Putnam Dynamic Correlations

Mutual Funds . USA . 
Fund . Putnam Dynamic Asset
PAEEX Fund  USD 21.57  0.06  0.28%   
The current 90-days correlation between Putnam Dynamic Asset and Investec Emerging Markets is 0.08 (i.e., Significant diversification). The correlation of Putnam Dynamic 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 Dynamic Correlation With Market

Good diversification

The correlation between Putnam Dynamic Asset and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Dynamic Asset 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 Dynamic Asset. 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 income.

Moving together with Putnam Mutual Fund

  0.99PFICX Putnam Floating RatePairCorr
  0.99PFJAX Putnam High YieldPairCorr
  0.99PFLLX Putnam Floating RatePairCorr
  0.99PFRYX Putnam Floating RatePairCorr
  0.99PFRZX Putnam Floating RatePairCorr
  0.65PXMNX Putnam Minnesota TaxPairCorr
  0.7PGBRX Putnam Global IncomePairCorr
  0.99PGEYX George PutnamPairCorr
  0.99PGFMX Putnam Global FinancialsPairCorr
  0.99PGEJX George Putnam BalancedPairCorr
  0.99PGEOX George PutnamPairCorr
  0.99PGELX George Putnam BalancedPairCorr
  0.99PGEMX George PutnamPairCorr
  0.72PGGYX Putnam Global IncmPairCorr
  0.72PGGDX Putnam Global IncomePairCorr
  0.72PGGEX Putnam Global IncomePairCorr
  0.65PGGLX Putnam Global IncmPairCorr
  0.7PGGIX Putnam Global IncomePairCorr
  1.0PGIAX Pnc Fds GrPairCorr
  1.0PGIEX Putnam Global IndustrialsPairCorr
  1.0PGIOX Putnam Global IndustrialsPairCorr
  1.0PGILX Putnam Global IndustrialsPairCorr
  0.97PGLEX Putnam Global EquityPairCorr
  0.97PGLRX Putnam Global EquityPairCorr
  1.0PGODX Putnam Growth OpportPairCorr
  1.0PGOEX Putnam Growth OpportPairCorr
  0.99PGPRX George PutnamPairCorr
  1.0PGORX Putnam Growth OpportPairCorr
  1.0PGOYX Putnam Growth OpportPairCorr
  0.99PGPCX George PutnamPairCorr
  0.69PGSIX Putnam U SPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Dynamic 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 Dynamic'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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