Putnam Small Correlations

PNSCX Fund

USD 56.20 0.66 1.19%

The current 90-days correlation between Putnam Small Cap and Ambrus Core Bond is 0.29 (i.e., Modest diversification). The correlation of Putnam Small 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 Small Correlation With Market

Very weak diversification

The correlation between Putnam Small Cap and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Small Cap 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 Small Cap. 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

0.65	PEYAX	Putnam Equity Income	Pair Corr
0.63	PGEYX	George Putnam	Pair Corr
0.62	PGEJX	George Putnam Balanced	Pair Corr
0.63	PGEOX	George Putnam	Pair Corr
0.63	PGELX	George Putnam Balanced	Pair Corr
0.65	PGEMX	George Putnam	Pair Corr
0.71	PGIAX	Pnc Fds Gr	Pair Corr
0.71	PGIEX	Putnam Global Industrials	Pair Corr
0.71	PGIOX	Putnam Global Industrials	Pair Corr
0.71	PGILX	Putnam Global Industrials	Pair Corr
0.64	PGPRX	George Putnam	Pair Corr
0.66	PGPCX	George Putnam	Pair Corr

Moving against Putnam Mutual Fund

0.51	PFLRX	Putnam Floating Rate	Pair Corr
0.51	PFRZX	Putnam Floating Rate	Pair Corr
0.49	PFICX	Putnam Floating Rate	Pair Corr
0.49	PFLLX	Putnam Floating Rate	Pair Corr
0.49	PFRYX	Putnam Floating Rate	Pair Corr
0.35	PGLEX	Putnam Global Equity	Pair Corr
0.34	PGLRX	Putnam Global Equity	Pair Corr

Related Correlations Analysis

	TTRBX	RIBRX	TRZOX	PACEX	FZODX	ABNTX	RESAX
TTRBX		0.94	0.69	0.91	0.91	0.93	0.95	TTRBX
RIBRX	0.94		0.43	0.79	0.99	0.82	0.92	RIBRX
TRZOX	0.69	0.43		0.72	0.36	0.79	0.56	TRZOX
PACEX	0.91	0.79	0.72		0.77	0.9	0.9	PACEX
FZODX	0.91	0.99	0.36	0.77		0.79	0.91	FZODX
ABNTX	0.93	0.82	0.79	0.9	0.79		0.89	ABNTX
RESAX	0.95	0.92	0.56	0.9	0.91	0.89		RESAX
	TTRBX	RIBRX	TRZOX	PACEX	FZODX	ABNTX	RESAX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Small 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 Small'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
TTRBX	0.16	0.02	0.24	0.61	0.00	(0.21)	0.41	(0.30)	0.91
RIBRX	0.25	0.03	0.18	0.37	0.18	(0.34)	0.70	(0.36)	1.65
TRZOX	0.09	0.00	0.19	0.00	0.00	(0.25)	0.22	(0.22)	0.66
PACEX	0.12	0.02	0.26	(1.36)	0.00	(0.19)	0.33	(0.22)	0.99
FZODX	0.23	0.03	0.19	0.32	0.13	(0.32)	0.62	(0.41)	1.54
ABNTX	0.14	0.02	0.25	0.52	0.00	(0.19)	0.30	(0.30)	0.99
RESAX	0.21	0.03	0.17	0.46	0.15	(0.28)	0.49	(0.36)	1.60

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