJX George Putnam BalancedPairCorr
  0.8PGELX George Putnam BalancedPairCorr
  0.8PGEMX George PutnamPairCorr
  0.65PGGYX Putnam Global IncmPairCorr
  0.65PGGDX Putnam Global IncomePairCorr
  0.66PGGEX Putnam Global IncomePairCorr
  0.81PGIOX Putnam Global IndustrialsPairCorr
  0.82PGILX Putnam Global IndustrialsPairCorr
  0.8PGLEX Putnam Global EquityPairCorr
  0.8PGLRX Putnam Global EquityPairCorr
  0.67PGOEX Putnam Growth OpportPairCorr
  0.8PGPRX George PutnamPairCorr
  0.69PGORX Putnam Growth OpportPairCorr
  0.75PGTYX Putnam Global TechnologyPairCorr
  0.82PGWTX Putnam Focused EquityPairCorr
  0.77PGVRX Putnam U SPairCorr
  0.79PYSCX Putnam Equity SpectrumPairCorr
  0.87PYSVX Putnam Small CapPairCorr
  0.89PHAYX Putnam High YieldPairCorr
  0.88PGP Pimco Global StocksplusPairCorr
  0.67PHSRX Putnam Global HealthPairCorr
  0.66PHSYX Putnam Global HealthPairCorr
  0.9PHYMX Putnam High YieldPairCorr
  0.88PHYUX Putnam High YieldPairCorr
  0.81PICOX Putnam InternationalPairCorr
  0.81PICRX Putnam InternationalPairCorr
  0.79PIERX Putnam InternationalPairCorr
  0.81PIGWX Putnam Intl ValuePairCorr

Related Correlations Analysis


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.

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