Putnam Research Correlations

Mutual Funds . USA . 
Fund . Putnam Research
PLJMX Fund  USD 57.70  0.36  0.62%   
The current 90-days correlation between Putnam Research and James Balanced Golden is 0.05 (i.e., Significant diversification). The correlation of Putnam Research 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 Research Correlation With Market

Very poor diversification

The correlation between Putnam Research and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Research 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 Research. 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 industry.

Moving together with Putnam Mutual Fund

  0.84PEXTX Putnam Tax ExemptPairCorr
  0.92PFJAX Putnam High YieldPairCorr
  0.82PFLLX Putnam Floating RatePairCorr
  0.8PFRZX Putnam Floating RatePairCorr
  0.97PGEYX George PutnamPairCorr
  0.94PGFMX Putnam Global FinancialsPairCorr
  1.0PGEJX George Putnam BalancedPairCorr
  1.0PGELX George Putnam BalancedPairCorr
  0.82PGGYX Putnam Global IncmPairCorr
  0.62PGHAX Putnam Global HealthPairCorr
  0.9PGLEX Putnam Global Equity Potential GrowthPairCorr
  0.9PGLRX Putnam Global EquityPairCorr
  0.84PGOEX Putnam Growth OpportPairCorr
  0.97PGPRX George PutnamPairCorr
  0.94PGTYX Putnam Global TechnologyPairCorr
  0.97PGWTX Putnam Focused EquityPairCorr
  0.91PYSCX Putnam Equity SpectrumPairCorr
  0.67PYTRX Putman Absolute ReturnPairCorr
  0.89PGP Pimco Global StocksplusPairCorr
  0.76PHSRX Putnam Global HealthPairCorr
  0.96PICRX Putnam InternationalPairCorr
  0.91PIGWX Putnam Intl ValuePairCorr
  0.91PMYZX Putnam Multicap CorePairCorr
  0.96PNORX Putnam Multi CapPairCorr
  0.94PNOTX Putnam Sustainable FuturePairCorr
  0.96POVYX Putnam InternationalPairCorr
  0.69PREKX Putnam RetirementreadyPairCorr
  0.63PRRTX Putnman Retirement ReadyPairCorr
  0.73PRRUX Putnam RetirementreadyPairCorr
  0.97PABYX Putnam Dynamic AssetPairCorr
  0.97PAAEX Putnam Dynamic AssetPairCorr
  0.97PAARX Putnam Dynamic AssetPairCorr
  0.89PACJX Putnam RetirementPairCorr
  0.95PACRX Putnam Dynamic AssetPairCorr
  0.93PAEKX Putnam RetirementPairCorr
  0.93PAHNX Putnam RetirementPairCorr
  0.92PAHJX Putnam RetirementPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Research 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 Research'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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