Putnam Floating Correlations

Mutual Funds . USA . 
Fund . Putnam Floating Rate
PFLRX Fund  USD 7.96  0.01  0.13%   
The current 90-days correlation between Putnam Floating Rate and Franklin Equity Income is 0.45 (i.e., Very weak diversification). The correlation of Putnam Floating 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 Floating Correlation With Market

Good diversification

The correlation between Putnam Floating Rate 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 Floating Rate 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 Floating Rate. 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 metropolitan statistical area.

Moving together with Putnam Mutual Fund

  0.98PEYAX Putnam Equity IncomePairCorr
  0.65PFICX Putnam Floating RatePairCorr
  0.67PFJAX Putnam High YieldPairCorr
  0.65PFLLX Putnam Floating RatePairCorr
  0.65PFRYX Putnam Floating RatePairCorr
  0.65PFRZX Putnam Floating RatePairCorr
  0.72PGEYX George PutnamPairCorr
  0.98PGFMX Putnam Global FinancialsPairCorr
  0.73PGEJX George Putnam BalancedPairCorr
  0.98PGEOX George PutnamPairCorr
  0.98PGELX George Putnam BalancedPairCorr
  0.73PGEMX George PutnamPairCorr
  0.73PGGYX Putnam Global IncmPairCorr
  0.72PGGEX Putnam Global IncomePairCorr
  0.65PGIAX Pnc Fds GrPairCorr
  0.65PGIEX Putnam Global IndustrialsPairCorr
  0.65PGIOX Putnam Global IndustrialsPairCorr
  0.73PGILX Putnam Global IndustrialsPairCorr
  0.72PGLEX Putnam Global EquityPairCorr
  0.7PGLRX Putnam Global EquityPairCorr
  0.64PGODX Putnam Growth OpportPairCorr
  0.64PGOEX Putnam Growth OpportPairCorr
  0.98PGPRX George PutnamPairCorr
  0.64PGORX Putnam Growth OpportPairCorr
  0.98PGOYX Putnam Growth OpportPairCorr
  0.65PGPCX George PutnamPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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