| PNOPX Fund | | | USD 124.90 0.02 0.02% |
The current 90-days correlation between Putnam Multi Cap and Putnam Equity Income is 0.9 (i.e., Almost no diversification). The correlation of Putnam Multi 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 Multi Correlation With Market
Almost no diversification
The correlation between Putnam Multi Cap Growth and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Multi Cap Growth and DJI in the same portfolio, assuming nothing else is changed.
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Your Equity Center to better understand how to build diversified portfolios, which includes a position in Putnam Multi Cap Growth. 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 american community survey.