Putnam Focused Correlations

PGRO Etf

USD 39.20 0.28 0.72%

The current 90-days correlation between Putnam Focused Large and Vanguard Growth Index is 0.98 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Putnam Focused moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Putnam Focused Large moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Putnam Focused Correlation With Market

Very weak diversification

The correlation between Putnam Focused Large and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Focused Large 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 Focused Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Putnam Etf

0.99	VUG	Vanguard Growth Index	Pair Corr
1.0	IWF	iShares Russell 1000	Pair Corr
1.0	IVW	iShares SP 500	Pair Corr
1.0	SPYG	SPDR Portfolio SP	Pair Corr
0.99	IUSG	iShares Core SP	Pair Corr
1.0	VONG	Vanguard Russell 1000	Pair Corr
1.0	MGK	Vanguard Mega Cap	Pair Corr
1.0	VRGWX	Vanguard Russell 1000	Pair Corr
0.99	QQQM	Invesco NASDAQ 100	Pair Corr
1.0	IWY	iShares Russell Top	Pair Corr
0.89	SIXD	AIM ETF Products	Pair Corr
0.9	TSJA	TSJA	Pair Corr
0.9	DSJA	DSJA	Pair Corr
0.9	TSLP	Kurv Yield Premium	Pair Corr
0.96	XLY	Consumer Discretionary	Pair Corr
0.93	SOFR	SOFR Symbol Change	Pair Corr
0.94	LOUP	Innovator Loup Frontier	Pair Corr
0.93	ETHE	Grayscale Ethereum Trust	Pair Corr
0.91	SCHB	Schwab Broad Market	Pair Corr
0.74	PDBA	Invesco Agriculture	Pair Corr
0.96	FELG	Fidelity Covington Trust	Pair Corr
0.91	AAA	Listed Funds Trust	Pair Corr
0.9	NUMG	Nuveen ESG Mid	Pair Corr
0.93	TRFK	Pacer Funds Trust	Pair Corr
0.94	CIBR	First Trust NASDAQ	Pair Corr
0.95	ARKQ	ARK Autonomous Technology	Pair Corr
0.86	CPAI	Northern Lights	Pair Corr
0.9	VSLU	ETF Opportunities Trust	Pair Corr
0.7	TBX	ProShares Short 7	Pair Corr
0.91	NERD	Roundhill Video Games	Pair Corr
0.94	AMZU	Direxion Daily AMZN	Pair Corr
0.93	DAT	ProShares Big Data	Pair Corr

Moving against Putnam Etf

0.89	VIIX	VIIX	Pair Corr
0.79	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.65	YCL	ProShares Ultra Yen	Pair Corr
0.61	FXY	Invesco CurrencyShares	Pair Corr
0.86	ULE	ProShares Ultra Euro	Pair Corr
0.35	MCHI	iShares MSCI China	Pair Corr

Related Correlations Analysis

	VUG	IWF	IVW	SPYG	IUSG	VONG	MGK	VRGWX	QQQM	IWY
VUG		1.0	1.0	1.0	1.0	1.0	1.0	1.0	0.99	0.99	VUG
IWF	1.0		1.0	1.0	1.0	1.0	1.0	1.0	0.99	1.0	IWF
IVW	1.0	1.0		1.0	1.0	1.0	1.0	1.0	1.0	1.0	IVW
SPYG	1.0	1.0	1.0		1.0	1.0	1.0	1.0	1.0	1.0	SPYG
IUSG	1.0	1.0	1.0	1.0		1.0	1.0	1.0	0.99	0.99	IUSG
VONG	1.0	1.0	1.0	1.0	1.0		1.0	1.0	0.99	1.0	VONG
MGK	1.0	1.0	1.0	1.0	1.0	1.0		1.0	0.99	1.0	MGK
VRGWX	1.0	1.0	1.0	1.0	1.0	1.0	1.0		0.99	1.0	VRGWX
QQQM	0.99	0.99	1.0	1.0	0.99	0.99	0.99	0.99		0.99	QQQM
IWY	0.99	1.0	1.0	1.0	0.99	1.0	1.0	1.0	0.99		IWY
	VUG	IWF	IVW	SPYG	IUSG	VONG	MGK	VRGWX	QQQM	IWY

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Putnam Focused Constituents Risk-Adjusted Indicators

There is a big difference between Putnam Etf performing well and Putnam Focused ETF 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 Focused'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
VUG	0.67	0.11	0.09	0.17	0.96	(0.66)	1.64	(1.45)	5.83
IWF	0.67	0.11	0.09	0.16	0.94	(0.64)	1.62	(1.52)	5.97
IVW	0.66	0.10	0.08	0.15	0.97	(0.64)	1.55	(1.58)	5.79
SPYG	0.66	0.10	0.08	0.15	1.02	(0.64)	1.51	(1.51)	5.93
IUSG	0.66	0.09	0.07	0.14	1.04	(0.63)	1.45	(1.55)	6.03
VONG	0.66	0.11	0.08	0.16	0.95	(0.62)	1.61	(1.53)	5.89
MGK	0.69	0.11	0.08	0.16	0.98	(0.65)	1.65	(1.61)	5.68
VRGWX	0.67	0.11	0.09	0.16	0.96	(0.65)	1.65	(1.54)	5.99
QQQM	0.72	0.09	0.07	0.12	1.06	(0.72)	1.50	(1.51)	6.31
IWY	0.69	0.11	0.08	0.16	0.96	(0.65)	1.72	(1.64)	5.79

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