Putnam Focused Correlations

Etfs . USA . 
Etf . Putnam Focused Large
PVAL Etf  USD 39.10  0.36  0.93%   
The current 90-days correlation between Putnam Focused Large and Principal Quality ETF is 0.7 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Putnam Focused moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Putnam Focused Large moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Putnam Focused Correlation With Market

Very weak diversification

The correlation between Putnam Focused Large and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Focused Large 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 Focused Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Putnam Etf

  0.99VTV Vanguard Value IndexPairCorr
  0.92VYM Vanguard High DividendPairCorr
  1.0IWD iShares Russell 1000PairCorr
  0.98DGRO iShares Core DividendPairCorr
  0.95IVE iShares SP 500PairCorr
  0.94DVY iShares Select DividendPairCorr
  0.95SPYV SPDR Portfolio SPPairCorr
  0.9FVD First Trust ValuePairCorr
  0.96IUSV iShares Core SPPairCorr
  0.85NOBL ProShares SP 500 Low VolatilityPairCorr
  0.79SHLD Global X FundsPairCorr
  0.82HUM Humana IncPairCorr
  0.86SWP SWP Growth IncomePairCorr
  0.75DUKH Ocean Park HighPairCorr
  0.66SMI VanEck Vectors ETFPairCorr
  0.82TRV The Travelers CompaniesPairCorr
  0.88CAT Caterpillar Earnings Call This WeekPairCorr
  0.83HD Home DepotPairCorr
  0.64XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.81CVX Chevron Corp Earnings Call TodayPairCorr
  0.62DD Dupont De Nemours Earnings Call This WeekPairCorr

Moving against Putnam Etf

  0.49BA BoeingPairCorr
  0.37PFE Pfizer Inc Earnings Call This WeekPairCorr

Related Correlations Analysis

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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   
RNLC
+ 0.79
RNSC
RNLC
+ 0.69
RNMC
RNMC
+ 0.66
RNSC
RNDM
+ 0.46
PSET
RNSC
+ 0.41
PSET
RNMC
+ 0.38
PSET
  
High negative correlations   
RNDM
- 0.15
RNLC

Putnam Focused Constituents Risk-Adjusted Indicators

There is a big difference between Putnam Etf performing well and Putnam Focused ETF 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 Focused'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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