Putnam Massachusetts Correlations

PMATX Fund

USD 8.92 0.01 0.11%

The current 90-days correlation between Putnam Massachusetts Tax and Morningstar Defensive Bond is 0.35 (i.e., Weak diversification). The correlation of Putnam Massachusetts 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 Massachusetts Correlation With Market

Average diversification

The correlation between Putnam Massachusetts Tax and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Massachusetts Tax 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 Massachusetts Tax. 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

0.98	PEXTX	Putnam Tax Exempt	Pair Corr
0.68	PFJAX	Putnam High Yield	Pair Corr
0.99	PXMAX	Putnam Massachusetts Tax	Pair Corr
0.98	PXMNX	Putnam Minnesota Tax	Pair Corr
0.99	PXOHX	Putnam Ohio Tax	Pair Corr
0.66	PGBRX	Putnam Global Income	Pair Corr
0.64	PGFMX	Putnam Global Financials	Pair Corr
0.65	PGGYX	Putnam Global Incm	Pair Corr
0.63	PGHAX	Putnam Global Health	Pair Corr
0.66	PGGDX	Putnam Global Income	Pair Corr
0.65	PGGEX	Putnam Global Income	Pair Corr
0.68	PGGLX	Putnam Global Incm	Pair Corr
0.66	PGGIX	Putnam Global Income	Pair Corr

Related Correlations Analysis

	MSTBX	DLTNX	ANAGX	ARTFX	BMOPX
MSTBX		0.97	0.86	0.78	0.96	MSTBX
DLTNX	0.97		0.86	0.74	0.99	DLTNX
ANAGX	0.86	0.86		0.84	0.89	ANAGX
ARTFX	0.78	0.74	0.84		0.76	ARTFX
BMOPX	0.96	0.99	0.89	0.76		BMOPX
	MSTBX	DLTNX	ANAGX	ARTFX	BMOPX

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Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Massachusetts 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 Massachusetts' 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
MSTBX	0.11	0.01	0.06	(0.50)	0.00	(0.15)	0.21	(0.21)	0.62
DLTNX	0.23	0.02	0.06	0.85	0.16	(0.31)	0.57	(0.34)	1.40
ANAGX	0.19	0.00	(0.02)	0.12	0.20	(0.27)	0.44	(0.44)	1.46
ARTFX	0.13	0.01	0.01	(0.14)	0.07	(0.19)	0.44	(0.22)	0.89
BMOPX	0.24	0.01	0.02	0.53	0.24	(0.26)	0.55	(0.44)	1.36

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Putnam Massachusetts Correlations

Putnam Massachusetts Correlation With Market

Average diversification

Moving together with Putnam Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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