Putnam Multi-cap Correlations

PMPCX Fund

USD 14.85 0.37 2.56%

The current 90-days correlation between Putnam Multi Cap and Deutsche Health And is 0.46 (i.e., Very weak diversification). The correlation of Putnam Multi-cap 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 Multi-cap Correlation With Market

Poor diversification

The correlation between Putnam Multi Cap Value and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Putnam Multi Cap Value 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 Multi Cap Value. 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

0.92	PGEYX	George Putnam	Pair Corr
0.92	PGEJX	George Putnam Balanced	Pair Corr
0.93	PGEOX	George Putnam	Pair Corr
0.93	PGELX	George Putnam Balanced	Pair Corr
0.93	PGEMX	George Putnam	Pair Corr
0.94	PGIAX	Pnc Fds Gr	Pair Corr
0.95	PGIEX	Putnam Global Industrials	Pair Corr
0.94	PGIOX	Putnam Global Industrials	Pair Corr
0.94	PGILX	Putnam Global Industrials	Pair Corr
0.95	PGODX	Putnam Growth Opport	Pair Corr
0.95	PGOEX	Putnam Growth Opport	Pair Corr
0.93	PGPRX	George Putnam	Pair Corr
0.95	PGORX	Putnam Growth Opport	Pair Corr
0.95	PGOYX	Putnam Growth Opport	Pair Corr
0.93	PGPCX	George Putnam	Pair Corr

Moving against Putnam Mutual Fund

0.58	PGBRX	Putnam Global Income	Pair Corr
0.58	PGGYX	Putnam Global Incm	Pair Corr
0.58	PGGDX	Putnam Global Income	Pair Corr
0.57	PGGEX	Putnam Global Income	Pair Corr
0.57	PGGIX	Putnam Global Income	Pair Corr
0.55	PGGLX	Putnam Global Incm	Pair Corr
0.55	PGLEX	Putnam Global Equity	Pair Corr
0.54	PGLRX	Putnam Global Equity	Pair Corr
0.58	PGSIX	Putnam U S	Pair Corr
0.58	PYSTX	Putnam Short Term	Pair Corr
0.41	PGVCX	Putnam U S	Pair Corr
0.41	PGVRX	Putnam U S	Pair Corr

Related Correlations Analysis

	SCHLX	PJHRX	PGHAX	HCPIX	LYFAX	SUHIX	ETAHX
SCHLX		-0.15	0.85	0.97	0.92	1.0	0.42	SCHLX
PJHRX	-0.15		0.16	-0.28	-0.01	-0.15	0.24	PJHRX
PGHAX	0.85	0.16		0.86	0.84	0.85	0.19	PGHAX
HCPIX	0.97	-0.28	0.86		0.9	0.97	0.22	HCPIX
LYFAX	0.92	-0.01	0.84	0.9		0.92	0.32	LYFAX
SUHIX	1.0	-0.15	0.85	0.97	0.92		0.42	SUHIX
ETAHX	0.42	0.24	0.19	0.22	0.32	0.42		ETAHX
	SCHLX	PJHRX	PGHAX	HCPIX	LYFAX	SUHIX	ETAHX

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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

SUHIX	+ 1.0	SCHLX
HCPIX	+ 0.97	SCHLX
SUHIX	+ 0.97	HCPIX
LYFAX	+ 0.92	SCHLX
SUHIX	+ 0.92	LYFAX
LYFAX	+ 0.9	HCPIX

High negative correlations

HCPIX	- 0.28	PJHRX
SUHIX	- 0.15	PJHRX
PJHRX	- 0.15	SCHLX
LYFAX	- 0.01	PJHRX

Risk-Adjusted Indicators

There is a big difference between Putnam Mutual Fund performing well and Putnam Multi-cap 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 Multi-cap'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
SCHLX	0.64	0.06	0.11	0.09	0.68	(0.72)	1.25	(1.17)	3.70
PJHRX	1.07	(0.25)	0.00	0.52	0.00	0.00	1.79	(2.06)	14.08
PGHAX	0.65	0.02	0.05	0.02	0.83	(0.67)	1.33	(1.10)	4.12
HCPIX	0.97	0.15	0.15	0.18	0.93	(1.10)	1.88	(1.61)	4.95
LYFAX	0.61	0.01	0.07	(0.09)	0.71	(0.63)	1.22	(1.18)	3.27
SUHIX	0.65	0.06	0.11	0.09	0.69	(0.72)	1.29	(1.17)	3.73
ETAHX	1.15	(0.02)	0.00	(0.06)	0.00	0.00	1.88	(2.74)	6.50

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