Putnam Ultra Correlations

Mutual Funds . USA . 
Fund . Putnam Ultra Short
PSDNX Fund  USD 10.12  0.01  0.1%   
The current 90-days correlation between Putnam Ultra Short and Franklin Federal Limited Term is -0.06 (i.e., Good diversification). The correlation of Putnam Ultra 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 Ultra Correlation With Market

Good diversification

The correlation between Putnam Ultra Short and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Ultra Short 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 Ultra Short. 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 board of governors.

Moving together with Putnam Mutual Fund

  0.79PNOYX Putnam Multi CapPairCorr
  0.78PNORX Putnam Multi CapPairCorr
  0.66PNOTX Putnam Sustainable FuturePairCorr
  0.92PNSAX Putnam Small CapPairCorr
  0.91PNSCX Putnam Small CapPairCorr
  0.8PABYX Putnam Dynamic AssetPairCorr
  0.92PAKJX Putnam RetirementPairCorr
  0.8PALZX Putnam RetirementPairCorr
  0.99PSDRX Putnam Short DurationPairCorr
  1.0PSDYX Putnam Short DurationPairCorr
  0.98PTSPX Pimco Short TermPairCorr
  0.98PTSHX Short Term FundPairCorr
  0.97PTSRX Short Term FundPairCorr
  0.99LUSNX Lord Abbett UltraPairCorr
  0.61VUBFX Vanguard Ultra ShortPairCorr
  0.63XWDIX Western Asset DiversifiedPairCorr
  0.92FTDBX FtdbxPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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