Putnam Focused Correlations

PGWTX Fund

USD 34.39 0.59 1.75%

The current 90-days correlation between Putnam Focused Equity and T Rowe Price is 0.45 (i.e., Very weak diversification). The correlation of Putnam Focused 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 Focused Correlation With Market

Poor diversification

The correlation between Putnam Focused Equity and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Focused Equity 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 Equity. 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 estimate.

Moving together with Putnam Mutual Fund

0.61	PEYAX	Putnam Equity Income	Pair Corr
0.99	PGEYX	George Putnam	Pair Corr
0.99	PGEJX	George Putnam Balanced	Pair Corr
0.99	PGEOX	George Putnam	Pair Corr
0.99	PGELX	George Putnam Balanced	Pair Corr
0.99	PGEMX	George Putnam	Pair Corr
1.0	PGIAX	Pnc Fds Gr	Pair Corr
1.0	PGIEX	Putnam Global Industrials	Pair Corr
1.0	PGIOX	Putnam Global Industrials	Pair Corr
1.0	PGILX	Putnam Global Industrials	Pair Corr
0.96	PGODX	Putnam Growth Opport	Pair Corr
0.96	PGOEX	Putnam Growth Opport	Pair Corr
0.99	PGPRX	George Putnam	Pair Corr
0.95	PGORX	Putnam Growth Opport	Pair Corr
0.96	PGOYX	Putnam Growth Opport	Pair Corr
0.99	PGPCX	George Putnam	Pair Corr

Moving against Putnam Mutual Fund

0.38	PGBRX	Putnam Global Income	Pair Corr
0.38	PGGYX	Putnam Global Incm	Pair Corr
0.38	PGGDX	Putnam Global Income	Pair Corr
0.38	PGGEX	Putnam Global Income	Pair Corr
0.37	PGGIX	Putnam Global Income	Pair Corr
0.35	PGLEX	Putnam Global Equity	Pair Corr
0.35	PGLRX	Putnam Global Equity	Pair Corr
0.31	PGGLX	Putnam Global Incm	Pair Corr
0.43	PYSTX	Putnam Short Term	Pair Corr
0.4	PGSIX	Putnam U S	Pair Corr

Related Correlations Analysis

	PAREX	FREEX	FIKMX	FORFX	NMMRF	REINX	TRREX
PAREX		0.62	0.89	0.7	0.41	0.99	1.0	PAREX
FREEX	0.62		0.44	0.14	0.15	0.66	0.62	FREEX
FIKMX	0.89	0.44		0.92	0.71	0.83	0.89	FIKMX
FORFX	0.7	0.14	0.92		0.73	0.61	0.7	FORFX
NMMRF	0.41	0.15	0.71	0.73		0.35	0.42	NMMRF
REINX	0.99	0.66	0.83	0.61	0.35		0.99	REINX
TRREX	1.0	0.62	0.89	0.7	0.42	0.99		TRREX
	PAREX	FREEX	FIKMX	FORFX	NMMRF	REINX	TRREX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Focused 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 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
PAREX	0.93	0.01	0.00	(0.02)	0.00	0.00	1.65	(1.81)	4.47
FREEX	1.01	(0.12)	0.00	(0.24)	0.00	0.00	1.62	(2.46)	7.05
FIKMX	0.26	0.02	0.13	0.10	0.30	(0.29)	0.59	(0.49)	1.36
FORFX	0.05	0.02	0.00	4.30	0.00	0.00	0.11	0.00	0.32
NMMRF	0.07	0.03	0.00	0.41	0.00	0.00	0.00	0.00	2.35
REINX	0.91	0.00	0.00	(0.04)	0.00	0.00	1.61	(1.78)	4.62
TRREX	0.94	0.01	0.00	(0.02)	0.00	0.00	1.63	(1.89)	4.40

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