Putnam Focused Correlations

PVAL Etf

USD 49.06 0.10 0.20%

The current 90-days correlation between Putnam Focused Large and Goldman Sachs ActiveBeta is 0.83 (i.e., Very 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 0.94 (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.

Build AI portfolio with Putnam Etf

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

0.99	VTV	Vanguard Value Index	Pair Corr
0.97	VYM	Vanguard High Dividend	Pair Corr
0.98	IWD	iShares Russell 1000	Pair Corr
0.98	DGRO	iShares Core Dividend	Pair Corr
0.98	IVE	iShares SP 500	Pair Corr
0.98	SPYV	SPDR Portfolio SP	Pair Corr
0.98	IUSV	iShares Core SP	Pair Corr
0.95	NOBL	ProShares SP 500 Low Volatility	Pair Corr
0.98	FNDX	Schwab Fundamental Large	Pair Corr
0.98	VLUE	iShares MSCI USA Low Volatility	Pair Corr
0.83	TOT	Advisor Managed Port	Pair Corr
0.77	SHLD	Global X Defense	Pair Corr
0.71	LUX	Tema Global	Pair Corr
0.91	FB	ProShares Trust ProShares	Pair Corr
0.92	SWP	SWP Growth Income	Pair Corr
0.77	FNGD	MicroSectors FANG Index Downward Rally	Pair Corr
0.89	CALY	Callaway Golf Symbol Change	Pair Corr
0.83	VBK	Vanguard Small Cap	Pair Corr
0.9	RDIV	Invesco SP Ultra	Pair Corr
0.96	AHYB	American Century ETF	Pair Corr
0.97	BINC	BlackRock ETF Trust	Pair Corr
0.87	JNJ	Johnson Johnson	Pair Corr
0.91	MRK	Merck Company Aggressive Push	Pair Corr
0.94	DD	Dupont De Nemours Earnings Call Today	Pair Corr
0.92	AA	Alcoa Corp	Pair Corr
0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.78	CVX	Chevron Corp	Pair Corr
0.74	INTC	Intel Aggressive Push	Pair Corr
0.84	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Putnam Etf

0.8	HPQ	HP Inc	Pair Corr
0.36	MMM	3M Company	Pair Corr

Related Correlations Analysis

	SCHK	FELG	IVOO	JAVA	DIHP	VIOO	BKLC	OMFL	EEMV	GSIE
SCHK		0.34	0.86	0.84	0.82	0.85	1.0	0.97	0.69	0.84	SCHK
FELG	0.34		-0.15	-0.21	-0.24	-0.17	0.41	0.11	-0.29	-0.18	FELG
IVOO	0.86	-0.15		0.98	0.95	0.99	0.82	0.95	0.82	0.95	IVOO
JAVA	0.84	-0.21	0.98		0.98	0.97	0.8	0.94	0.85	0.98	JAVA
DIHP	0.82	-0.24	0.95	0.98		0.93	0.77	0.92	0.92	0.99	DIHP
VIOO	0.85	-0.17	0.99	0.97	0.93		0.8	0.93	0.8	0.94	VIOO
BKLC	1.0	0.41	0.82	0.8	0.77	0.8		0.94	0.65	0.8	BKLC
OMFL	0.97	0.11	0.95	0.94	0.92	0.93	0.94		0.79	0.93	OMFL
EEMV	0.69	-0.29	0.82	0.85	0.92	0.8	0.65	0.79		0.88	EEMV
GSIE	0.84	-0.18	0.95	0.98	0.99	0.94	0.8	0.93	0.88		GSIE
	SCHK	FELG	IVOO	JAVA	DIHP	VIOO	BKLC	OMFL	EEMV	GSIE

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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

BKLC	+ 1.0	SCHK
VIOO	+ 0.99	IVOO
GSIE	+ 0.99	DIHP
JAVA	+ 0.98	IVOO
DIHP	+ 0.98	JAVA
GSIE	+ 0.98	JAVA

High negative correlations

EEMV	- 0.29	FELG
DIHP	- 0.24	FELG
JAVA	- 0.21	FELG
GSIE	- 0.18	FELG
VIOO	- 0.17	FELG
IVOO	- 0.15	FELG

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
SCHK	0.60	(0.05)	(0.08)	0.02	0.81	(0.61)	1.13	(1.27)	3.56
FELG	0.74	(0.16)	0.00	(0.12)	0.00	0.00	1.46	(1.92)	4.77
IVOO	0.74	0.07	0.08	0.15	0.64	(0.81)	1.86	(1.37)	3.77
JAVA	0.61	0.09	0.11	0.18	0.48	(0.66)	1.51	(1.14)	3.06
DIHP	0.60	0.09	0.09	0.21	0.55	(0.63)	1.18	(1.08)	2.88
VIOO	0.87	0.08	0.10	0.15	0.77	(1.04)	2.51	(1.77)	4.93
BKLC	0.59	(0.06)	(0.08)	0.01	0.87	(0.54)	1.13	(1.36)	3.61
OMFL	0.67	0.00	(0.01)	0.08	0.85	(0.68)	1.45	(1.51)	3.48
EEMV	0.43	0.04	(0.02)	0.17	0.40	(0.43)	1.02	(0.80)	2.36
GSIE	0.61	0.08	0.07	0.19	0.65	(0.61)	1.26	(1.29)	2.97

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