Putnam U Correlations

Mutual Funds . USA . 
Fund . Putnam U S
PGVCX Fund  USD 7.60  0.01  0.13%   
The current 90-days correlation between Putnam U S and Metropolitan West Total is 0.87 (i.e., Very poor diversification). The correlation of Putnam U 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 U Correlation With Market

Modest diversification

The correlation between Putnam U S and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam U S 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 U S. 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 main economic indicators.

Moving together with PUTNAM Mutual Fund

  0.82PEXTX Putnam Tax ExemptPairCorr
  0.67PFJAX Putnam High YieldPairCorr
  0.78PXMAX Putnam Massachusetts TaxPairCorr
  0.78PXMNX Putnam Minnesota TaxPairCorr
  0.73PXOHX Putnam Ohio TaxPairCorr
  0.8PGBRX Putnam Global IncomePairCorr
  0.79PGFMX Putnam Global FinancialsPairCorr
  0.81PGGYX Putnam Global IncmPairCorr
  0.83PGGDX Putnam Global IncomePairCorr
  0.82PGGEX Putnam Global IncomePairCorr
  0.77PGGLX Putnam Global IncmPairCorr
  0.81PGGIX Putnam Global IncomePairCorr
  0.61PGLEX Putnam Global EquityPairCorr
  0.61PGLRX Putnam Global EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between PUTNAM Mutual Fund performing well and Putnam U 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 U'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MWTNX  0.26 (0.02) 0.00 (0.16) 0.00 
 0.00 
 0.67 
(0.67)
 1.80 
MWTSX  0.28 (0.02) 0.00 (0.15) 0.00 
 0.00 
 0.83 
(0.73)
 1.92 
PTTPX  0.26 (0.02)(0.28)(0.08) 0.31 
(0.32)
 0.82 
(0.59)
 1.77 
PTRRX  0.26 (0.02) 0.00 (0.10) 0.00 
 0.00 
 0.70 
(0.59)
 1.77 
PTRAX  0.26 (0.02)(0.28)(0.08) 0.31 
(0.32)
 0.70 
(0.59)
 1.77 
PTTRX  0.26 (0.02)(0.29)(0.08) 0.30 
(0.31)
 0.70 
(0.59)
 1.77 
FIWGX  0.25 (0.01)(0.26)(0.07) 0.30 
(0.33)
 0.56 
(0.66)
 1.67 
DODIX  0.25 (0.02) 0.00 (0.63) 0.00 
 0.00 
 0.65 
(0.57)
 1.68 
MWTIX  0.28 (0.02) 0.00 (0.14) 0.00 
 0.00 
 0.67 
(0.68)
 1.80 
MWTRX  0.28 (0.03) 0.00 (0.16) 0.00 
 0.00 
 0.78 
(0.68)
 1.91 

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