Putnam Floating Correlations

PFRYX Fund

USD 7.90 0.01 0.13%

The current 90-days correlation between Putnam Floating Rate and Avantis Large Cap is 0.29 (i.e., Modest 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

Modest diversification

The correlation between Putnam Floating Rate and DJI is 0.28 (i.e., Modest 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 manufacturing.

Moving together with Putnam Mutual Fund

0.9	PFICX	Putnam Floating Rate	Pair Corr
0.64	PFJAX	Putnam High Yield	Pair Corr
0.98	PFLRX	Putnam Floating Rate	Pair Corr
0.99	PFLLX	Putnam Floating Rate	Pair Corr
0.89	PFRZX	Putnam Floating Rate	Pair Corr

Related Correlations Analysis

	ALCEX	PAVLX	CMIFX	ANVIX	FCLKX	FMIQX	GMLVX	PCLVX
ALCEX		0.56	-0.48	0.91	0.89	0.79	-0.04	0.36	ALCEX
PAVLX	0.56		0.33	0.72	0.56	0.85	0.51	0.96	PAVLX
CMIFX	-0.48	0.33		-0.3	-0.43	-0.06	0.51	0.49	CMIFX
ANVIX	0.91	0.72	-0.3		0.87	0.94	0.04	0.56	ANVIX
FCLKX	0.89	0.56	-0.43	0.87		0.79	0.06	0.37	FCLKX
FMIQX	0.79	0.85	-0.06	0.94	0.79		0.28	0.74	FMIQX
GMLVX	-0.04	0.51	0.51	0.04	0.06	0.28		0.59	GMLVX
PCLVX	0.36	0.96	0.49	0.56	0.37	0.74	0.59		PCLVX
	ALCEX	PAVLX	CMIFX	ANVIX	FCLKX	FMIQX	GMLVX	PCLVX

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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

PCLVX	+ 0.96	PAVLX
FMIQX	+ 0.94	ANVIX
ANVIX	+ 0.91	ALCEX
FCLKX	+ 0.89	ALCEX
FCLKX	+ 0.87	ANVIX
FMIQX	+ 0.85	PAVLX

High negative correlations

CMIFX	- 0.48	ALCEX
FCLKX	- 0.43	CMIFX
ANVIX	- 0.3	CMIFX
FMIQX	- 0.06	CMIFX
GMLVX	- 0.04	ALCEX

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
ALCEX	0.67	(0.04)	0.00	(0.09)	0.00	0.00	1.09	(1.85)	3.41
PAVLX	0.60	0.06	0.14	1.19	0.58	(0.72)	1.30	(1.01)	3.20
CMIFX	0.07	0.01	0.37	10.07	0.00	(0.12)	0.10	(0.10)	0.41
ANVIX	0.65	(0.02)	0.00	0.67	0.00	0.00	1.14	(1.18)	3.29
FCLKX	0.83	0.00	0.00	(0.04)	0.00	0.00	1.58	(2.15)	5.00
FMIQX	0.68	(0.01)	0.03	0.34	0.79	(0.72)	1.20	(1.24)	3.07
GMLVX	0.71	0.03	0.05	0.05	0.92	(0.76)	1.57	(1.62)	5.51
PCLVX	0.58	0.07	0.15	(2.98)	0.58	(0.67)	1.24	(1.16)	3.17

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