Putnam Floating Correlations

PFICX Fund

USD 7.98 0.01 0.13%

The current 90-days correlation between Putnam Floating Rate and Rbc Ultra Short Fixed is 0.76 (i.e., Poor diversification). The correlation of Putnam Floating 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 Floating Correlation With Market

Good diversification

The correlation between Putnam Floating Rate and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Floating Rate 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 Floating Rate. 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 main economic indicators.

Moving together with Putnam Mutual Fund

0.74	PFJAX	Putnam High Yield	Pair Corr
0.99	PFLRX	Putnam Floating Rate	Pair Corr
0.99	PFLLX	Putnam Floating Rate	Pair Corr
0.98	PFRYX	Putnam Floating Rate	Pair Corr
0.98	PFRZX	Putnam Floating Rate	Pair Corr

Moving against Putnam Mutual Fund

0.54	PEYAX	Putnam Equity Income	Pair Corr
0.43	PGEYX	George Putnam	Pair Corr
0.42	PGEJX	George Putnam Balanced	Pair Corr
0.67	PGIEX	Putnam Global Industrials	Pair Corr
0.65	PGIOX	Putnam Global Industrials	Pair Corr
0.64	PGIAX	Pnc Fds Gr	Pair Corr
0.63	PGILX	Putnam Global Industrials	Pair Corr
0.47	PGEMX	George Putnam	Pair Corr
0.44	PGEOX	George Putnam	Pair Corr
0.44	PGHAX	Putnam Global Health	Pair Corr
0.43	PGELX	George Putnam Balanced	Pair Corr
0.64	PGTDX	Putnam Global Technology	Pair Corr
0.63	PGTRX	Putnam Global Technology	Pair Corr
0.63	PGWTX	Putnam Focused Equity	Pair Corr
0.62	PGTAX	Putnam Global Technology	Pair Corr
0.61	PGTYX	Putnam Global Technology	Pair Corr
0.57	PYSVX	Putnam Small Cap	Pair Corr

Related Correlations Analysis

	RULFX	PRVBX	ANBIX	AAEZX	DLTNX	VBIPX
RULFX		0.69	0.56	0.41	0.13	0.8	RULFX
PRVBX	0.69		0.9	0.87	0.69	0.89	PRVBX
ANBIX	0.56	0.9		0.94	0.8	0.85	ANBIX
AAEZX	0.41	0.87	0.94		0.89	0.79	AAEZX
DLTNX	0.13	0.69	0.8	0.89		0.68	DLTNX
VBIPX	0.8	0.89	0.85	0.79	0.68		VBIPX
	RULFX	PRVBX	ANBIX	AAEZX	DLTNX	VBIPX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Floating 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 Floating'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
RULFX	0.05	0.01	0.07	(0.91)	0.00	(0.19)	0.10	(0.10)	0.60
PRVBX	0.10	0.00	(0.03)	(0.04)	0.06	(0.13)	0.25	(0.19)	0.58
ANBIX	0.14	0.01	0.02	0.10	0.11	(0.19)	0.30	(0.29)	0.98
AAEZX	0.23	0.01	0.02	0.04	0.27	(0.28)	0.61	(0.40)	1.90
DLTNX	0.21	0.00	0.00	0.01	0.21	(0.29)	0.58	(0.47)	1.50
VBIPX	0.10	0.00	0.02	0.17	0.00	(0.16)	0.30	(0.20)	0.69

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