Putnam Focused Correlations

PVAL Etf

USD 39.77 0.05 0.13%

The current 90-days correlation between Putnam Focused Large and Principal Quality ETF is 0.77 (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

Almost no diversification

The correlation between Putnam Focused Large and DJI is 0.92 (i.e., Almost no 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

0.97	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.98	VYM	Vanguard High Dividend	Pair Corr
0.99	IWD	iShares Russell 1000	Pair Corr
0.96	DGRO	iShares Core Dividend Sell-off Trend	Pair Corr
0.97	IVE	iShares SP 500	Pair Corr
0.94	DVY	iShares Select Dividend	Pair Corr
0.97	SPYV	SPDR Portfolio SP	Pair Corr
0.91	FVD	First Trust Value	Pair Corr
0.98	IUSV	iShares Core SP	Pair Corr
0.74	NOBL	ProShares SP 500	Pair Corr
0.8	XOP	SPDR SP Oil	Pair Corr
0.94	IYC	iShares Consumer Dis	Pair Corr
0.98	VTI	Vanguard Total Stock	Pair Corr
0.97	VBK	Vanguard Small Cap	Pair Corr
0.72	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.8	HD	Home Depot Sell-off Trend	Pair Corr
0.83	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.92	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.91	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.91	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.85	WMT	Walmart Aggressive Push	Pair Corr
0.89	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.97	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.82	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Moving against Putnam Etf

0.63	AIVI	WisdomTree International	Pair Corr
0.55	WTRE	WisdomTree New Economy	Pair Corr
0.35	VPL	Vanguard FTSE Pacific	Pair Corr
0.78	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.74	KO	Coca Cola Sell-off Trend	Pair Corr
0.67	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	PSET	RNSC	RNMC	RNLC	RNDM
PSET		0.76	0.59	0.61	0.34	PSET
RNSC	0.76		0.62	0.73	0.15	RNSC
RNMC	0.59	0.62		0.69	0.32	RNMC
RNLC	0.61	0.73	0.69		-0.15	RNLC
RNDM	0.34	0.15	0.32	-0.15		RNDM
	PSET	RNSC	RNMC	RNLC	RNDM

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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

RNSC	+ 0.76	PSET
RNLC	+ 0.73	RNSC
RNLC	+ 0.69	RNMC
RNMC	+ 0.62	RNSC
RNLC	+ 0.61	PSET
RNMC	+ 0.59	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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PSET	0.70	(0.03)	(0.04)	0.09	0.92	(0.69)	1.36	(1.66)	4.79
RNSC	0.95	(0.05)	0.00	0.08	0.82	(1.14)	1.94	(1.44)	7.78
RNMC	0.78	0.13	0.02	2.15	0.73	(0.95)	1.65	(1.57)	4.52
RNLC	0.69	0.11	(0.02)	(6.68)	0.65	(0.78)	1.31	(1.11)	2.80
RNDM	0.51	0.05	(0.08)	0.91	0.52	(0.64)	1.19	(1.02)	2.74

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