Putnam Small Correlations

Mutual Funds . USA . 
Fund . Putnam Small Cap
PLKGX Fund  USD 81.85  0.53  0.65%   
The current 90-days correlation between Putnam Small Cap and T Rowe Price is -0.18 (i.e., Good diversification). The correlation of Putnam Small 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 Small Correlation With Market

Very poor diversification

The correlation between Putnam Small Cap and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Small Cap 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 Small Cap. 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 price.

Moving together with Putnam Mutual Fund

  0.96PEYAX Putnam Equity IncomePairCorr
  0.72PEXTX Putnam Tax ExemptPairCorr
  0.97PFICX Putnam Floating RatePairCorr
  0.97PFJAX Putnam High YieldPairCorr
  0.98PFLRX Putnam Floating RatePairCorr
  0.98PFLLX Putnam Floating RatePairCorr
  0.98PFRYX Putnam Floating RatePairCorr
  0.97PFRZX Putnam Floating RatePairCorr
  0.68PXMAX Putnam Massachusetts TaxPairCorr
  0.74PXMNX Putnam Minnesota TaxPairCorr
  0.71PXOHX Putnam Ohio TaxPairCorr
  0.72PGBRX Putnam Global IncomePairCorr
  0.99PGEYX George PutnamPairCorr
  0.97PGFMX Putnam Global FinancialsPairCorr
  0.97PGEJX George Putnam BalancedPairCorr
  0.97PGEOX George PutnamPairCorr
  0.97PGELX George Putnam BalancedPairCorr
  0.96PGEMX George PutnamPairCorr
  0.74PGGYX Putnam Global IncmPairCorr
  0.73PGGDX Putnam Global IncomePairCorr
  0.73PGGEX Putnam Global IncomePairCorr
  0.7PGGLX Putnam Global IncmPairCorr
  0.74PGGIX Putnam Global IncomePairCorr
  0.97PGIAX Pnc Fds GrPairCorr
  0.99PGIEX Putnam Global IndustrialsPairCorr
  0.99PGIOX Putnam Global IndustrialsPairCorr
  0.99PGILX Putnam Global IndustrialsPairCorr
  0.96PGLEX Putnam Global EquityPairCorr
  0.96PGLRX Putnam Global EquityPairCorr
  0.99PGODX Putnam Growth OpportPairCorr
  0.99PGOEX Putnam Growth OpportPairCorr
  0.99PGPRX George PutnamPairCorr
  0.99PGORX Putnam Growth OpportPairCorr
  0.99PGOYX Putnam Growth OpportPairCorr
  0.97PGPCX George PutnamPairCorr
  0.71PGSIX 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 Small 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 Small'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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