Putnam Multi-cap Correlations

Mutual Funds . USA . 
Fund . Putnam Multi Cap Value
PMVAX Fund  USD 21.23  0.05  0.23%   
The current 90-days correlation between Putnam Multi Cap and Vy Columbia Small is 0.14 (i.e., Average 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

Very weak diversification

The correlation between Putnam Multi Cap Value and DJI is 0.4 (i.e., Very weak 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 nation.

Moving together with Putnam Mutual Fund

  0.96PEYAX Putnam Equity IncomePairCorr
  0.62PXMNX Putnam Minnesota TaxPairCorr
  0.71PGEYX George PutnamPairCorr
  0.7PGEJX George Putnam BalancedPairCorr
  0.71PGEOX George PutnamPairCorr
  0.71PGELX George Putnam BalancedPairCorr
  0.72PGEMX George PutnamPairCorr
  0.66PGHAX Putnam Global HealthPairCorr
  0.98PGIAX Pnc Fds GrPairCorr
  0.98PGIEX Putnam Global IndustrialsPairCorr
  0.79PGIOX Putnam Global IndustrialsPairCorr
  0.97PGILX Putnam Global IndustrialsPairCorr
  0.71PGPRX George PutnamPairCorr
  0.72PGPCX George PutnamPairCorr

Moving against Putnam Mutual Fund

  0.44PFICX Putnam Floating RatePairCorr
  0.44PFLRX Putnam Floating RatePairCorr
  0.44PFLLX Putnam Floating RatePairCorr
  0.44PFRZX Putnam Floating RatePairCorr
  0.43PFRYX Putnam Floating RatePairCorr

Related Correlations Analysis

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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   
DFUKX
+ 0.87
EPASX
DFUKX
+ 0.86
ANTMX
FCSGX
+ 0.83
VYRDX
ANTMX
+ 0.82
FCSGX
ANTMX
+ 0.79
VYRDX
ANTMX
+ 0.79
EPASX
  
High negative correlations   
GLVIX
- 0.12
VYRDX

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.

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