Putnam Multicap Correlations

PMYZX Fund

USD 49.08 0.23 0.47%

The current 90-days correlation between Putnam Multicap Core and Lord Abbett Diversified is 0.89 (i.e., Very poor diversification). The correlation of Putnam Multicap 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 Multicap Correlation With Market

Almost no diversification

The correlation between Putnam Multicap Core and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Multicap Core 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 Multicap Core. 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

0.73	PEXTX	Putnam Tax Exempt	Pair Corr
0.91	PFJAX	Putnam High Yield	Pair Corr
0.81	PFLLX	Putnam Floating Rate	Pair Corr
0.82	PFRYX	Putnam Floating Rate	Pair Corr
0.83	PFRZX	Putnam Floating Rate	Pair Corr
0.79	PGBRX	Putnam Global Income	Pair Corr
0.94	PGEYX	George Putnam	Pair Corr
0.87	PGFMX	Putnam Global Financials	Pair Corr
0.91	PGEJX	George Putnam Balanced	Pair Corr
0.91	PGELX	George Putnam Balanced	Pair Corr
0.91	PGEMX	George Putnam	Pair Corr
0.83	PGGYX	Putnam Global Incm	Pair Corr
0.62	PGHAX	Putnam Global Health	Pair Corr
0.83	PGGDX	Putnam Global Income	Pair Corr
0.84	PGGEX	Putnam Global Income	Pair Corr
0.96	PGIOX	Putnam Global Industrials	Pair Corr
0.96	PGILX	Putnam Global Industrials	Pair Corr
0.89	PGLEX	Putnam Global Equity	Pair Corr
0.89	PGLRX	Putnam Global Equity	Pair Corr
0.89	PGOEX	Putnam Growth Opport	Pair Corr
0.94	PGPRX	George Putnam	Pair Corr
0.9	PGORX	Putnam Growth Opport	Pair Corr
0.89	PGTRX	Putnam Global Technology	Pair Corr
0.89	PGTYX	Putnam Global Technology	Pair Corr
0.96	PGWTX	Putnam Focused Equity	Pair Corr
0.85	PGVRX	Putnam U S	Pair Corr
0.87	PYSCX	Putnam Equity Spectrum	Pair Corr
0.94	PYSVX	Putnam Small Cap	Pair Corr
0.83	PYSTX	Putnam Short Term	Pair Corr
0.63	PYTRX	Putman Absolute Return	Pair Corr
0.93	PHAYX	Putnam High Yield	Pair Corr
0.91	PGP	Pimco Global Stocksplus	Pair Corr
0.88	PHPDX	Putnam Retirement	Pair Corr
0.73	PHSRX	Putnam Global Health	Pair Corr
0.71	PHSYX	Putnam Global Health	Pair Corr
0.91	PHYMX	Putnam High Yield	Pair Corr
0.91	PHYUX	Putnam High Yield	Pair Corr

Related Correlations Analysis

	LBWAX	MDSKX	ADX	RTOUX	PHJEX	JDJAX	LIGFX
LBWAX		0.85	0.65	0.84	0.88	-0.04	0.84	LBWAX
MDSKX	0.85		0.68	0.99	0.94	0.13	0.96	MDSKX
ADX	0.65	0.68		0.68	0.83	0.27	0.79	ADX
RTOUX	0.84	0.99	0.68		0.92	0.1	0.95	RTOUX
PHJEX	0.88	0.94	0.83	0.92		0.19	0.98	PHJEX
JDJAX	-0.04	0.13	0.27	0.1	0.19		0.18	JDJAX
LIGFX	0.84	0.96	0.79	0.95	0.98	0.18		LIGFX
	LBWAX	MDSKX	ADX	RTOUX	PHJEX	JDJAX	LIGFX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RTOUX	+ 0.99	MDSKX
LIGFX	+ 0.98	PHJEX
LIGFX	+ 0.96	MDSKX
LIGFX	+ 0.95	RTOUX
PHJEX	+ 0.94	MDSKX
PHJEX	+ 0.92	RTOUX

High negative correlations

JDJAX

- 0.04

LBWAX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Multicap 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 Multicap'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
LBWAX	0.75	0.29	0.40	(5.77)	0.00	(1.01)	1.28	(1.12)	14.62
MDSKX	0.92	0.06	0.05	0.10	1.05	(0.96)	1.92	(1.82)	4.61
ADX	0.65	0.05	0.03	0.13	0.70	(0.69)	1.44	(1.22)	3.14
RTOUX	0.76	0.05	0.06	0.09	0.80	(0.80)	1.92	(1.43)	4.39
PHJEX	0.44	0.05	0.05	0.13	0.45	(0.50)	0.98	(0.88)	4.35
JDJAX	0.35	(0.01)	0.00	(0.51)	0.00	0.00	0.94	(0.60)	2.25
LIGFX	0.24	0.00	(0.09)	0.05	0.28	(0.25)	0.53	(0.51)	1.45

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