Putman Absolute Correlations

PTRKX Fund

USD 8.45 0.02 0.24%

The current 90-days correlation between Putman Absolute Return and Arrow Managed Futures is 0.1 (i.e., Average diversification). The correlation of Putman Absolute 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.

Putman Absolute Correlation With Market

Very weak diversification

The correlation between Putman Absolute Return and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putman Absolute Return 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 Putman Absolute Return. 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 Putman Mutual Fund

0.87	PEXTX	Putnam Tax Exempt	Pair Corr
0.91	PGBRX	Putnam Global Income	Pair Corr
0.8	PGFMX	Putnam Global Financials	Pair Corr
0.9	PGGYX	Putnam Global Incm	Pair Corr
0.8	PGHAX	Putnam Global Health	Pair Corr
0.9	PGGDX	Putnam Global Income	Pair Corr
0.9	PGGEX	Putnam Global Income	Pair Corr
0.7	PGLEX	Putnam Global Equity	Pair Corr
0.7	PGLRX	Putnam Global Equity	Pair Corr
0.89	PGVRX	Putnam U S	Pair Corr
0.76	PYSCX	Putnam Equity Spectrum	Pair Corr
0.62	PYSVX	Putnam Small Cap	Pair Corr
0.79	PYSTX	Putnam Short Term	Pair Corr
0.99	PYTRX	Putman Absolute Return	Pair Corr
0.63	PHAYX	Putnam High Yield	Pair Corr
0.67	PGP	Pimco Global Stocksplus	Pair Corr
0.8	PHSRX	Putnam Global Health	Pair Corr
0.8	PHSYX	Putnam Global Health	Pair Corr
0.62	PHYUX	Putnam High Yield	Pair Corr

Moving against Putman Mutual Fund

0.47	PFRYX	Putnam Floating Rate	Pair Corr
0.44	PFLLX	Putnam Floating Rate	Pair Corr
0.44	PFRZX	Putnam Floating Rate	Pair Corr
0.65	PGODX	Putnam Growth Opport	Pair Corr
0.65	PGOEX	Putnam Growth Opport	Pair Corr
0.65	PGORX	Putnam Growth Opport	Pair Corr
0.65	PGOYX	Putnam Growth Opport	Pair Corr

Related Correlations Analysis

	ABPYX	SMQFX	SPMIX	QLMETX	ABNTX	EMSLX	MFTFX
ABPYX		-0.41	-0.26	-0.2	-0.51	-0.31	-0.42	ABPYX
SMQFX	-0.41		0.85	-0.19	0.68	0.85	0.94	SMQFX
SPMIX	-0.26	0.85		-0.17	0.7	0.96	0.92	SPMIX
QLMETX	-0.2	-0.19	-0.17		0.34	-0.15	-0.05	QLMETX
ABNTX	-0.51	0.68	0.7	0.34		0.75	0.81	ABNTX
EMSLX	-0.31	0.85	0.96	-0.15	0.75		0.93	EMSLX
MFTFX	-0.42	0.94	0.92	-0.05	0.81	0.93		MFTFX
	ABPYX	SMQFX	SPMIX	QLMETX	ABNTX	EMSLX	MFTFX

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

EMSLX	+ 0.96	SPMIX
MFTFX	+ 0.94	SMQFX
MFTFX	+ 0.93	EMSLX
MFTFX	+ 0.92	SPMIX
SPMIX	+ 0.85	SMQFX
EMSLX	+ 0.85	SMQFX

High negative correlations

ABNTX	- 0.51	ABPYX
MFTFX	- 0.42	ABPYX
SMQFX	- 0.41	ABPYX
EMSLX	- 0.31	ABPYX
SPMIX	- 0.26	ABPYX
QLMETX	- 0.2	ABPYX

Risk-Adjusted Indicators

There is a big difference between Putman Mutual Fund performing well and Putman Absolute 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 Putman Absolute'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
ABPYX	0.37	(0.04)	(0.14)	0.01	0.50	(0.37)	0.70	(0.78)	2.36
SMQFX	1.23	0.76	1.11	1.35	0.00	(1.66)	1.60	(0.82)	35.01
SPMIX	0.75	0.17	0.22	0.24	0.38	(0.89)	1.81	(1.32)	7.28
QLMETX	0.63	(0.09)	0.00	(0.11)	0.00	0.00	0.88	(1.08)	12.76
ABNTX	0.08	0.01	(0.53)	(0.78)	0.00	(0.11)	0.19	(0.19)	0.39
EMSLX	0.92	0.54	0.55	1.08	0.00	(1.09)	2.05	(1.11)	19.48
MFTFX	0.98	0.28	0.19	0.42	0.94	(1.08)	2.03	(1.94)	6.29

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