Putnam Asia Correlations

PAPAX Fund

USD 9.83 0.01 0.10%

The current 90-days correlation between Putnam Asia Pacific and Davis Financial Fund is 0.05 (i.e., Significant diversification). The correlation of Putnam Asia 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 Asia Correlation With Market

Good diversification

The correlation between Putnam Asia Pacific and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Asia Pacific 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 Asia Pacific. 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 nation.

Moving together with Putnam Mutual Fund

0.73	PPFAX	Princeton Premium	Pair Corr
0.88	PPFIX	Princeton Premium	Pair Corr
1.0	PAPIX	Princeton Adaptive	Pair Corr

Moving against Putnam Mutual Fund

0.34	CIOCX	Columbia Porate Income	Pair Corr
0.53	AGIVX	Invesco Government	Pair Corr
0.48	BURGX	Vest Large Cap Steady Growth	Pair Corr
0.32	ARTFX	Artisan High Income	Pair Corr
0.31	BCONX	Barrow Hanley Credit	Pair Corr
0.42	VIGAX	Vanguard Growth Index	Pair Corr
0.4	FSBDX	Fidelity Series Blue	Pair Corr
0.32	FDGRX	Fidelity Growth Pany	Pair Corr
0.32	CGTUX	Columbia Global Tech	Pair Corr

Related Correlations Analysis

	RPFGX	FIKBX	IAAEX	MSVIX	BTO	VFAIX
RPFGX		0.9	0.66	0.7	0.94	0.93	RPFGX
FIKBX	0.9		0.64	0.53	0.96	0.95	FIKBX
IAAEX	0.66	0.64		0.8	0.57	0.5	IAAEX
MSVIX	0.7	0.53	0.8		0.56	0.5	MSVIX
BTO	0.94	0.96	0.57	0.56		0.98	BTO
VFAIX	0.93	0.95	0.5	0.5	0.98		VFAIX
	RPFGX	FIKBX	IAAEX	MSVIX	BTO	VFAIX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RPFGX	0.81	0.05	0.01	0.50	1.11	(0.85)	1.33	(1.40)	10.37
FIKBX	0.85	0.08	0.03	(0.72)	1.02	(0.93)	1.88	(1.41)	11.23
IAAEX	0.69	(0.16)	0.00	(1.06)	0.00	0.00	1.03	(1.08)	11.37
MSVIX	0.84	(0.13)	0.00	(0.56)	0.00	0.00	1.64	(1.37)	15.10
BTO	1.03	0.12	0.06	0.64	1.28	(1.05)	2.03	(1.71)	13.54
VFAIX	0.77	0.14	0.09	2.22	0.87	(0.85)	1.77	(1.34)	10.75

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