Putnam Ultra Correlations

PSDNX Fund

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The current 90-days correlation between Putnam Ultra Short and Transamerica Mlp Energy is 0.17 (i.e., Average diversification). The correlation of Putnam Ultra 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 Ultra Correlation With Market

Good diversification

The correlation between Putnam Ultra Short and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Ultra Short 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 Ultra Short. 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 board of governors.

Moving together with Putnam Mutual Fund

0.97

PFRYX

Putnam Floating Rate

Pair Corr

Moving against Putnam Mutual Fund

0.74	PGIEX	Putnam Global Industrials	Pair Corr
0.72	PGIAX	Pnc Fds Gr	Pair Corr
0.66	PEYAX	Putnam Equity Income	Pair Corr
0.65	PGHAX	Putnam Global Health	Pair Corr
0.58	PGEYX	George Putnam	Pair Corr
0.58	PGEOX	George Putnam	Pair Corr
0.58	PGELX	George Putnam Balanced	Pair Corr
0.57	PGIOX	Putnam Global Industrials	Pair Corr
0.56	PGEMX	George Putnam	Pair Corr
0.56	PGILX	Putnam Global Industrials	Pair Corr
0.54	PGEJX	George Putnam Balanced	Pair Corr
0.31	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.66	PGTAX	Putnam Global Technology	Pair Corr
0.66	PHSYX	Putnam Global Health	Pair Corr
0.65	PGTYX	Putnam Global Technology	Pair Corr
0.6	PGPRX	George Putnam	Pair Corr
0.56	PGPCX	George Putnam	Pair Corr
0.56	PGWTX	Putnam Focused Equity	Pair Corr
0.55	PGTRX	Putnam Global Technology	Pair Corr
0.52	PGVRX	Putnam U S	Pair Corr
0.42	PHSTX	Putnam Global Health	Pair Corr
0.35	PIERX	Putnam International	Pair Corr

Related Correlations Analysis

	TMCLX	IGNAX	HNRGX	FRNRX	AIWEX	RYVAX	ALEFX
TMCLX		0.5	0.88	0.54	0.91	0.67	0.92	TMCLX
IGNAX	0.5		0.74	0.96	0.67	0.85	0.71	IGNAX
HNRGX	0.88	0.74		0.82	0.92	0.91	0.93	HNRGX
FRNRX	0.54	0.96	0.82		0.72	0.92	0.77	FRNRX
AIWEX	0.91	0.67	0.92	0.72		0.84	0.91	AIWEX
RYVAX	0.67	0.85	0.91	0.92	0.84		0.82	RYVAX
ALEFX	0.92	0.71	0.93	0.77	0.91	0.82		ALEFX
	TMCLX	IGNAX	HNRGX	FRNRX	AIWEX	RYVAX	ALEFX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Ultra 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 Ultra'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
TMCLX	0.97	0.19	0.09	0.75	1.26	(1.05)	1.88	(2.31)	6.77
IGNAX	0.86	(0.05)	0.00	(0.05)	0.00	0.00	1.44	(1.53)	5.36
HNRGX	0.88	0.07	0.02	0.31	1.15	(0.88)	1.57	(1.85)	7.42
FRNRX	0.81	(0.06)	0.00	(0.08)	0.00	0.00	1.23	(1.70)	5.23
AIWEX	1.08	0.08	0.02	0.23	1.75	(1.13)	1.90	(1.79)	11.65
RYVAX	1.29	0.03	0.00	0.15	1.53	(1.41)	2.34	(2.70)	13.02
ALEFX	1.00	0.13	0.05	0.46	1.57	(1.00)	1.96	(2.44)	6.68

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