Putman Absolute Correlations

Mutual Funds . USA . 
Fund . Putman Absolute Return
PYTRX Fund  USD 8.14  0.01  0.12%   
The current 90-days correlation between Putman Absolute Return and Rbc Global Equity is 0.17 (i.e., Average diversification). The correlation of Putman Absolute 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.

Putman Absolute Correlation With Market

Modest diversification

The correlation between Putman Absolute Return and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putman Absolute Return 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 Putman Absolute Return. 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 Putman Mutual Fund

  0.64PFICX Putnam Floating RatePairCorr
  0.72PFJAX Putnam High YieldPairCorr
  0.63PFLRX Putnam Floating RatePairCorr
  0.64PFLLX Putnam Floating RatePairCorr
  0.64PFRYX Putnam Floating RatePairCorr
  0.63PFRZX Putnam Floating RatePairCorr
  0.95PGBRX Putnam Global IncomePairCorr
  0.71PGEYX George PutnamPairCorr
  0.71PGEJX George Putnam BalancedPairCorr
  0.7PGEOX George PutnamPairCorr
  0.7PGELX George Putnam BalancedPairCorr
  0.71PGEMX George PutnamPairCorr
  0.94PGGYX Putnam Global IncmPairCorr
  0.95PGGDX Putnam Global IncomePairCorr
  0.95PGGEX Putnam Global IncomePairCorr
  0.94PGGLX Putnam Global IncmPairCorr
  0.86PGGIX Putnam Global IncomePairCorr
  0.67PGIAX Pnc Fds GrPairCorr
  0.67PGIEX Putnam Global IndustrialsPairCorr
  0.68PGIOX Putnam Global IndustrialsPairCorr
  0.68PGILX Putnam Global IndustrialsPairCorr
  0.71PGLEX Putnam Global EquityPairCorr
  0.71PGLRX Putnam Global EquityPairCorr
  0.66PGODX Putnam Growth OpportPairCorr
  0.65PGOEX Putnam Growth OpportPairCorr
  0.7PGPRX George PutnamPairCorr
  0.65PGORX Putnam Growth OpportPairCorr
  0.66PGOYX Putnam Growth OpportPairCorr
  0.7PGPCX George PutnamPairCorr
  0.9PGSIX Putnam U SPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Putman Mutual Fund performing well and Putman Absolute 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 Putman Absolute'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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