Putnam Diversified Correlations
| PDVYX Fund | USD 4.85 0.01 0.21% |
The correlation of Putnam Diversified 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 Diversified Correlation With Market
Significant diversification
The correlation between Putnam Diversified Income and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Diversified Income and DJI in the same portfolio, assuming nothing else is changed.
Putnam |
Moving together with Putnam Mutual Fund
| 0.66 | PEYAX | Putnam Equity Income | PairCorr |
| 0.63 | PEXTX | Putnam Tax Exempt | PairCorr |
| 0.87 | PFJAX | Putnam High Yield | PairCorr |
| 0.62 | PXMAX | Putnam Massachusetts Tax | PairCorr |
| 0.78 | PGBRX | Putnam Global Income | PairCorr |
| 0.84 | PGFMX | Putnam Global Financials | PairCorr |
| 0.76 | PGGYX | Putnam Global Incm | PairCorr |
| 0.77 | PGHAX | Putnam Global Health | PairCorr |
| 0.81 | PGGDX | Putnam Global Income | PairCorr |
| 0.78 | PGGEX | Putnam Global Income | PairCorr |
| 0.78 | PGGLX | Putnam Global Incm | PairCorr |
| 0.78 | PGGIX | Putnam Global Income | PairCorr |
| 0.72 | PGLEX | Putnam Global Equity | PairCorr |
| 0.71 | PGLRX | Putnam Global Equity | PairCorr |
| 0.67 | PGPRX | George Putnam | PairCorr |
| 0.61 | PGPCX | George Putnam | PairCorr |
Moving against Putnam Mutual Fund
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | GUDAX | ||
| 0.0 | 0.45 | 0.88 | 0.88 | 0.8 | USCAX | ||
| 0.0 | 0.45 | 0.57 | 0.28 | 0.4 | DLTZX | ||
| 0.0 | 0.88 | 0.57 | 0.82 | 0.83 | LIGFX | ||
| 0.0 | 0.88 | 0.28 | 0.82 | 0.77 | TRHBX | ||
| 0.0 | 0.8 | 0.4 | 0.83 | 0.77 | FARIX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Putnam Mutual Fund performing well and Putnam Diversified 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 Diversified'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GUDAX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| USCAX | 0.93 | (0.09) | 0.00 | (0.19) | 0.00 | 1.75 | 10.97 | |||
| DLTZX | 0.07 | (0.02) | 0.00 | 2.84 | 0.00 | 0.13 | 0.64 | |||
| LIGFX | 0.28 | (0.03) | 0.00 | (0.20) | 0.00 | 0.50 | 2.03 | |||
| TRHBX | 0.99 | (0.04) | 0.00 | (0.10) | 0.00 | 1.83 | 11.74 | |||
| FARIX | 0.27 | (0.02) | 0.00 | (0.29) | 0.00 | 0.53 | 2.12 |